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Cont. (Part 3)
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Vol. 1- City of Santa Ana Financing Authority (Police Admin. and Holding Facility)
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Cont. (Part 3)
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underwriters' discount and a premium of $3 , 657, 901 . 15) plus <br /> accrued interest on the Bonds (other than capital appreciation <br /> bonds and auction and inverse rate securities described below) <br /> from the date of the Bonds to the date of Closing (as hereafter <br /> defined) . The Bonds are issued pursuant to an Indenture, dated <br /> as of March 1, 1994 between the Authority and Meridian Trust <br /> Company of California, San Francisco, California, as trustee (the <br /> "Trustee") . The Bonds shall be dated as of March 1, 1994, except <br /> the Bonds maturing in the years 2001 through 2003 , inclusive, <br /> which are capital appreciation bonds and which shall be dated the <br /> date of original delivery and except the Bonds maturing in 2014 <br /> which are Auction and Inverse Rate Securities and which shall be <br /> dated the date of original delivery. The Bonds shall be <br /> authenticated and delivered by the Trustee pursuant to the <br /> Indenture and shall be as described in the Indenture and the <br /> Official Statement relating to the Bonds. <br /> The Bonds are secured by Revenues of the Authority described <br /> in the Indenture, including certain Base Rental payments received <br /> by the Authority from the City pursuant to a Lease, dated as of <br /> March 1, 1994, between the Authority and the City (the "Lease" ) <br /> for certain police administration and holding facilities <br /> described therein. The Authority will use the proceeds of the <br /> Bonds to (i) acquire and construct certain police administration <br /> and holding facilities described in the Lease, (ii) fund a <br /> reserve fund, and (iii) pay certain costs of issuance. <br /> The Authority has received a written commitment from <br /> Municipal Bond Investors Assurance Corporation (the "Insurer") to <br /> issue, upon fulfillment of certain conditions, a municipal bond <br /> insurance policy (the "Policy") insuring payment of principal of, <br /> and interest with respect to, the Bonds, as the same become due, <br /> as described in the Official Statement. <br /> 2 . Public Offering. The Underwriters agree to make a bona <br /> fide public offering of all the Bonds initially at the public <br /> offering prices (or yields) set forth on Appendix A attached <br /> hereto and incorporated herein by reference. Subsequent to the <br /> initial public offering, the Underwriters reserve the right to <br /> change the public offering prices (or yields) as it deems <br /> necessary in connection with the marketing of the Bonds, provided <br /> that the Underwriters shall not change the interest rates set <br /> forth on Appendix A. The Bonds may be offered and sold to <br /> certain dealers at prices lower than such initial public offering <br /> prices . <br /> 3 . Delivery of Official Statement on the Date Hereof. <br /> Pursuant to the authorization of the Authority and the City, the <br /> Underwriters have distributed copies of the Preliminary Official <br /> Statement dated February 25, 1994, relating to the Bonds, which, <br /> together with the cover page and appendices thereto, is herein <br /> called the "Preliminary Official Statement. " By its acceptance <br /> of this proposal, the Authority and the City hereby ratifies the <br /> 2 <br />
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