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2005/08/09 City Council Resolution (24)RESOLUTION NO. 2005-2-59 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK APPROVING THE ISSUANCE OF REVENUE BONDS BY THE INDEPENDENT CITIES LEASE FINANCE AUTHORITY ON BEHALF OF CARITAS AFFORDABLE HOUSING, INC., AND OTHER MATTERS RELATING THERETO WHEREAS, the Independent Cities Lease Finance Authority (the "Authority") is authorized pursuant to the provisions of California Government Code Section 6500 et seq. and the terms of its joint exercise of powers agreement (the "Agreement"), among certain cities throughout the State of California, including the City of Rohnert Park (the "City "), to issue revenue bonds and other forms of indebtedness to promote economic development within the State of California; and WHEREAS, Caritas Affordable Housing, Inc., an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986 (together with entities related thereto, the "Corporation "), has requested that the Authority issue revenue bonds in a maximum aggregate principal amount of $30,000,000 (the "Bonds ") to finance the acquisition or improvement of a 287 -space mobile home park (the "Project ") located at 6401 Country Club Drive in the City of Rohnert Park, California, and generally known as Valley Village Mobile Homes Estates; and WHEREAS, pursuant to Section 147(f) of the internal Revenue Code of 1986 (the "Code "), prior to their issuance, the Bonds are required to be approved by the "applicable elected representative" of the governmental unit on whose behalf the Bonds are expected to be issued and by a governmental unit having jurisdiction over the entire area in which any facility financed by the Bonds is located, after a public hearing held following reasonable public notice; and WHEREAS, the Project is located in the City and to be owned and operated by the Corporation; and WHEREAS, the members of the City Council are the applicable elected representatives of the City; and WHEREAS, there has been published, at least 14 days prior to the date thereof, in a newspaper of general circulation within the City of Rohnert Park, a notice that a public hearing regarding the Bonds would be held on August 9, 2005; and WHEREAS, such public hearing was conducted on this date by the City Council of the City, at which time an opportunity was provided to interested parties to present arguments both for and against the issuance of the Bonds; and WHEREAS, it is intended that this resolution shall constitute the approval of the issuance of the Bonds and the Project required by Section 147(0 of the Code, NOW THEREFORE, BE IT RESOLVED AND ORDERED by the City Council of the City of Rohnert Park as follows: Section 1. The above recitals are true and correct. Section 2. The City Council hereby approves the issuance of the Bonds by the Authority and the Project to be financed thereby. It is the purpose and intent of the City Council that this resolution constitute approval of the Bonds for the purposes of Section 147(f) of the Code and the approval of the Project, including the issuance of the Bonds for purposes of the Agreement. Cer`t7oYt ?. The officers of the City are lair eby ai.�thvri�.ed and dcrected, jviaiLly and severally, to do any and all things and to execute and deliver any and all documents which they deem necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this resolution and the financing transaction approved hereby. PASSED AND ADOPTED by the City Council of the City of Rohnert Park this 9th day of August, 2005, by the following vote: AYES:Five (5) Council Members Breeze, Flores, Smith, Vidak- Martinez and Mayor Mackenzie NOES: None (0) ABSENT: None (0) ABSTAIN: None (0) ATTEST: + City Clerk a9 CITY OF ROHNERT PARK yor "NERr APPROVED AS TO FORM AND LEGALITY: 4meyy "O�_���� 62 CERTIFICATE OF CITY CLERK OF THE CITY OF ROHNERT PARK I, Judy Hauff, City Clerk of the City of Rohnert Park, hereby certify that the foregoing is a full, true and correct copy of a resolution duly adopted at the meeting of the Board duly and regularly held in Rohnert Park, California, on August 9, 2005, of which meeting all of the members of said City Council had due notice. I further certify that I have carefully compared the foregoing copy with the original minutes of said meeting on file and of record in my office; that said copy is a dl, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and that said resolution has not been amended, modified, rescinded or revoked in any manner since the date of its adoption, and the same is now in full force and effect. IN WITNESS WHEREOF, I have executed this certificate this 10th day of August , 2005.