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<br />. <br /> <br />. <br /> <br />EJC:ar <br />11/27/79 <br /> <br />RESOLUTION NO. 79-S' <br /> <br />. <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY <br />OF THE CITY OF SANTA ANA <br />CANCELLING A LOST PROMISSORY NOTE <br />AND AUTHORIZING EXECUTION OF A <br />SUBSTITUTE PROMISSORY NOTE <br /> <br />WHEREAS, on October 1, 1979, the Housing Authority <br />of the City of Santa Ana authorized execution of a promis- <br />sory note in favor of United California Bank, a charter bank <br />of the State of California ("UCB") in the amount of One <br />Hundred Thousand Dollars ($100,000.00), pursuant to that <br />certain agreement entitled "Loan Origination and Servicing <br />and Revolving Credit Agreement for the Santa Ana Housing <br />Rehabilitation Loan Program," form dated September 1, 1978, <br />a copy of which is on file in the office of the Recording <br />Secretary of the Housing Authority¡ and <br /> <br />WHEREAS, said promissory note was duly executed <br />but not delivered to UCB and subsequently became lost¡ and <br /> <br />. <br /> <br />WHEREAS, the Housing Authority of the City of <br />Santa Ana now desires to cancel said promissory note dated <br />October 1, 1979, giving notice thereof by this Resolution, <br />and authorizing execution of a new and different promissory <br />note in its place. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING <br />AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />1. The the promissory note executed by the Hous- <br />ing Authority of the City of Santa Ana in favor of United <br />California Bank in the amount of One Hundred Thousand <br />Dolalrs ($100,000), dated October 1, 1979, but not delivered, <br />be, and is hereby declared, cancelled and void as a lost <br />instrument. <br /> <br />2. That the Chairman of the Housing Authority of <br />the City of Santa Ana is hereby authorized to execute on <br />behalf of said Housing Authority a substitute promissory <br />note in favor of United California Bank in the amount of One <br />Hundred Thousand Dollars ($100,000.00), dated December 3, <br />1979. <br /> <br />. <br /> <br />copy of <br />October <br /> <br />3. That the Executive Director shall deliver a <br />this resolution cancelling the promissory note dated <br />1, 1979, to UCB as notice of said cancellation. <br /> <br />ADOPTED, this <br />by the following vote: <br /> <br />, day of <br /> <br />, 1979, <br /> <br />AYES: <br /> <br />MEMBERS: <br /> <br />NOES: <br /> <br />MEMBERS: <br /> <br />ABSENT: <br /> <br />MEMBERS: <br /> <br />CHAIRMAN <br /> <br />ATTEST: <br /> <br />. <br /> <br />SECRETARY <br /> <br />APP:Z¡ TO FORM: <br /> <br />~TH :. ~ Coun,,' <br /> <br />58 <br />