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<br />. <br />, <br /> <br />,.' <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 86-6 <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 A MULTI-FAMILY RESIDENTIAL <br />RENTAL PROJECT AND RELATED FACILITIES <br /> <br />WHEREAS, the Housinq Authority of the city of Santa Ana <br />(the "Authority") is authorized to issue bonds pursuant to the <br />provisions of California Health and Safety Code, Division 24, <br />Part 2 Chapter 1 and, in particular, Section 34312.3 of said <br />Code (the "Law") for the purpose of providinq financinq for the <br />acquisition, construction and development of multi-family <br />residential rental projects located within the Authority <br />jurisdiction: <br /> <br />WHEREAS, the property owner and/or developer listed in <br />Exhibit A hereto (the "Developer") has requested the Authority <br />to issue and sell its revenue bonds pursuant to the procedures <br />specified in the Law for the purpose of financinq the <br />acquisition and construction of certain land and facilities <br />consistinq of a mUlti-family residential rental project and <br />underlyinq land and related and appurtenant facilities located <br />at the address set forth in Exhibit A (the "Project") to be <br />acquired and constructed by the Developer within the Authoritys' <br />jurisdiction, and the Authority wishes to induce the Developer <br />to acquire, construct and develop the Projects within the <br />Authority.' jurisdiction: 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 purpose: <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Housinq Authority <br />of the City of Santa Ana, as follows: <br /> <br />1. The Authority hereby authorized the issuance and <br />sale of the Bonds pursuant to the procedures specified in the <br />Law in and aqqreqate principal amount not to exceed <br />$6,000,000.00 for the purposes ofprovidinq financinq for the <br />acquisition, construction and improvement of the Projects .s set <br />forth in Exhibit A. Such authorization shall be for the purpose <br />of inducinq the Developer to undertake the Projects and, in <br />particular, to do so at the aforesaid respective location. <br /> <br />2. The issuance and sale of the Bonds shall be upon <br />such terms and conditions as may be mutually aqreed upon by the <br />Authority, the Developers and the purchase of said Bonds and <br />shall be authorized by resolution of the Authority at a meetinq <br />duly held and conducted for such purpose. <br />