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WHEREAS, the Successor Agency has determined, to the extent authorized by California Health and Safety Code Section 34177.5(a), to issue its Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana Tax Allocation Refunding Bonds, in one or more series, one of which may be federally taxable if determined by bond counsel to be required under federal tax law, and with such other name and series designation as shall be deemed appropriate (the "Bonds"), for the purpose of: (i) refinancing certain redevelopment activities of the Former RDA through the refunding of certain outstanding bonds of the Former RDA; (ii) paying the costs of issuing the Bonds; (iii) funding a reserve account and/or providing for a reserve policy or surety for deposit to the reserve account for the Bonds; and, (iv) if advisable, paying for the cost of municipal bond insurance and/or a surety to fund the reserve account for the Bonds in lieu of funding all or a portion of such reserve account with bond proceeds; WHEREAS, there is approximately $5,831,788 of unspent proceeds of the Community Redevelopment Agency of the City of Santa Ana Tax Allocation Bonds (Merged Project Area), 2011 Series A (the "Series 2011 Bonds"), which the Successor Agency expects to apply in accordance with Health and Safety Code Section 34191.4(c)(2) to the defeasance of the Series 2011 Bonds, as specified in its resolution adopted on July 17, 2018; and, WHEREAS, a copy of the Official Statement in preliminary form, a final form of which will be executed by the Successor Agency in connection with the issuance, sale and delivery of the Bonds, is on file with the Secretary of the Successor Agency. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA ANA ACTING AS SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA DOES HEREBY RESOLVE AS FOLLOWS: 1. Acknowledgement of Prior Approval of Issuance of Bonds. The City Council acting for the Successor Agency, acknowledges that it adopted its resolution on July 17, 2018, and through such resolution it approved the issuance of the Bonds and related financing documents. 2. Approval of Preliminary Official Statement. The form, terms and provisions of the Preliminary Official Statement on file with the Secretary of the Successor Agency are approved, and the Successor Agency hereby approves the distribution of the Preliminary Official Statement to prospective purchasers of the Bonds. The City Manager, or designee ("Authorized Officer," acting for the Successor Agency), is authorized to certify on behalf of the Successor Agency that the Preliminary Official Statement is deemed final as of its date, within the meaning of Rule 15c2-12 promulgated under the Securities Exchange Act of 1934, as amended. Any Authorized Officer is authorized to execute, at the time of sale of the Bonds, said form of Preliminary Official Statement, as revised to include pricing information in the form of a final Official Statement (the "Official Statement'), with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to the Successor Agency, such approval to be conclusively evidenced by the delivery thereof. Resolution No. 2018-003 Page 2 of 4