2001/03/27 City Council Resolution (12)RESOLUTION NO. 2001- 71
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
APPROVING THE ISSUANCE BY THE ROHNERT PARK FINANCING AUTHORITY OF
ITS MOBILEHOME PARK REVENUE BONDS (LAS CASITAS DE SONOMA)
SERIES 2001 A AND SERIES 2001 B
WHEREAS, the Rohnert Park Financing Authority (the "Authority ") is authorized
pursuant to Section 52100 and following of the California Health and Safety Code (the "Act ") to
provide assistance in financing of mobilehome parks that are or will be owned by a nonprofit
corporation; and
WHEREAS, the City of Rohnert Park (the "City ") and the Authority have determined
that it is in the best interests of the City to preserve the supply of mobilehome rental spaces
within the City through the issuance by the Authority of its Rohnert Park Financing Authority
Mobilehome Park Revenue Bonds (Las Casitas De Sonoma) Series 2001A and Subordinate
Series 2001B in an aggregate initial principal amount of not to exceed $5,700,000 (the 'Bonds ");
and
WHEREAS, the proceeds of the Bonds will be loaned (the "Loan ") to Millennium
Housing of California, a California nonprofit public benefit corporation (the "Owner "), for the
purposes of financing the acquisition by the Owner of a 126 -space mobilehome park known as
Las Casitas de Sonoma located at 7545 Bridget Drive in the City (the "Project "); and
WHEREAS, as required by Section 147(f) of the Internal Revenue Code of 1986, as
amended, this City Council has heretofore conducted a duly noticed public hearing with
respect to the proposed issuance of the Bonds and financing of the Project, such notice being
published at least 14 days before this date in a newspaper of general circulation in the City.
NOW, THEREFORE, the City hereby resolves as follows:
1. The issuance of the Bonds by the Authority pursuant to the Act, the making of the
Loan with the proceeds of Bonds by the Authority to the Owner and the financing of the Project
are hereby approved. This approval is made in order to meet the public approval requirements
of Section 147(f) of the Internal Revenue Code of 1986, as amended.
vote:
2. This Resolution shall take effect. immediately upon adoption.
PASSED, APPROVED, AND ADOPTED this 27 "' day of March, 2001, by the following
AYES:(5) Councilmembers Flores, Reilly, Spiro, Vidak- Martinez and Mayor Mackenzie
NOES: (0) None
ABSENT: (0) None
FLORES: AYE REILLY: AYE SPIRO: AYE VIDAK- MARTINEZ: AYE MACKENZIE: AYE
AYES: (5) NOES: (0) ABSENT: (0) ABSTAIN: (0)
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