HomeMy Public PortalAbout82-129 RESOLUTION NO. 82-129
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARSON AUTHORIZING AND DIRECTING
THE CITY ADMINISTRATOR TO SUBMIT A
SUBMISSION INFORMATION FORM TO THE MORTGAGE
BOND ALLOCATION COMMITTEE
THE CITY COUNCIL OF THE CITY OF CARSON HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1 . The City Administrator of the City of
Carson is hereby authorized and directed to submit to the
Mortgage Bond Allocation Committee of the State of California
the Submission Information Form attached hereto as Exhibit A,
and to do all things and acts which are required by law or
which may be necessary or desirable to facilitate the submission
of such form and the mortgage financing contemplated thereby.
PASSED, APPROVED and ADOPTED this 23rd day of
August 1982.
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EXHIBIT A Res. No. 82-129/Page-2 of 3
Mnxta;syct hand All, Cam;nitLc� Mail !0;
\\ SUBMISSION INFORMATION FORM Exec' Sec ;1`4-13-A.C.
P.O. Box 1919
' ;.Name anal Address of" "—"---- - Socromenfo, CA 956Q9
- k<u�.-
City of Varson
,01 E. Carson Street For Assistance or lnfornotion
' of son, California 90745 Call;(916) "5-656)
Attn: Peter Kinnahan, Redevelopment Project 'Manager
2. Authority Fot issvonce of Bonds: 3. Type o1 Program: --
SB99/AB1355
4, Type of Sale: Private
Pvblic
0--pariment Responsible for Administraiion of the Program:
ity Developmnt Department
6.Purpose of Bond Iswe:
To Provide below market rate Mortgage funds to increase the stock of affordable housing
within the City,. and to provide "qualified rehabilitation loans".
7.Arn.nt of Fssuea
8.Dafe of Proposed Saba —
$30 Million tJovember, 1982
I 4.Application of Bond Proceeds:
$30 Million
$28,050,000 - Mortgage' Loan Fund
1 $ 900,000 - Debt Service Reserve
$ 900,000 - Underwriters Discount
$ 150,000 . Cots of Issuance
10. Gst all applicable fees and fee schedules:
4 points Erin the developer, Hotel del Coronado Corporation.
1 i.Listalf reserves in Bond Program: -...--
DEbt .Service Reserve Fund
T f a►f insurance programs:
Private mortgage insurance
dard hazard insurance
hazard insurance
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Res. No. 82-129/Page 3 of 3
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As required by law
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14 GiYe a brief summory of all redemption provisions of the issue:
5 -cial Redemption
&iandatory Sinking Account Redemption
Optional Redemption
15.1f you have applied for a borsd rating,phase give the do-te of applicofion:
Moody s— Standard and Poor`s
If you haven't appf t.d fora ro ling,pleases give the estimated dale when you plan to oppfy:
Moodys --- ---- SfandardondPoor's October, 1982
If you don't plan to apply,please explain why.
16,list the norms and addrna of Bond Counsel:
William Strausz 333 South Hope Street - 38th Floor i
�—Richards, Watson, Dreyfuss & Gershon Los Angeles, CA 90071 i
1 CERTIFICATiON.., I cerffy Ovart the informcr6on provided in this Submission Informotion Form is true
and corrects
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