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RESOLUTION NO. 93- 003 SAFA <br /> <br />A RESOLUTION OF THE SANTA ANA FINANCING AUTHORITY <br />AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND <br />PURCHASE AGREEMENT BY AND BETWEEN THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, THE <br />SANTA ANA FINANCING AUTHORITY AND THE UNDERWRITER <br />NAMED THEREIN AND ACTIONS RELATED THERETO <br /> <br /> WHEREAS, the Community Redevelopment Agency of the City <br />of santa Ana (the "Agency") has determined to issue its Community <br />Redevelopment Agency of the City of Santa Aha, city of Santa Aha <br />Redevelopment Project Subordinate Tax Allocation Refunding Bonds, <br />Series 1993B, in the aggregate principal amount of not to exceed <br />$98,000,000 (the "Bonds"); and <br /> <br /> WHEREAS, the Santa Ana Financing Authority (the <br />"Authority"), pursuant to the Marks-Roos Local Bond Pooling Act <br />of 1985 (Article 4, Chapter 5, Division 7, Title 1 of the <br />California Government Code) has the authority to purchase and <br />resell the Bonds; and <br /> <br /> WHEREAS, the purchase and resale by the Authority of <br />the Bonds will result in significant public benefits in the form <br />of demonstrable savings in effective interest rates, and the more <br />efficient delivery of local agency services; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Governing Board <br />of the Santa Ana Financing Authority, as follows: <br /> <br /> Section 1. The foregoing recitals are true and correct <br />and the Authority hereby so finds and determines. <br /> <br /> <br />