RES-11382 ISSUANCE OF REVENUE BONDS BY CMFA TO FINANCE A MULTIFAMILY RENTAL HOUSING FACILITY FOR THE BENEFIT OF MERCY HOUSING CALIFORNIARESOLUTION NO. 11382
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE APPROVING THE ISSUANCE
OF REVENUE BONDS BY THE CALIFORNIA
MUNICIPAL FINANCE AUTHORITY IN AN
AGGREGATE PRINCIPAL AMOUNT NOT TO
EXCEED $20,000,000 TO FINANCE A
MULTIFAMILY RENTAL HOUSING FACILITY
FOR THE BENEFIT OF MERCY HOUSING
CALIFORNIA 107, L.P., OR AN AFFIILIATE
THEREOF, AND CERTAIN OTHER MATTERS
RELATING THERETO
WHEREAS, Mercy Housing California, a California nonprofit corporation (the
Sponsor"), on behalf of Mercy Housing California 107, 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 $20,000,000 (the "Bonds"), including but not limited to revenue bonds
issued as part of a plan to finance the acquisition, construction, renovation, improvement and
equipping of a 50-unit multifamily rental housing facility for very-low income seniors (the
Project"),to be owned and operated by the Borrower and located in the City of Orange, California
the "City"), at 480 S. Batavia Street; and
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 Internal
Revenue Code of 1986 (the"Code"); and
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; and
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 RESOLVED, by the City Council of the City of Orange,
as follows:
Section 1. The foregoing recitals are true and correct.
Section 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(i) 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 (ii) Section
4 of the Agreement.
Section 3. The issuance of the Bonds shall be subject to the approval of the Authority of
all financing documents relating thereto to which the Authority is a party. The City shall have no
responsibility or liability whatsoever with respect to the Bonds.
Section 4. The adoption of this Resolution shall not obligate the City or any department
thereof to (i) provide any financing to acquire or construct the Project or any refinancing of the
Project; (ii) approve any application or request for or take any other action in connection with any
planning approval,permit or other action necessary for the acquisition,construction,rehabilitation,
installation or operation of the Project; (iii) make any contribution or advance any funds
whatsoever to the Authority; or (iv) take any further action with respect to the Authority or its
membership therein.
Section 5. The officers of the City, including the City Manager, 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.
Section 6. The City Clerk shall forward a certified copy of this Resolution to the Authority
in care of its counsel:
Ronald E. Lee, Esq.
Jones Hall, APLC
475 Sansome Street, Suite 1700
San Francisco, CA 94111
Section 7. This Resolution shall take effect immediately upon its adoption.
ADOPTED this 12th day of April 2022.
filth-
Mark A. Murphy, Mayor, City 4f Orange
ATTEST:
Pamela Coleman, City Clerk, City of Orange
Resolution No. 11382 2
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ORANGE
I, PAMELA COLEMAN, City Clerk of the City of Orange, California, do hereby certify
that the foregoing Resolution was duly and regularly adopted by the City Council of the City of
Orange at a regular meeting thereof held on the 12th day of April 2022, by the following vote:
AYES:COUNCILMEMBERS: Nichols, Monaco, Barrios, Dumitru, Tavoularis,
Gutierrez, and Murphy
NOES:COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
ABSTAIN: COUNCILMEMBERS: None
C6te4YL°L-1
Pamela Coleman, City Clerk, City of Orange
Resolution No. 11382 3