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141 <br /> <br />RESOLUTION NO. 86-~ <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA, CALIFORNIA, APPROVING THE ISSUANCE <br />BY THE CITY OF SANTA ANA COMMUNITY <br />REDEVELOPMENT AGENCY OF ITS SANTA ANA SOUTH <br />MAIN STREET REDEVELOPMENT PROJECT, TAX <br />ALLOCATION REFUNDING BONDS, 1986 SERIES A AND <br />MAKING CERTAIN DETERMINATIONS RELATING THERETO <br /> <br /> WHEREAS, the City of Santa Aha Community Redevelopment <br />Agency (the "Agency") is a redevelopment agency duly created, <br />established and authorized to transact business and exercise <br />its powers, all under and pursuant to the Community <br />Redevelopment Law (Part 1 of Division 24 (commencing with <br />Section 33000) of the Health and Safety Code of the State of <br />California) and the powers of the Agency include the power to <br />issue bonds for any of its corporate purposes; and <br /> <br />WHEREAS, the Agency has adopted its Resolution entitled: <br /> <br />"RESOLUTION OF THE CITY OF SANTA ANA <br />COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING <br />THE ISSUANCE OF SANTA ANA SOUTH MAIN STREET <br />REDEVELOPMENT PROJECT TAX ALLOCATION <br />REFUNDING BONDS OF SAID AGENCY IN A <br />PRINCIPAL AMOUNT OF NOT TO EXCEED <br />TWENTY-FOUR MILLION DOLLARS ($24,000,000) <br />AND APPROVING THE OFFICIAL STATEMENT AND <br />BOND PURCHASE AGREEMENT IN CONNECTION <br />THEREWITH" <br /> <br />;and <br /> <br /> WHEREAS, under and pursuant to the above Resolution, the <br />Agency has authorized the issuance and sale of approximately <br />$24,000,000 Santa Aha South Main Street Redevelopment Project, <br />Tax Allocation Refunding Bonds, 1986 Series A (the "Bonds"). <br /> <br /> NOW THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA, CALIFORNIA, AS <br />FOLLOWS: <br /> <br /> Section 1. Approval of Issuance of Bonds. The issuance of <br />Bonds in the principal amounts set forth in the recitals hereof <br />in order to aid in the refunding of the outstanding $19,000,000 <br />principal amount of South Main Street Redevelopment Project Tax <br />Allocation Bonds, 1984 and financing of the Redevelopment <br />Project, and for other purposes related thereto, all of which <br />constitute a "redevelopment activity", as such term is defined <br />in Health and Safety Code Section 33678, is hereby authorized <br />and approved pursuant to Health and Safety Code Section 33640. <br /> <br /> <br />