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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />bonds the proceeds <br />of the Developers, <br />health and welfare <br />and <br /> <br />of which will be used to make a loan <br />and which loan will serve the public <br />of the citizens of the State and the <br /> <br />to each <br />safety, <br />city; <br /> <br />WHEREAS, all acts, conditions and things required by the <br />Act, to exist, to have happened and to have been performed <br />precedent to and in connection with the issuance of the <br />aforesaid revenue bonds exist, have happened, and have been <br />performed in regular and due time, form and manner as required <br />by law, and the Authority is now duly authorized and empowered, <br />pursuant to each and every requirement of law, to issue such <br />revenue bonds for the purpose, in the manner and upon the terms <br />herein provided; and <br /> <br />WHEREAS, said revenue bonds are to be issued hereunder in <br />the approximate principal amount of $2,800,000 and are to be <br />designated as the "City of Santa Ana Housing Authority <br />Multi-Family Housing Revenue Bonds (Fannie Mae Program), 1985 <br />Series A." <br /> <br />NOW, THEREFORE, THE CITY OF SANTA ANA HOUSING <br />AUTHORITY DOES HEREBY RESOLVE, DETERMINE AND FIND AS FOLLOWS: <br /> <br />SECTION l. <br />true and correct. <br /> <br />The above recitals, and each of them, are <br /> <br />SECTION 2. The Authority has adopted and hereby <br />confirms the Program for the use and purpose of increasing the <br />multi-family rental housing supply in the City. <br /> <br />SECTION 3. The proposed form of the Regulatory <br />Agreement presented at this meeting is hereby approved. The <br />Chairman and Secretary of the Authority are hereby authorized <br />and directed, for and in the name of the Authority, to execute <br />the Regulatory Agreement with the Developer. Said agreement <br />shall be executed in substantially the form hereby approved, <br />with such additions thereto and changes therein as are approved <br />by such officers, such approval to be conclusively evidenced by <br />the execution and delivery thereof. <br /> <br />SECTION 4. The proposed form of the Financing Agreement <br />presented at this meeting for each issue is hereby approved. <br />The Chairman and Secretary are hereby authorized and directed, <br />for and in the name of the Authority, to execute the Financing <br />Agreement among the Authority, The Bank of California, N.A. <br />(the"Lender") and the Trustee appointed pursuant to Section 7 <br />hereof. <br /> <br />06-05-85 <br />5735p//2l05/05 <br /> <br />-2- <br />