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Notice of said public hearing has been duly given as required by the <br />Code, and this City Council has heretofore held such public hearing at <br />which all interested persons were given an opportunity to be heard on all <br />matters relative to the financing and operation of the Project and the <br />Authority's issuance of the Bonds; and <br /> <br />The City Council of the City of Santa Ana, as the "applicable elected <br />representative" of the Authority, approves of the issuance of the Bonds as <br />in the public interests of the Authority. <br /> <br /> Section 2: The City Council hereby finds and determines that the foregoing <br />recitals are true and correct. <br /> <br /> Section 3: The City Council hereby approves the financing of the acquisition <br />and rehabilitation of the Project by the Authority under the Law. <br /> <br /> Section 4: The issuance of the Bonds shall be subject to approval by the <br />Authority of all financing documents relating thereto to which the Authority is a party <br />and subject to the sale of the Bonds by the Authority to the underwriter thereof. <br /> <br />Section 5: This resolution shall take effect immediately upon its adoption. <br /> <br />ADOPTED this 21st day of Janua~, 2003. <br /> <br /> ~-' Mayor <br /> <br />APPROVED AS TO FORM: <br />Joseph W. Fletcher, City Attorney <br /> <br />Lisa E. Storck <br />Assistant City Attorney <br /> <br />Resolution No. 2003-012 <br />Page 2 of 3 <br /> <br /> <br />