HomeMy WebLinkAboutReso 1999-19706 RESOLUTION NO. 19706
COUNCIL RESOLUTION APPROVING THE ISSUANCE, SALE
AND DELIVERY OF MULTI-FAMILY HOUSING REVENUE
BONDS BY THE HOUSING AUTHORITY OF THE CITY OF
CHULA VISTA FOR THE PEAR TREE APARTMENT
ACQUISITION AND REHABILITATION PROJECT
WHEREAS, the Housing Authority of the City of Chula Vista (the "Authority") adopted a
resolution that constituted a declaration of official intent to issue multi family housing revenue bonds
(the "Bonds") to finance the acquisition and rehabilitation of a multifamily rental housing Project
in the City of Chula Vista described in the notice of public hearing attached as Exhibit A hereto (the
"Project"); and
WHEREAS, in order for interest on the Bonds to be tax-exempt, Section 147(1) of the
Internal Revenue Code of 1986 requires that the Bonds be approved by the City Council as the
applicable elected representative after a public hearing following reasonable public notice; and
WHEREAS, notice of a public hearing with respect to the proposed issuance of the Bonds
was published in "The Star News," a newspaper of general circulation in the City, on November 20,
1999; and
WHEREAS, the public hearing was held on December 7, 1999, and an opportunity was
provided for interested persons to express their views on the issuance of the Bonds and on the nature
and location of the Project;
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Chula Vista
that this City Council, as the applicable elected representative under Section 147(I) of the Code,
approves the issuance of the Bonds by the Authority to finance the acquisition and rehabilitation of
the Project.
Presented by Approved as to form by
Resolution 19706
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 7th day of December, 1999, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilia, Salas, and Horton
NAYS: Cotmcilmembers: None
ABSENT: Councilmembers: None
Shirley Horto~yor
ATTEST:
usan lge ow, lty er
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, Califomia, do hereby certify that the foregoing
Resolution No. 19706 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 7th day of December, 1999.
Executed this 7th day of December, 1999