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55394.00068\42105021.1 <br />Resolution No. 2024-XXX <br />Page 1 of 3 <br />LR 5/7/2024 <br />RESOLUTION NO. 2024-XXX <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA <br />AUTHORIZING THE CREATION OF THE CITY OF SANTA ANA PUBLIC <br />FINANCING AUTHORITY AND CERTAIN OTHER MATTERS PERTAINING <br />THERETO <br />BE IT RESOLVED BY THE MEMBERS OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA AS FOLLOWS: <br />Section 1. The Members of the Housing Authority of the City of Santa Ana <br />hereby find, determine and declare as follows: <br />A.WHEREAS, the Housing Authority of the City of Santa Ana (the “Housing <br />Authority”) has determined that it is in the best interests of the Housing <br />Authority to approve a joint powers authority which shall be created by the <br />City of Santa Ana (the “City”) and the Housing Authority for the purpose of <br />assisting the members of such joint powers authority with the financing of <br />public capital improvements for the benefit of the community; and <br />B.WHEREAS, it has been proposed that the City and the Housing Authority <br />form a joint powers authority to be designated as the "City of Santa Ana <br />Public Financing Authority" (the "Financing Authority"), pursuant to a Joint <br />Exercise of Powers Agreement (the "Joint Powers Agreement"), by and <br />between the City and the Housing Authority, dated ________, 2024, a copy <br />of which has been presented to the Members, pursuant to the Joint Powers <br />Law (Articles 1 through 4 of Chapter 5, division 7, Title 1 of the California <br />Government Code); and <br />C.WHEREAS, the Members of the Housing Authority, with the aid of its staff, <br />has reviewed the Joint Powers Agreement and the Members wish to <br />approve the Joint Powers Agreement, the creation of the Financing <br />Authority and matters related thereto. <br />Section 2. Creation of Authority. The Members of the Housing Authority hereby <br />approves the creation of the Financing Authority, the membership of the Housing <br />Authority therein and the Joint Powers Agreement. The Chair and the Secretary are and <br />each of them is hereby authorized and directed to execute and delivery the Joint Powers <br />Agreement for and on behalf of the Housing Authority with any such changes as the Chair <br />or the Chair’s designee may deem appropriate. <br />EXHIBIT 1