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1099 RESOLUTION NO. 93-072 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE REFI- NANCING OF CERTAIN PRIOR OBLIGATIONS FOR THE BENEFIT OF THE SANTA ANA SOUTH MAIN STREET REDEVELOPMENT PROJECT BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA WHEREAS, the Community Redevelopment Agency of the City of Santa Ana (the "Agency") is authorized pursuant to Part 1 of Divis~ion 24 (commencing with Section 33000 of the California Health and safety Code (the "Act") to issue bonds for any of its corporate purposes; and WHEREAS, in order to finance certain redevelopment activities and to refinance certain outstanding obligations of the Agency, the Agency has indicated its intention to issue not to exceed $47,000,000 aggregate principal amount Of Santa Ana South Main Street Redevelopment Project Tax Allocation Refunding Bonds, Series 1993D (the "Bonds"); and WHEREAS, pursuant to the Act, the city Council also must authorized the issuance of the Bonds by the Agency; NOW, THEREFORE, BE IT RESOLVED by the City Council of the city of Santa Ana as follows: 1. This City Council hereby approves the refinancing of certain outstanding obligations originally issued to finance certain redevelopment activity within the Santa Ana South Main Street Redevelopment Project, and the financing of certain redevelopment projects, all of which constitute a "redevelopment activity" as such term is defined in Section 33678 of the Act, by means of the issuance of not to exceed $47,000,000 aggregate principal amount of the Agency's Santa Ana South Main Street Redevelopment Project Tax Allocation Refunding Bonds, Series 1993D, pursuant to the provisions and subject to the requirements of the Act. This approval is intended to satisfy the requirements of Health and Safety Code section 33640. 2. This Resolution shall take effect immediately upon adoption.