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22? <br /> <br />RESOLUTION NO. 94- 005 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA APPROVING A FIRST AMENDMENT TO <br />INDENTURE OF TRUST AND A FIRST AMENDMENT TO <br />LOAN AGREEMENT, AUTHORIZING AND DIRECTING THE <br />EXECUTION AND DELIVERY THEREOF AND OF OTHER <br />DOCUMENTS AND ACTIONS TO BE TAKEN IN <br />CONNECTION THEREWITH IN CONJUNCTION WITH THE <br />GRAND PARTNERSHIP PROJECT. <br /> <br /> WHEREAS, the City of Santa Ana (the "Issuer") has issued its <br />Variable Rate Demand Industrial Development Revenue Bonds, Series <br />1984 (The Grand Partnership Project) in the aggregate principle <br />amount of $9,600,000 (the "Bonds") pursuant to an Indenture of <br />Trust (the "Indentures"), dated as of October 1, 1984, from the <br />Issuer to First Interstate Bank of California, as Trustee (the <br />"Trustee"); and <br /> <br /> WHEREAS, ATC Realty Sixteen, Inc., the owner by succession of <br />the project financed with the proceeds of the Bonds (the <br />"Developer"), has requested that the Issuer amend the Indenture and <br />the Loan Agreement, dated as of October 1, 1984, by and between the <br />Issuer and the Developer (the "Loan Agreement") to provide for the <br />payment of the Bonds upon optional redemption from amounts drawn on <br />the letter of credit securing the Bonds; and <br /> <br /> WHEREAS, Section 9.01(b) of the Indenture provides that the <br />Indenture may be amended by the execution of a supplemental <br />indenture for the purpose of curing any ambiguity, inconsistency or <br />omission contained in the Indenture which shall not adversely <br />affect the interest of the owners of the Bonds; and <br /> <br /> WHEREAS, Section 10.4 of the Loan Agreement provides for the <br />amendment of such Loan Agreement upon the written consent of the <br />Trustee and the Letter of Credit Bank (as defined in the Loan <br />Agreement) and in accordance with the provisions of the Indenture; <br />and <br /> <br /> WHEREAS, the Developer, the Letter of Credit Bank and the <br />Trustee have consented to the execution and delivery of a First <br />Amendment to Indenture of Trust, and the Developer, the Bank and <br />the Trustee have consented to the execution and delivery of a First <br />Amendment to Loan Agreement. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA AS FOLLOWS: <br /> <br />SECTION 1: The First Amendment to Indenture of Trust (the <br />"Indenture Amendment") between the Issuer and the Trustee, in the <br />form presented to th~s meeting, is hereby approved. The Mayor, <br /> <br /> <br />