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JHHW/TEC: dl v 6-27-85 RESOLUTION 8543 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $20,000,000 AGGREGATE PRINCIPAL AMOUNT OF ITS HOME MORTGAGE REVENUE BONDS, 1985 SERIES A AND PROVIDING THE TERMS AND CONDITIONS FOR THE ISSUANCE AND SALE OF SAID BONDS WHEREAS, Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") authorizes cities to incur indebtedness for the purpose of financing home mortgages authorized by the Act; and WHEREAS, the City Council of the City of Santa Aha hereby finds and declares that it is necessary, essential and a public purpose for the City of Santa Ana (the "City") to finance home mortgages pursuant to the Act, in order to increase the housing supply in the city for persons and families within the income limitations established by the Act; and WHEREAS, the City Council of the City of Santa Ana finds and determines that it is in the best interest of the City to engage in a home financing program (the "Program") pursuant to the Act for persons within income limits estab- lished by the Act for purpose of encouraging the construction of homes affordable by such persons; and WHEREAS, the City Council of the City of Santa Ana finds and determines that the Program complies with the land use element and housing element of the general plan of the City; and WHEREAS, the City Council of the City of Santa Ana hereby finds and declares that this Resolution is being adopted pursuant to the powers granted by the Act; and WHEREAS, the Mortgage Bond Allocation Committee of the State of California has, on February 13, 1985, authorized the City to issue its home mortgage revenue bonds (the "Bonds") in an aggregate principal amount not to exceed $27,000,000 in accordance with the Act and the Program of the City; and