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RESOLUTION NO. ~o71 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE ISSUANCE OF NOT TO EXCEED i~ $21,000,000 PRINCIPAL AMOUNT OF TAX ALLOCATION REFUNDING BONDS BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA W~E.n.~.AS, the Community Redevelopment Agency of the City of Santa Aha (the 'Agency~) has previously issued its City of Santa Aha Comr~tl~ity Redevelopment Agency, City of Santa Aha Redevelopment Project Area, Tax Allocation Refunding Bonds, 1985 Series E, dated as of December 15, 1985, (the 'Series E Bonds') for the purpose of providing funds to pay the obligations of the Agency under the Participation Agreement between the Agency and Santa Aha Venture relating to the Main_Place Project within the City of Santa Ana Redevelopment Project; and WI~.RF_J~, the Series E Bonds are subject to redemption or mandatory tender on December 15, 1989, and the Agency wishes at this ~me to issue its City of Santa Aha Redevelopment Project 1989 Tax Allocation Refunding Bonds (MainPlace Project) in the aggregate principal amount of not to exceed $21,000,000 (the 'Bonds') pursuant to the Comm~mi~,y Redevelopment Law and pursuant to the provisions of Article 11 of Chapter 3 of Part 2 of Division 2 of Titie 5 of the Govar~ment Code of the State of California, for the purpose of providing funds to retire ail of the outstanding Series E Bonds on December 15, 1989; and WI~.~F. AS, in accordance with the requirements of Section 33640 of the CRllrornia Health and Safety Code, the City Council wishes at ,~l~i.~ time to approve the issuance of the Bonds by the Agency;