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4 RESOLUTION NO.97-119 (2831) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF CITY OF SAN LEANDRO VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS (CARLTON PLAZA OF SAN LEANDRO PROJECT) SERIES 1997A AND CITY OF SAN LEANDRO VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE TAXABLE BONDS (CARLTON PLAZA OF SAN LEANDRO PROJECT) SERIES 1997A-T, AUTHORIZING THE EXECUTION AND DELIVERY OF A TRUST INDENTURE, A LOAN AGREEMENT, A REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS, AN OFFICIAL STATEMENT AND A BOND PURCHASE AGREEMENT, AND AUTHORIZING THE EXECUTION AND DELIVERY OF AND APPROVING OTHER RELATED ACTIONS IN CONNECTION THEREWITH. WHEREAS, the City of San Leandro (the "City") is authorized pursuant to Chapter 7 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") to issue revenue bonds to provide funds to finance multifamily rental housing facilities; WHEREAS, Carlton Plaza San Leandro LLC, a California limited liability company (the "Borrower"), has requested the City to issue bonds under the Act for the purpose of financing the acquisition and construction of a 144-unit multifamily rental housing development known as "Carlton Plaza of San Leandro" (the 'Project"); WHEREAS, on September 15, 1997, the City Council of the City held a public hearing on the proposed issuance of the Series A Bonds (as hereinafter defined), as required under the Internal Revenue Code of 1986, following published notice of such hearing; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in connection with the issuance of the Bonds (as hereinafter defined) as contemplated by this Resolution and the documents referred to herein will exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Act. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of San Leandro, as follows: 1. The City hereby finds and declares that the above recitals are true and correct. 2. Pursuant to the Act and the Indenture (hereinafter defined), revenue bonds of the City designated as "City of San Leandro Variable Rate Demand Multifamily Housing Revenue Bonds (Carlton Plaza of San Leandro Project) Series 1997A" (the "Series A Bonds") in an aggregate principal amount of not to exceed $13,600,000 and "City of San Leandro Variable Rate Demand Multifamily Housing Revenue Taxable Bonds (Carlton Plaza of San Leandro Project) Series 1997A-T (the "Series A-T Bonds," and together with the Series A Bonds, the `Bonds"), in SF\972310014