RESOLUTION NO. _________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARA APPROVING THE ISSUANCE OF REVENUE BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $35,000,000 TO FINANCE A MULTIFAMILY RENTAL HOUSING FACILITY FOR THE BENEFIT OF ALLIED 3335 KIFER, L.P., OR AN AFFIILIATE THEREOF, AND CERTAIN OTHER MATTERS RELATING THERETO BE IT RESOLVED BY THE CITY OF SANTA CLARA AS FOLLOWS:
WHEREAS, Allied Housing, Inc., a California nonprofit corporation (the “Sponsor”), on behalf of Allied 3335 Kifer, L.P., a California limited partnership, or another entity (such limited partnership or other entity, the “Borrower”) to be created by the Sponsor or by an affiliate of the Sponsor, has requested that the California Municipal Finance Authority (the “Authority”) issue one or more series of revenue bonds in an aggregate principal amount not to exceed $35,000,000 (the “Bonds”), including but not limited to revenue bonds issued as part of a plan to finance the acquisition, construction, improvement and equipping of an 80-unit rental housing facility with supportive services for low-income seniors, including seniors experiencing homelessness (the “Project”), to be owned and operated by the Borrower and located in the City of Santa Clara, California (the “City”), at 3333 Kifer Road; WHEREAS, an “applicable elected representative” of the jurisdiction in which the Project is to be located is required to approve the issuance of the Bonds under Section 147(f) of the Code; WHEREAS, the City Council of the City (the “City Council”) is the elected legislative body of the City and is an “applicable elected representative” for purposes of Section 147(f) of the Code; WHEREAS, the Authority has requested that the City Council approve the issuance of the Bonds by the Authority in order to satisfy the public approval requirement of Section 147(f) of the Code and the requirements of Section 4 of the Joint Exercise of Powers Agreement Relating to the California Municipal Finance Authority, dated as of January 1, 2004 (the “Agreement”), among certain local agencies, including the City; and WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires to approve the issuance of the Bonds by the Authority.
NOW, THEREFORE, BE IT FURTHER RESOLVED BY THE CITY OF SANTA CLARA AS FOLLOWS:
1. The foregoing recitals are true and correct.
2. The City Council hereby approves the issuance of the Bonds by the Authority, including but not limited to Bonds issued as part of a plan to finance the facilities described herein. It is the purpose and intent of the City Council that this resolution constitute approval of the issuance of the Bonds by the Authority for the Project, for the purposes of (a) Section 147(f) of the Code by the applicable elected representative of a governmental unit having jurisdiction over the area in which the Project is to be located, in accordance with said Section 147(f) and (b) Section 4 of the Agreement.
3. The officers of the City are hereby authorized and directed, jointly 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.
4. Effective date. This resolution shall become effective immediately. //
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I HEREBY CERTIFY THE FOREGOING TO BE A TRUE COPY OF A RESOLUTION PASSED AND ADOPTED BY THE CITY OF SANTA CLARA, CALIFORNIA, AT A REGULAR MEETING THEREOF HELD ON THE ___ DAY OF _________, 2022, BY THE FOLLOWING VOTE:
AYES: COUNCILORS:
NOES: COUNCILORS:
ABSENT: COUNCILORS:
ABSTAINED: COUNCILORS:
ATTEST:
Nora Pimentel, MMC
Assistant City Clerk
CITY OF SANTA CLARA
Attachments incorporated by reference: None
Resolution/Kifer Senior TEFRA Page 2 Rev: 11/22/17
Resolution/Kifer SeniorPage 3
Rev: 11/22/17
Resolution/Kifer Senior TEFRA Page 1 Rev: 11/22/17