1985-28 HA - Laserfiche WebLink

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. . . . . . . Page 2 Resolution No. 85-28 lU'l, 'lHEREFœE, BE IT RE8)LVEI) by the fblsing Authority of the City of Santa Ana as follows: Section 1. F~ am I)e(']coratials. '!he Authority hereby finds am declares that the g of the Projict fran the proceeds of the Balds as herein described serves the public pnpcses of assisting persa1B am families of low am JOOderate inc:x:me within the City of Santa Ana to afford the ooøts of decent, safe am sanitary housing, am that it is not: feasible to reserve any units in the Project at a priority basis far persau¡ or famiies Wose i.noane does not: exceed SOl of the median adjusted gross incaœ. '!he Authority further hereby fims am declares that this reøolu- tial is aà:>pt:ed pn-suant to the ~ granted by the BJusing Authorities Law, incllñing particularly Section 34312.3 of the Health am Safety Code of the State of Cùifornia. Sectiat 2. Issuance am Sale of Balds. '!he Authority hereby authorizes the issuance of the Ba'lds pn-suant to and in acoordance with the terms am provisiŒ1S of the Irñenture, all of ~ch terms am provisiŒ18 are incor- porated herein by reference. 'DIe Bends are hereby authorizied to be sold to the Purchaser pn-suant to am in acooràance with the terms of the agree- ment (the "Bend Purchase Þ.qreeII.ellL") by am between the Authority am the Purchaser, in substantially the form at file with the Secretary. '!he Chairmm or Vice 01airman is hereby authorized am directed to execute am the Secretary is hereby authorized to attest the Bend Purchase J\o;;¡¡_..ehL far am in the name am at behalf of the Authority. Sectiat 3. Indenture. '!he Indenture, in substantially the form presented to the Authority at this meeting, together with any additiŒ1S thereto or changes therein deemed necessary or advisable by the Executive Director upcn the advice of barJd counsel to the Authority, is hereby a¡:proved. 'DIe 0IIIirman or Vice 0IIIirman is hereby authorized am directed to execute am the Secretary is hereby authorized to attest the Indenture for am in the name am at behalf of the Authority. Section 4. Loan Agreement. 'DIe Loan Agreement, in substantially the form presented to the Authority at this meeting, together with any additioos thereto or changes therein deemed necessary or advisable by the Executive Director upcn the advice of barJdcouœel to the Authority, is hereby a¡:proved. '!he 01airman or Vice 01airman is hereby authorized am directed to execute and the Secretary is hereby authorized to attest the Loan J\greeII.eI~L far am in the name am at behalf of the Authority.