1985-27 HA - Laserfiche WebLink

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. I . . I . . -- -_._..._-~- ,----..--.-----.--------..... . . Page 2 Resolution No. 85-27 NeW, THEREFORE, BE IT RESOLVED by the Housing Authority of the City of Santa Ana as follows: Section 1. Findings and Declarations. The Authority hereby finds and declares that the financing of the Project fran the proceeds of the Bonds as herein described serves the public purposes of assisting persons and families of low and moderate incane within the City of Santa Ana to afford the costs of decent, safe and sanitary housing, and that it is not feasible to reserve any units in the Project on a priority basis for persons or famiies whose incane does not exceed 50% of the median adjusted gross incane. The Authority further hereby finds and declares that this resolu- tion is adopted pursuant to the powers granted by the Housing Authorities, Law, including particularly Section 34312.3 of the Health and Safety Code of the State of California. Section 2. Issuance and Sale of Bonds. The Authority hereby authorizes the issuance of the Bonds pursuant to and in accordance with the tems and provisions of the Indenture, all of which tenns and provisions are incor- porated herein by reference. The Bonds are hereby authorizied to be sold to the Purchaser pursuant to and in accordance with the tems of the agree- ment (the "Bond Purchase Agreement") by and between the Authority and the Purchaser, in substantially the form on file with the Secretary. The Chairman or vice Chairman is hereby authorized and directed to execute and the Secretary is hereby authorized to attest the Bond Purchase Agreement for and in the name and on behalf of the Authority. Section 3. Indenture. The Indenture, in substantially the form presented to the Authority at this meeting, together with any additions thereto or changes therein deemed necessary or advisable by the Executive Director upon the advice of bond counsel to the Authority, is hereby approved. The Chairman or vice Chairman is hereby authorized and directed to execute and the Secretary is hereby authorized to attest the Indenture for and in the name and on behalf of the Authority. Section 4. Loan Agreement. The Loan Agreement, in substantially the form presented to the Authority at this meeting, together with any additions thereto or changes therein deemed necessary or advisable by the Executive Director upon the advice of bond counsel to the Authority, is hereby approved. The Chairman or Vice Chairman is hereby authorized and directed to execute and the Secretary is hereby authorized to attest the Loan Agreement for and in the name and on behalf of the Authority.