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obligations" of the former redevelopment agencies and administer dissolution and wind
<br />down of the former redevelopment agencies;
<br />WHEREAS, the City agreed to serve as the successor agency (referred to herein
<br />as the "Successor Agency") to the Former RDA commencing upon the dissolution of the
<br />Former RDA on February 1, 2012 pursuant to ABX1 26;
<br />WHEREAS, on June 27, 2012 as part of the Fiscal Year 2012-2013 State of
<br />California budget bill, the Governor signed into law Assembly Bill 1484 ("AB 1484"), which
<br />modified or added to some of the provisions of ABX1 26, including provisions related to
<br />the refunding of outstanding redevelopment agency bonds and the expenditure of
<br />remaining bond proceeds derived from redevelopment agency bonds issued on or before
<br />December 31, 2010;
<br />WHEREAS, in 2003, the Former RDA issued and sold $20,945,000 aggregate
<br />principal amount of its Community Redevelopment Agency of the City of Santa Ana,
<br />South Main Street Redevelopment Project, Tax Allocation Bonds, Series 2003A, of which
<br />$12,545,000 aggregate principal amount will be outstanding as of September 2, 2018 (the
<br />"Series 2003A Bonds"), and $34,145,000 aggregate principal amount of its Community
<br />Redevelopment Agency of the City of Santa Ana, South Main Street Redevelopment
<br />Project, Tax Allocation Refunding Bonds, Series 2003B, of which $2,820,000 aggregate
<br />principal amount will be outstanding as of September 2, 2018 (the "Series 2003B Bonds"
<br />and, together with the Series 2003A Bonds, the "2003 Bonds"), pursuant to a First
<br />Supplement to Indenture with respect to the Series 2003A Bonds, dated as of April 1,
<br />2003 (the "2003 First Supplement"), and a Second Supplement to Indenture with respect
<br />to the Series 2003B Bonds, dated as of May 1, 2003 (the "2003 Second Supplement'),
<br />each by and between the Former RDA and BNY Western Trust Company (now known as
<br />The Bank of New York Mellon Trust Company, N.A.), as successor trustee (the "2003
<br />Trustee") and each supplementing that Indenture dated as of August 1, 1993, by and
<br />between the Former RDA and Dai-Ichi Kangyo Bank of California (the "1993 Indenture"
<br />and, as supplemented and amended by the 2003 First Supplement and the 2003 Second
<br />Supplement, the "2003 Indenture"), secured by and payable from tax increment revenues
<br />allocated to the South Main Street Redevelopment Project, and which 2003 Bonds are
<br />subject to optional redemption at any time at a redemption price equal to the outstanding
<br />principal amount thereof, plus interest due thereon to the date fixed for redemption,
<br />without premium;
<br />WHEREAS, on February 4, 2011, the Former RDA issued and sold $66,790,000
<br />aggregate principal amount of its Community Redevelopment Agency of the City of Santa
<br />Ana Tax Allocation Bonds (Merged Project Area), 2011 Series A, of which $64,840,000
<br />aggregate principal amount will be outstanding as of September 2, 2018 (the "Series 2011
<br />Bonds" and, together with the Series 2003 Bonds, the "Refunded Bonds"), pursuant to an
<br />Indenture of Trust, dated as of February 1, 2011 (the "2011 Indenture"), between the
<br />Former RDA and The Bank of New York Mellon Trust Company, N.A., as trustee, which
<br />Series 2011 Bonds are subject to refunding and defeasance in accordance with the 2011
<br />Indenture but are not subject to optional redemption until March 1, 2021 and are therefore
<br />not eligible for a tax-exempt advance refunding;
<br />Resolution No, 2018-001
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