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RESOLUTION NO. 93-004 <br /> <br />City, 1993A <br /> <br />APPROVING THE FORMS OF AND AUTHORIZING THE <br />EXECUTION AND DELIVERY BY THE CITY OF A <br />LEASE, A TRUST AGREEMENT, AN ESCROW AGREEMENT <br />AND A PURCHASE CONTRACT WITH RESPECT TO THE <br />EXECUTION AND SALE OF CITY OF SANTA ANA <br />CERTIFICATES OF PARTICIPATION (PAP~KING <br />FACILITIES REFUNDING PROJECT) SERIES 1993A, <br />AUTHORIZING THE EXECUTION OF SUCH <br />CERTIFICATES IN AN AGGREGATE PRINCIPAL AMOUNT <br />NOT TO EXCEED $18,000,000, AUTHORIZING THE <br />DISTRIBUTION OF AN OFFICIAL STATEMENT IN <br />CONNECTION THEREWITH, AUTHORIZING AND <br />APPROVING EXECUTION OF NECESSARY DOCUMENTS <br />AND RELATED ACTIONS. <br /> <br /> WHEREAS, the City of Santa Ana (the "City") is a <br />municipal corporation duly organized and existing under the <br />Constitution and laws of the State of California; and <br /> <br /> WHEREAS, the Community Redevelopment Agency of the city <br />of Santa Ana (the "Agency") is a redevelopment agency duly <br />created, established and authorized to transact business and <br />exercise its powers, all under and pursuant to the Community <br />Redevelopment Law, being Section 33000 and following of the <br />Health and Safety Code of the State of California; and <br /> <br /> WHEREAS, the Agency has heretofore leased certain real <br />property to the City pursuant to a Lease/Purchase Agreement, <br />dated as of July 1, 1986, and recorded on August 21, 1986 in the <br />Office of the County Recorder of Orange County as Recorder's <br />Instrument No. 86-374445 in the official Records of the County <br />(the "1986 Lease") under the terms of which the Agency agreed to <br />cause the acquisition and construction of certain parking <br />facilities and related improvements (the "Project"); and <br /> <br /> WHEREAS, the City, pursuant to the 1986 Lease is <br />required to make certain base rental payments to the Agency; and <br /> <br /> WHEREAS, the Agency assigned its right to receive such <br />base rental payments to First Interstate Bank of California (the <br />"1986 Trustee"); and <br /> <br /> WHEREAS, the 1986 Trustee, the Agency and the City have <br />heretofore entered into a Trust Agreement, dated as of July 1, <br />1986 pursuant to which the 1986 Trustee executed and delivered <br />certificates of ~articipation (the "1986 Certificates") <br />evidencing and representing proportionate interests in such base <br />rental payments; and <br /> <br /> <br />