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agreements, conditions, covenants and provisions herein contained; and the agreements and covenants herein set forth to be performed on behalf of the Agency shall be for the equal and proportionate benefit, security and protection of all Owners of the Bonds without preference, priority or distinction as to security or otherwise of any Bonds over any other Bonds. ARTICLE II THE BONDS; CERTAIN PROVISIONS OF THE BONDS Section 2.01 General Authorization; Bonds. The Series 2018 Bonds and Additional Bonds may be issued at any time under and subject to the terms of the Indenture. The Agency has reviewed all proceedings heretofore taken relative to the authorization of the Series 2018 Bonds and has found, as a result of such review, and hereby finds and determines that all acts, conditions and things required by law to exist, happen or be performed precedent to and in connection with the issuance of the Series 2018 Bonds do exist, have happened and have been performed in due time, form and manner as required by law, and the Agency is now duly authorized, pursuant to each and every requirement of law, to issue the Series 2018 Bonds in the manner and form provided in the Indenture. Accordingly, the Agency hereby authorizes the issuance of the Series 2018 Bonds for the purposes set forth in the preamble of the Indenture. Section 2.02 Terms of Series 2018 Bonds. The Series 2018 Bonds authorized to be issued by the Agency under and subject to the terns of the Indenture and the Law shall be designated the "Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana Tax Allocation Refunding Bonds, Series 2018A (Tax Exempt)" and shall be in the aggregate principal amount of $XX,000,000 and the "Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana Tax Allocation Refunding Bonds, Series 2018B (Federally Taxable)" and shall be in the aggregate principal amount of $YY,000,000. The Series 2018 Bonds shall be issued as fully registered bonds in denominations of $5,000, or any integral multiple thereof (not exceeding the principal amount of such Bonds maturing at any one time). The Bonds shall be registered initially in the name of "Cede & Co.," as nominee of the Securities Depository and shall be evidenced by one bond for each maturity of Bonds in the principal amount of the respective maturities of Bonds. Registered ownership of the Bonds, or any portion thereof, may not thereafter be transferred except as set forth herein. Payment of interest on the Series 2018 Bonds shall be made to Cede & Co. as registered owner, or such other person whose name appears on the bond registration books of the Trustee as the registered owner of the Series 2018 Bonds, as of the close of business on the fifteenth (15th) day of the calendar month preceding the Interest Payment Date (the "Record Date), or if otherwise instructed, by check mailed to such registered owner at its address as it appears on such books or at such other address as it may have filed with the Trustee for that purpose prior to the Record Date. Each Series of Series 2018 Bonds shall be numbered in consecutive numerical order from RI upwards. Each Series of Series 2018 Bonds shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless such date of authentication is an Interest Payment Date, in which event they shall bear interest from such Interest Payment Date, 4150-2542-5420.3 16 40990-25 SA -3-34