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provisions of the Community Redevelopment Law of the State of <br /> California; <br /> WHEREAS, Article 4 of Chapter 5 of Division 7 of Title 1 <br /> of the Government Code of the State of California (the "Marks-Roos <br /> Local Bond Pooling Act of 1985") authorizes and empowers the <br /> Authority to issue bonds and to purchase bonds issued, or to make <br /> loans to, the Agency or the City for financing public capital <br /> improvements, working capital, liability and other insurance needs, <br /> or projects whenever there are significant public benefits, as <br /> determined by the Agency or the City, as the case may be; <br /> WHEREAS, the Marks-Roos Local Bond Pooling Act of 1985 <br /> further authorizes and empowers the Authority to sell bonds so <br /> issued or purchased to public or private purchasers at public or <br /> negotiated sale; and <br /> WHEREAS, by this Agreement, the City and the Agency <br /> desire to create and establish the Santa Ana Financing Authority <br /> for the purposes set forth herein and to exercise the powers <br /> described herein; <br /> NOW, THEREFORE, the City and the Agency, for and in <br /> consideration of the mutual promises and agreements herein <br /> contained, do agree as follows: <br /> SECTION 1. DEFINITIONS <br /> Unless the context otherwise requires, the terms defined <br /> in this Section 1 shall for all purposes of this Agreement have the <br /> meanings herein specified. <br /> uia5527,2 2 <br />