-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ASkNqgnNgSHxZ1YjtwsBxFPuTgY0Gn06/9Tb6Cleq/JnFit0Z90lTEuUKlUObZ0Z wD7duYGzXOqNC1e0/gi/Gg== 0000711642-06-000233.txt : 20060616 0000711642-06-000233.hdr.sgml : 20060616 20060616160557 ACCESSION NUMBER: 0000711642-06-000233 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060609 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060616 DATE AS OF CHANGE: 20060616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL TAX CREDIT INVESTORS II CENTRAL INDEX KEY: 0000859921 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS [6510] IRS NUMBER: 931017959 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20610 FILM NUMBER: 06910461 BUSINESS ADDRESS: STREET 1: 9090 WILSHIRE BLVD 2ND FLR STREET 2: STE 201 CITY: BEVERLY HILLS STATE: CA ZIP: 90211 BUSINESS PHONE: 3102782191 MAIL ADDRESS: STREET 1: 9090 WILSHIRE BLVD SUITE 201 CITY: BEVERLY HILLS STATE: CA ZIP: 90211 8-K 1 ntci2june9.htm UNITED STATES

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549





FORM 8-K



CURRENT REPORT



Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) June 9, 2006


NATIONAL TAX CREDIT INVESTORS II

(Exact name of Registrant as specified in its charter)



            California

        0-20610  

  93-1017959

(State or other jurisdiction

(Commission

     (I.R.S. Employer

     of incorporation)

File Number)

  Identification Number)


55 Beattie Place

Post Office Box 1089

Greenville, South Carolina 29602

(Address of principal executive offices)



(864) 239-1000

(Issuer's telephone number)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:


[ ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


[ ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


[ ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


[ ]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 8.01

Other Events


National Tax Credit Investors II, a California limited partnership (the “Registrant”), has a 98.9% limited partnership interest in Michigan Beach Limited Partnership, an Illinois limited partnership (the “Partnership”), which owns Michigan Beach Apartments (“Michigan Beach”), a 239-unit apartment complex located in Chicago, Illinois. The Registrant has no remaining investment balance in the Partnership at March 31, 2006.


The general partner of the Registrant is National Partnership Investments Corp. (“NAPICO”). An affiliate of NAPICO serves as the general partner of the Partnership and another NAPICO affiliate manages Michigan Beach.


On June 9, 2006, the Partnership entered into a purchase and sale contract with a third party, Catalano & Associates, an Illinois corporation (the “Purchaser”), to sell Michigan Beach to the Purchaser for a total sales price of $13,700,000. The closing is estimated to occur in the fourth quarter of 2006; however the closing may be earlier or later based upon conditions in the purchase and sale contract. The Registrant is also the holder of the second mortgage note encumbering the Partnership, with a principal and accrued interest balance of approximately $5,202,000 at May 31, 2006. The Registrant anticipates sales proceeds to be sufficient to allow for repayment of the first mortgage encumbering the Partnership and to allow for repayment of the second mortgage held by the Registrant, and anticipates any proceeds received in connection with the sale of Michigan Beach to be applied towards amounts accrued and payable to affiliates of NAPICO and to the Registrant’s reserves.









SIGNATURE



Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




NATIONAL TAX CREDIT INVESTORS II

(a California Limited Partnership)



By:

National Partnership Investments Corp.

General Partner



By:

/s/David R. Robertson

David R. Robertson

President and Chief Executive Officer


Date:

June 16, 2006






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