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were given an opportunity to be heard on all matters relative to the financing and <br />operation of the Project and the Authority's issuance of the Bonds therefore; and <br /> <br />Section 2. The City Council of the City of Santa Ana, as the "applicable elected <br />representative" of the Authority, hereby approves of the issuance of the Bonds as in the <br />public interests of the Authority. <br /> <br />Section 3. The City Council hereby approves the financing of the acquisition and <br />rehabilitation of the Project by the Authority under the Law. <br /> <br />Section 4. The issuance of the Bonds shall be subject to approval by the Authority of all <br />financing documents relating thereto to which the Authority is a party and subject to the <br />sale of the Bonds by the Authority to the underwriter thereof. <br /> <br />Section 5. The adoption of this Resolution shall not obligate (i) the City to provide <br />financing to the Developer for the acquisition, rehabilitation and development of the <br />Project or to issue the Bonds for purposes of such financing; or (ii) the City, or any <br />department of the City, to approve any application or request for, or take any other <br />action in connection with, any environmental, General Plan, zoning or any other permit <br />or other action necessary for the acquisition, rehabilitation, development or operation of <br />the Project. <br /> <br />Section 6. This resolution shall take effect immediately. <br /> <br />ADOPTED this 2nd day of September, 2003. <br /> <br />APPROVED AS TO FORM: <br />Joseph W. Fletcher, City Attorney <br /> <br />Lisa E. Storck <br />Assistant City Attorney <br /> <br />Resolution No. 2003-074 <br />Page 2 of 3 <br /> <br /> <br />