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Municipal Bond Insurance The Successor Agency has applied for a municipal bond insurance policy to insure the payment of the principal of and interest on the Bonds and a municipal debt service reserve policy to satisfy the Reserve Requirement (as defined herein) and will decide whether to purchase such policy in connection with the offering of the Bonds. Such information will be included in the Official Statement. Legal Matters All legal proceedings in connection with the issuance of the Bonds are subject to the approving opinion of Orrick, Herrington & Sutcliffe LLP, Los Angeles, California, as Bond Counsel. Such opinion, and certain tax consequences incident to the ownership of the Bonds, including certain exceptions to the tax treatment of interest, are described more fully under the heading "LEGAL MATTERS." Certain legal matters will be passed on for the Successor Agency by Best Best & Krieger LLP, as Disclosure Counsel, by Assistant City Attorney of the City of Santa Ana, Santa Ana, California, as general counsel to the Successor Agency, and for the Underwriter by their Counsel, Kutak Rock LLP, Irvine, California ("Underwriter's Counsel"). Professional Services The Bank of New York Mellon Trust Company, N.A. will act as Trustee with respect to the Bonds Urban Futures Incorporated, Orange, California (the "Municipal Advisor") advised the Successor Agency as to the financial structure and certain other financial matters relating to the Bonds and assisted the Successor Agency with the preparation of this Official Statement. Urban Futures Incorporated, Orange, California (the "Fiscal Consultant") served as fiscal consultant to the Successor Agency. Fees payable to Bond Counsel, Disclosure Counsel, Underwriter's Counsel, the Municipal Advisor and the Fiscal Consultant are contingent upon the sale and delivery of the Bonds. Offering of the Bonds Authority for Issuance. The Bonds are to be issued and secured pursuant to the Indenture, as authorized by Resolution Nos. 2018-001 and of the Successor Agency adopted on July 17, 2018 and October 2, 2018, respectively, the Refunding Law and the Law. The Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana Oversight Board (the "Oversight Board") approved the action taken by the Successor Agency to refinance the Refunded Bonds on June 27, 2018. The State Department of Finance approved the Oversight Board action by letter dated 12018. Summary Not Definitive The summaries and references contained in the Official Statement with respect to the Indenture, the Bonds and other statutes or documents do not purport to be comprehensive or definitive and are qualified by reference to each such document or statute, and references to the Bonds are qualified in their entirety by reference to the form thereof included in the Indenture. Copies of the documents described in the Official Statement are available for inspection during the period of initial offering of the Bonds at the offices of the Municipal Advisor, Urban Futures Incorporated, 17821 E. 17' Street, Suite 245, Tustin, California 92780, telephone (714) 283-9334. Copies of these documents may be obtained after delivery of the Bonds from the Successor Agency at 20 Civic Center Plaza M-25, Santa Ana, California 92702. SA -3-19