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R~L: adg <br />1/ll/ 5 <br /> <br />RESOLUTION NO. 85- 3 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA RELATING TO THE ISSUANCE <br />OF BONDS FOR THE PURPOSE OF FINANCING THE <br />ACQUISITION AND CONSTRUCTION OF VARIOUS <br />MULTI-FAMILY RESIDENTIAL RENTAL PROJECTS <br />AND RELATED FACILITIES <br /> <br /> WHEREAS, the City Council of the City of Santa Ana <br />(the "City") is authorized to issue bonds pursuant to the <br />provisions of California Health and Safety Code, Division 31, <br />Part 5 (Sections 52000 et seq.) (the "Law") for the purpose of <br />providing financing for the acquisition and construction of <br />multi-family residential rental projects located within the <br />City; and <br /> <br /> WHEREAS, the various property owners and/or developers <br />listed in Exhibit A hereto (collectively, the "Developers") <br />have requested the City to issue and sell its revenue bonds <br />pursuant to the procedures specified in the Law for the purpose <br />of financing the acquisition and construction of certain land <br />and facilities consisting of multi-family residential rental <br />projects and underlying land and related and appurtenant <br />facilities located at the respective addresses set forth in <br />Exhibit A (collectively, the "Projects") to be acquired and <br />constructed by the Developers within the City, and the City <br />Council wishes to induce the Developers to acquire, construct <br />and develop the Projects in the City; and <br /> <br /> WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the City <br />that the City Council authorize the Bonds for the aforesaid <br />purposes; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Santa Ana as follows: <br /> <br /> <br />