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Section 20-64. Hearing. <br /> <br /> At the time and place flied for the hearing on the resolution declaring the <br />necessity for incurring the bonded indebtedness or at any time and place to which the <br />hearing is adjourned, the City Council shall proceed with the hearing. Said hearing may <br />be consolidated With the hearing referred to in Section 20-23 on the formation of the <br />district. <br /> <br /> At the hearing any person interested, including persons owning property within <br />the district, may appear and present any matters material to the questions set forth in <br />the resolution declaring the necessity for incurring the bonded indebtedness. <br /> <br />Section 20-65. <br />proceedings. <br /> <br />Improvement area; resolution designating; application of <br /> <br /> For purpose of' financing of, or contributing to the financing of, specified facilities, <br />the City Council may by resolution designate a portion or portions of the district as one <br />or more improvement areas. An area shall be known as "Improvement Area No. "of <br />"Community Facilities District of the City of Santa Ana~. After the designation of an <br />improvement area, all proceedings for purposes of a bond election and for the purpose of <br />levying special taxes for payment of the bonds shall apply only to the improvement area <br />for those specified facilities. <br /> <br />Section 20-66. Resolution; bonded indebtedness. <br /> <br /> After the City Council has held the hearing pursuant to Section 20-61(d), if it <br />deems it necessary to incur the bonded indebtedness, it shall by resolution state all of the <br />following: <br /> <br />(a) That it deems it necessary to incur the bonded indebtedness. <br /> <br />(b) The purpose for which the bonded indebtedness will be incurred. <br /> <br />(c) Either of the following in accordance with its previous determination: <br /> <br />(1) That the whole of the district will pay for the bonded <br /> indebtedness. <br /> <br />(2) <br /> <br />That a portion of the district will pay for the bonded <br />indebtedness, which portion shall be described in the resolution <br />of the City Council made pursuant to Section 20-65. <br /> <br />(d) The principal amount of debt to be incurred. <br /> <br /> (e) The maximum term the bonds to be issued, which term shall not exceed <br />50 years. <br /> <br /> (f) The maximum annual rate of interest to be paid, payable annually or <br />"semiannually, or in part annually and in part semiannually, or in such other <br /> manner as shall be provided by the City Council. <br /> <br />-28- <br /> <br /> <br />