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WHEREAS, the City has determined to engage in a <br />program of making loans to health facilities pursuant to the <br />Law, and has determined to borrow money for such purpose by <br />issuance of revenue bonds, as authorized by Law; <br /> <br /> WHEREAS, the Council has, by Resolution No. 85-111, <br />adopted by the Council on September 17, 1985, given preliminary <br />approval to the issuance of such bonds to fund a loan to <br /> <br />Western Medical Center, a nonprofit <br />"Corporation') to refinance certain <br />the Corporation with respect to its <br /> <br />corporation (the <br />existing indebtedness of <br />existing health facilities <br /> <br />the <br /> <br />and to pay, or to reimburse the Corporation for payment of, the <br />cost of certain equipment, capital improvements and capital <br />expenses (the 'Project"); <br /> <br /> WHEREAS, the City has further determined to issue such <br />revenue bonds, designated as 'City of Santa Ana Variable Rate <br />Demand Revenue Bonds (Western Medical Center), Series 1986A' <br />(the 'Bonds'), in an aggregate principal amount not to exceed <br />thirty-four million dollars ($34,000,~00) for the above-stated <br />purpose; <br /> <br /> WHEREAS, assisting in the financing of health <br />facilities promotes the purposes of the Law, is in the public <br />interest, serves a public purpose, promotes the health, welfare <br />and safety of the citizens of the City, and constitutes a <br />municipal affair; <br /> <br /> WHEREAS, pursuant to Section 147(f) of the Internal <br />Revenue Code of 1986, as amended (the 'Code"), the Bonds are <br /> <br />2 <br /> <br /> <br />