HomeMy WebLinkAboutCC Reso No 1983-05RESOLUTION N0. 83-5
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA AUTHORIZING AND DIRECTING THE CITY
MANAGER TO TRANSMIT A SUBMISSION INFORMATION FORM TO
THE MORTGAGE BOND ALLOCATION COMMITTEE.
THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE HEREBY FINDS, DETERMINES,
RESOLVES AND ORDERS AS FOLLOWS:
Section 1.. The City Manager of the City of Lake Elsinore is hereby
authorized and directed to submit to the Mortgage Bond Allocation Committee
of the SUate 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 desireable to facilitate the submission of such
form and the mortgage financing contemplated thereby.
PASSED, APPROVED AND ADOPTED this llth day of January, 1983, on the
following vote:
AYES: KNIGHT, TORN, VALENZUELA, UNSWORTH
NOES: NONE
ABSENT: MAC MURRAY
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JO G. UNSWORTH, MAYOR
CITY Of LAKE ELSINORE
ATTEST:
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/I//~l,~17~ r ~i~fl./~1/.Y~~~
'D BORAH A. HARRINGTON, Y CLERK
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' STATE Oi~ UUfOQNiA ~ ~
~ Mortvage Bond R1location Commit
SUBMISSION INFORMATION FORM
1. Nome ond Add~ess ol lssuer . . . ~ .
City of Lake Elsino're
130 South Main Street
Lake Elsinore, California 92330
Attentioni Manuel Rede
2_ Avthority loi Issuonce o~ Bonds: ~.. . .
SB99/PB 1355
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5. DepoAmmt Responsible for Administrat7on o/ tfx Propram:~
Mail to:
E:xec. Sec ;H.D.A.C.
P.O. Boa 1919
Sotromcnto, CA 95809
For Assislonce or In(ormal'wn
Coll: (916) 4tS6561
3. Type.o~~Propram: . .
4. Type o~ Sale: Private ~~ ~
Public XX .._
~ . City Managers Office ~ .~ . . ~ . . ~ . . ~
?urpox of Bond Iswr. . ~ . ~ ~~ ~ . . . . . . , .
_ To provide below market rate mortgage funds to increase the
stock of affordable housing within the City. -
7. Amovnt of Issuc
-,$, 20, 000, 000
9. Appi~cotion ol Bond Procceds=
?
i 10. Lisl all applimbie (ecs and Ice ichedukac
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I. 8. Darfe o} Propoxd Sokc.
April 1983
~ 4 1/2 to 7 1/2 points from developers
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. . ' 1• ~stall reicr~es in Bond Progrom: --'- - . ~ -
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Debt service reserve fund
. . 12. List c:i . ...<:nce proorom::~~-' --' ' -_ . ~ .
ioo~ Prs
Standard Aazard Snsurance
Special Hazard Insurance •
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, ..::, , ,, ~ , ., . . .:, -.i ,
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1 J. lisl the mconm ond ~ote1 price limilotionz in tha proqrom: ~ .
as required by law
1~. Gi~.e o bnef summary~of oll redemplion provisions of the issue:
Special Redemption
Manclatory Sinking Account Redemption
' Optional Redemption
1 S. If you have applied for a bond rati~g. Pleose 9i"a the dote oi~ appl'~cafion: ~ .
MoodY i~- Stondard ond Poor's .
1( you haven 1 oppli^d~(or a roting, plwu pive the es6mated date when you plon to apply: ~_
Stw~dard ond Poor's Febr-uary 198 3
Moody's. .___-.---- . . .
IT you don't plan to apply. Pkase ezploin why. . - . .
~ ,~ 16. Gst the nome ond oddrots o( Bond Coun»I:
-i to be selected
I
. CERTIFICATION: 1 cerfiFy that the i^~ormation provided in ihis Submi:iwn loformotron Form is froe .
• . ood cor~eci: ~ ~ . /~ ~ . .
. .~ ~ ~~. ~~~,SL.!?~"'- ~ _ . City Manager ~ -
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~ a~.~ ol Olf.cr ~e~poiiubL f« tM PropTa~+~ .. . . .
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