2004-001 SAFA - Laserfiche WebLink

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acquisition, construction and installation of the Project through the issuance by the Authority of Santa Ana Financing Authority Police Administration and Holding Facility Lease Revenue Bonds, Series 1994A) (the "Series 1994 Bonds") payable from the base rental payments (the "Base Rental") to be made by the City under the Original Lease; D. All rights to receive such Base Rental were assigned without recourse by the Authority to Meridian Trust Company of California, as predecessor trustee to BNY Western Trust Company (the "Trustee") pursuant to an Assignment Agreement, dated as of March 1, 1994 (the "Original Assignment Agreement"); E. In consideration of such assignment and the execution of the Indenture, dated as of March 1, 1994 (the "Original Indenture"), by and among the Trustee and the Authority, the Authority issued the Series 1994 Bonds (capitalized undefined terms used in these recitals shall have the meanings ascribed thereto in the Original Indenture); F. All of the real property leased and subleased, as applicable, under the Ground Lease and the Original Lease, except the Site and the improvements thereon, were subsequently released therefrom pursuant to Section 2.06 of the Original Lease; G. The Original Indenture provides that, subject to the conditions set forth therein, in addition to the Series 1994 Bonds, the Authority and the Trustee may by execution of a Supplemental Indenture, without the consent of the Owners, provide for the issuance of Additional Bonds, payable from additional Base Rental; H. The Original Lease provides that, the Original Lease and the rights and obligations of the Authority and the City thereunder may be amended or supplemented at any time by an amendment thereof or supplement thereto which shall become binding upon execution by the Authority and the City, without the written consents of any Owners, in order to provide for the issuance of Additional Bonds in accordance with the provisions of the Indenture; I. In order to achieve certain savings, the City desires to refinance a portion of the Project by exercising its option to prepay a portion of the Base Rental to be made by the City pursuant to the Original Lease allocable to a portion of the Series 1994 Bonds; J. In order to accomplish such refinancing, the Authority and the City desire to enter into a First Amendment to Lease (the "First Lease Amendment") in order to amend the Original Lease so as to provide for additional Base Rental payable thereunder and to make certain other modifications in Resolution No. SAFA 2004-001 Page 2 of 7