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RESOLUTION NO. 94-002-SAFA RESOLUTION AUTHORIZING AND DIRECTING THE SALE OF NOT TO EXCEED $24,000,000 PRINCIPAL AMOUNT OF SANTA ANA FINANCING AUTHORITY WATER REVENUE BONDS, SERIES 1994; AUTHORIZING THE PUBLICATION OF OFFICIAL NOTICE OF SALE RELATING THERETO; APPROVING THE PREPARATION AND DISTRIBUTION OF AN OFFICIAL STATE~4ENT; AUTHORIZING THE SALE OF SUCH BONDS ON CERTAIN TERMS AND CONDITIONS; AND AUTHORIZING CERTAIN OTHER OFFICIAL ACTION IN CONNECTION THEREWITH. WHEREAS, the Santa Aha Financing Authority (herein called the "Authority"), by resolution duly provided for the issuance of not to exceed $24,000,000 principal amount of Santa Ana Financing Authority Water Revenue Bonds, Series 1994 (herein called the "Series 1994 Bonds"), and it is desirable that the Series 1994 Bonds be offered for public sale; NOW, THEREFORE, BE IT RESOLVED by the Santa Aha Financing Authority, as follows: Section 1. The office of Orrick, Herrington & Sutcliffe ("Bond Counsel"), LOS Angeles, California is hereby fixed as the place, and the Executive Director of the Authority, in consultation with Kelling, Northcross & Norbri~a, the Authority's financial consultant (the "Financial Consultant"), shall fix a time or times, not later than four months from the date of adoption of this resolution (the "Sale Date"), at which bids will be received for the purchase of the Series 1994 Bonds, subject to the terms and conditions of the notice of sale hereinafter set forth. Section 2. The principal amount of Series 1994 Bonds to be sold shall be established by the Executive Director of the Authority, in consultation with the Financial Consultant, but shall not exceed $24,000,000. Section 3. The Official Notice of Sale shall be in substantially the following form with such changes, additions and completions as the Executive Director of the Authority may approve with the advice of counsel: