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REL:ms <br />2/28/78 <br /> <br />RESOLUTION NO. 78-23 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA, CALIFORNIA, APPROVING THE <br />ISSUANCE OF $13,500,000, PRINCIPAL AMOUNT <br />OF TAX ALLOCATION BONDS OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA TO FINANCE A PORTION OF THE COST OF A <br />REDEVELOPMENT PROJECT IN SAID'CITY KNOWN <br />AS THE CITY OF SANTA ANA REDEVELOPMENT <br />PROJECT AREA <br /> <br /> WHEREAS, the Community Redevelopment Agency of <br />the City of Santa Ana, is a redevelopment agency (a public <br />body, corporate and politic) duly created, established and <br />authorized to transact business and exercise its powers, all <br />under and pursuant to the Community Redevelopment Law (Part I <br />of Division 24 of the Health and Safety Code of the State of <br />California) and the powers of said agency include the power <br />to issue bonds for any of its corporate purposes; and <br /> <br /> WHEREAS, a redevelopment plan for a redevelopment <br />project known and designated as "City of Santa Ana Redevelop- <br />ment Project Area" has been adopted and approved and all re- <br />quirements of law for, and precedent to, the adoption and <br />approval of said plan have been duly complied with; and <br /> <br /> WHEREAS, the plan contemplates that the Agency will <br />issue its bonds to finance a portion of the cost of such re- <br />development; <br /> <br /> WHEREAS, the Council has been informed by the Agency <br />that the Agency deems it necessary to issue tax allocation <br />bonds for the aforesaid purposes; <br /> <br /> <br />