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RESOLUTION NO. 84- 133 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING THE ISSUANCE OF BONDS FOR <br />THE PURPOSE OF FINANCING THE ACQUISITION AND CON- <br />STRUCTION OF A COMMERCIAL MULTI-FAMILY HOUSING <br />COMPLEX AND RELATED FACILITIES BY W. JACKSON <br />BRANSFORD AND KATHRYN L. BRANSFORD AS CO-TRUSTEES <br />UNDER THE BRANSFORD LIVING TRUST <br /> <br /> WHEREAS, the City Council of the City of Santa Ana <br />(the "City") has adopted its Ordinance No. NS-1609 (the <br />"Ordinance") authorizing the City to issue and sell its <br />bonds, notes, interim certificates, debentures or other <br />obligations ("Bonds") pursuant to the City Charter for the <br />purpose of providing financing for the acquisition, rehab- <br />ilitation, construction and improvement of industrial and <br />commercial projects located within the City: <br /> <br /> WHEREAS, W. Jackson Bransford and Kathryn L. <br />Bransford as co-trustees under the Bransford Living Trust, <br />and successors and assigns ("Developer") have requested the <br />City to issue and sell its revenue bonds for the purpose of <br />financing the acquisition of property and construction of a <br />commercial multi-family housing complex and related facili- <br />ties (the "Project"), to be constructed by the Developer <br />within the City, and the City Council wishes to induce the <br />Developer to construct and develop the Project in the City; <br />and <br /> <br /> WHEREAS, it is in the public interest, for the <br />public benefit and in furtherance of the public purposes of <br />the City that the City Council authorizes Bonds for the <br />aforesaid purposes; <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AS FOLLOWS: <br /> <br /> 1. The City Council hereby authorizes the issuance <br />and sale of Bonds o~ the City pursuant to the City Charter <br />and the procedures specified in the Ordinance in a principal <br />amount of not to exceed Six Million Dollars ($6,000,000) for <br />the purpose of financing the acquisition of land and con- <br />struction of the Project located on the west side of Harbor <br />Boulevard approximately 100 feet from Westminster Avenue <br />(Orange County Assessor's Parcel Number 198-032-10). Such <br />authorization is for the purpose of inducing the Developer <br />to undertake to construct and develop the Project and, in <br />particular, to do so at such location. <br /> <br /> 2. The issuance and sale of said bonds shall be upon <br />such terms and conditions as may be mutually agreed upon by <br /> <br /> <br />