HomeMy WebLinkAbout1993-03-23; City Council; Resolution 93-613 ll e 0
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RESOLUTION NO. 93-61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, DIRECTING THE CITY
MANAGER TO PROCEED WITH THE REFUNDING OF
SERIES A OF 1985 (LA COSTA APARTMENTS),
APPOINTING MEMBERS OF THE FINANCING TEAM,
AND ORDERING THE PREPARATION OF DOCUMENTS
THE MULTIFAMILY HOUSING REVENUE BONDS -
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7 WHEREAS, the City of Carlsbad issued bonds dated April 1, 1985 for
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purpose of constructing a multifamily housing complex under the mortgage rev€
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Development, Inc., have requested that the City initiate a refunding of this issul
13 allowed under the optional refunding clause in the existing Bond Indenture; a
14 WHEREAS such refunding is in compliance with both federal and s
15 statues governing the refunding of existing debt; and
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bond law in existence at that time; and
WHEREAS, the property owners of the La Costa Apartments, So
WHEREAS, the City Council of the City of Carlsbad does find that
I" /1 housing units being provided to low and moderate income families is in the pu
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19 benefit and should be continued.
20 NOW, THEREFORE, BE IT RESOLVED by the City Council of the Cig
21 Carlsbad, California as follows:
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1. That all recitations are true and correct.
2. That the City staff is hereby directed to pursue the refunding of
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Multifamily Housing Revenue Bonds - Series A of 1985 (La Costa Apartments) i
26 ll to return with documents necessary to accomplish said issue.
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1 3. That the financing team for this issue shall be comprised of
2 following members: Stradling, Yocca, Carlson and Rauth as Bond Counsel, D
3 Witter, Reynolds, Incorporated as managing Underwriter and Bank of her
4 Incorporated to act as co-manager be returned to Council for approval.
5 PASSED, APPROVED AND ADOPTED at a regular meeting of the City Cou
6 11 of the City of Carlsbad, California, held on the 73rd day of MARCH
7 II 1993, by the following vote, to wit: 8
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lo I/ AYES: Council Members Lewis, Stanton, Nygaard, Finnila
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NOES: None
ABSENT: Council Member Kulchin
l6 11 ATTEST:
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18 ALETHA ll.ALbL L. RAUTENKRANZ dp+
19 I (SEAL)
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