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RESOLUTION NO. 93- 096 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA APPROVING THE REFI- <br />NANCING OF CERTAIN PRIOR OBLIGATIONS FOR <br />THE BENEFIT OF THE CITY OF SANTA ANA <br />REDEVELOPMENT PROJECT BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA <br /> <br /> WHEREAS, the Community Redevelopment Agency of the city <br />of Santa Ana (the "Agency") is authorized pursuant to Part 1 of <br />Division 24 (commencing with Section 33000 of the California <br />Health and Safety Code (the "Act")) to issue bonds for any of its <br />corporate purposes; and <br /> <br /> WHEREAS, in order to finance certain redevelopment <br />activities and to refinance certain outstanding obligations of <br />the Agency, the Agency has indicated its intention to issue not <br />to exceed $98,000,000 aggregate principal amount of City of Santa <br />Ana Redevelopment Project Subordinate Tax Allocation Refunding <br />Bonds, Series 1993B (the "Bonds"); and <br /> <br /> WHEREAS, pursuant to the Act, the City Council also <br />must authorize the issuance of the Bonds by the Agency; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the city Council of <br />the City of Santa Ana as follows: <br /> <br /> 1. This City Council hereby approves the refinancing <br />of certain outstanding obligations originally issued to finance <br />or refinance certain redevelopment activity within the city of <br />Santa Ana Redevelopment Project, all of which constitute a <br />"redevelopment activity" as such term is defined in Section 33678 <br />of the Act, by means of the issuance of not to exceed $98,000,000 <br />aggregate principal amount of the Agency's City of Santa Ana <br />Redevelopment Project Subordinate Tax Allocation Refunding Bonds, <br />Series 1993B, pursuant to the provisions and subject to the <br />requirements of the Act. This approval is intended to satisfy <br />the requirements of Health and Safety Code section 33640. <br /> <br /> <br />