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Ot saNPa REQUEST y 1a .s ACTIONSUCCESSOR AGENCY T c �YlYV6P MEETING DATE: OCTOBER 2, 2018 TITLE: RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A FORM OF PRELIMINARY OFFICIAL STATEMENT IN CONNECTION WITH THE SALE AND DELIVERY OF TAX ALLOCATION REFUNDING BONDS; MAKING CERTAIN DETERMANATIONS RELATING THERETO; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH {STRATEGIC PLAN NO. 4,2D) CI Y ANAGER RECOMMENDED ACTION CLERK OF THE COUNCIL USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Implementing Resolution ❑ Other CONTINUED TO FILE NUMBER Adopt a resolution approving a form of the Preliminary Official Statement in connection with the sale and delivery of Tax Allocation Refunding Bonds; making certain determinations relating thereto and authorizing certain other actions 2. Ratify and confirm the transfer of unspent proceeds of the Series 2011 Bonds in the amount of approximately $5,831,789 to the respective redemption fund and to apply such proceeds to defease an equal amount of outstanding Series 2011 Bonds, as specified in its resolution adopted on July 17, 2018, in accordance with Health & Safety Code Section 34191.4(c) 3. Ratify and confirm the transfer of the reserve account of the Series 2011 Bonds in the amount of approximately $6,727,062 to the respective redemption fund and to apply such proceeds to defease an equal amount of outstanding Series 2011 Bonds. DISCUSSION In 2003, the Community Redevelopment Agency of the City of Santa Ana (the "former RDA") issued its South Main Street Redevelopment Project, Tax Allocation Bonds, Series 2003A in the amount of $20,945,000 (the "2003A Bonds"), and its Tax Allocation Refunding Bonds, Series 2003B in the amount of $34,145,000 (the "2003B Bonds", and collectively the "2003A & B SA -3-1