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<br />" <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />: <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 85-24 <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA RELATING TO THE ISSUANCE <br />OF BONDS FOR THE PURPOSE OF FINANCING THE ACQUISITION <br />AND CONSTRUCTION OF VARIOUS MULTI-FAMILY RESIDENTIAL <br />RENTAL PROJECTS AND RELATED FACILITIES <br /> <br />WHEREAS, the Housing Authority of the City of Santa <br />Ana (the "Authority") is authorized to issue bonds pursuant <br />to the provisions of California Health and Safety Code, <br />Division 24, Part 2, Chapter 1 and, in particular, Section <br />34312.3 of said Code (the "Law") for the purpose of providing <br />financing for the acquisition, construction and development <br />of multi-family residential rental projects located within <br />the Authority; <br /> <br />WHEREAS, the various property owners and/or developers <br />listed in Exhibit A hereto (collectively, the "Developers") <br />have requested the Authority to issue and sell its revenue <br />bonds pursuant to the procedures specified in the Law for <br />the purpose of financing the acquisition and construction of <br />certain land and facilitie~ consisting of multi-family <br />residential rental project~ and underlying land and related <br />and appurtenant facilitie~ located at the respective addresses <br />set forth in Exhibit A (cbllectively, the "Projects") to be <br />acquired and constructed by the Developers within the Authority, <br />and the Authority wishes to induce the Developers to acquire, <br />construct and develop the Projects within the AuthoritY1 and <br /> <br />WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the <br />Authority that the Authority authorize the Bonds for the <br />aforesaid purposes1 <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Housing Authority <br />of the City of Santa Ana, as follows: <br /> <br />1. The Authority hereby authorizes the issuance and <br />sale of the Bonds pursuant to the procedures specified in <br />the Law in and aggregate principal amount not to exceed <br />$34,000,000.00 for the purpose of providing financing for <br />the acquisition, construction and improvement of the Projects <br />as set forth in Exhibit A. Such authorization shall be for <br />the purpose of inducing the Developers to undertake the <br />Projects and, in particular, to do so at the aforesaid <br />respective locations. <br />