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Res16 15473
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Res16 15473
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Last modified
10/11/2019 7:54:39 AM
Creation date
10/11/2019 7:54:38 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
1/25/2016
Description
RESOLUTION APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF A JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY AND APPROVING THE ISSUANCE OF REVENUE BONDS BY THE AUTHORITY FOR THE PURPOSE OF FINANCING THE ACQUISITION AND REHABILITATION OF A MULTIFAMILY RENTAL HOUSING FACILITY FOR THE BENEFIT OF MIDPEN HOUSING CORPORATION OR AN ENTITY TO BE CREATED THEREBY
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1/25/2016 <br /> Section 4. The issuance of the Bonds shall be subject to the approval of the <br /> Authority of all financing documents relating thereto to which the Authority is a party. <br /> The City shall have no responsibility or liability whatsoever with respect to the Bonds. <br /> Section 5. The adoption of this Resolution shall not obligate the City or any <br /> department thereof to (i) provide any financing to acquire or rehabilitate the Project or <br /> any refinancing of the Project; (ii) approve any application or request for or take any <br /> other action in connection with any planning approval, permit or other action necessary <br /> for the acquisition, rehabilitation or operation of the Project; (iii) make any contribution or <br /> advance any funds whatsoever to the Authority; or (iv) take any further action with <br /> respect to the Authority or its membership therein. <br /> Section 6. The executing officers, the City Clerk and all other proper officers <br /> and officials of the City are hereby authorized and directed to execute such other <br /> agreements, documents and certificates, and to perform such other acts and deeds, as <br /> may be necessary or convenient to effect the purposes of this Resolution and the <br /> transactions herein authorized. <br /> Section 7. The City Clerk shall forward a certified copy of this Resolution and <br /> an originally executed Agreement to the Authority in care of its counsel: <br /> Ronald E. Lee, Esq. <br /> Jones Hall, APLC <br /> 475 Sansome Street, Suite 1700 <br /> San Francisco, CA 94111 <br /> Section 8. This resolution shall take effect immediately upon its passage. <br /> * � � <br /> ATTY/RES0.0003/CC RESO TEFRA MID-PEN RESO.#15473 <br /> REV:01-14-16 RL MUFF#452 <br /> Page 3 of 4 <br />
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