HomeMy WebLinkAboutRES CC 1985 252 1985 1118RESOLUTION Noy. 85-252
A RESOLUTION OF THE CITY COUNCIL OF' THE CITY OF
MOORPARK, CALIFORNIA, CONCERNING THE PROPOSED
ISSUANCE OF MULTI - FAMILY REVENUE: BONDS IN AN
AMOUNT NOT TO EXCEED $25,000,000 FOR THE PURPOSE
OF MAKING A LOAN TO MOORPARK LF: CLUB, LIMITED.
WHEREAS, Chapter 7 of Pant 5 of Division 31 of the Health and
Safety Code of the State of California ( the "Act ") authorizes cities to incur
indebtedness for the purpose of financing the construction or development of
multi - family rental housing and for the prevision of capital improvements in
connection with and determined necessary to such multi - family housing, and the
Act provides a complete, additional and alternative method for such financing; and
WHEREAS, on January 16, 1985, the City Council of the City of
Moorpark adopted an inducement resolution ( Resolution No. 85 -161) concerning its
intent to issue revenue bonds to finance a multi- family rental housing develop-
ment for Moorpark Le Club, Limited (G. 11. Palmer Associates) , to be located
at the southeast corner of Moorpark Avenue and Los Angeles Avenue; and
WHEREAS, pursuant to Section 103 of the Internal Revenue Code
of 1954, as amended, prior to such issuance of bonds, a public hearing shall
be duly noticed and subsequently held and an opportunity provided for all
parties to present arguments for and against the issuance of such bonds;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the
City of Moorpark, California, has duly noticed and has held a public hearing in
compliance with the Federal statues, and has taken into consideration anv and
all testimony presented at said hearing.
ATTEST:
PASSED AND ADOPTED this 18th day of November, 1985.
f�
.'VI46r of the City of Moorpark,
California
STATE OF CALIFORNIA
COUNTY OF VENTURA >`
CITY OF MOORPARK )
I, DORIS D. BANKUS _, City Clerk of the City of Moorpark,
California, do hereby certify that the foregoing Resolution No. 85 -252
was adopted by the City Council of the City of Moorpark at a regular
meeting thereof held on the 18th___ day of November ) 19 85
and that the same was adopted by the following roll call vote:
AYES: Councilmembers Yancy- Sutton, Woolard, Ferguson,
Prieto and Mayor Weak;
NOES: None;
ABSENT: None.
WITNESS my hand and the official seal of said City this 18th day of
November , 19 85
City Clerk