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LR 5/7/2024 <br />RESOLUTION NO.2024-002 <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE CREATION OF <br />THE CITY OF SANTA ANA PUBLIC FINANCING <br />AUTHORITY AND CERTAIN OTHER MATTERS <br />PERTAINING 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 City <br />of Santa Ana (the "City") and the Housing Authority for the purpose of assisting <br />the members of such joint powers authority with the financing of public capital <br />improvements for the benefit of the community; and <br />B. WHEREAS, it has been proposed that the City and the Housing Authority form <br />a joint powers authority to be designated as the "City of Santa Ana Public <br />Financing Authority" (the "Financing Authority"), pursuant to a Joint Exercise of <br />Powers Agreement (the "Joint Powers Agreement"), by and between the City <br />and the Housing Authority, dated May V , 2024, a copy of which has been <br />presented to the Members, pursuant to the Joint Powers Law (Articles 1 <br />through 4 of Chapter 5, division 7, Title 1 of the California Government Code); <br />and <br />C. WHEREAS, the Members of the Housing Authority, with the aid of its staff, has <br />reviewed the Joint Powers Agreement and the Members wish to approve the <br />Joint Powers Agreement, the creation of the Financing Authority and matters <br />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 />5 5394.00068\4210502 1.1 <br />Resolution No. 2024-002 <br />Page 1 of 2 <br />