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<br />. <br /> <br />RESOLUTION NO. 95-09 <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF <br />SANTA ANA AUTHORIZING THE ISSUANCE, SALE AND DELIVERY <br />OF VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE <br />REFUNDING BONDS FOR THE HARBOR POINTE APARTMENTS, APPROVING <br />THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS AND <br />APPROVING ACTION IN CONNECTION THEREWITH <br /> <br />WHEREAS, Article 11 of Chapter 3 of Part 1 of Division 2 of <br />Title 5 of the Government Code of the state of California <br />(the"Act") authorizes a local agency to incur indebtedness for <br />the purpose of refunding outstanding bonds of the local agency, <br />and the Act provides a complete, additional and alternative <br />method for such refunding¡ <br /> <br />WHEREAS, the Housing Authority of the city of Santa Ana (the <br />"Authority") has heretofore issued its $6,100,000 Multifamily <br />Housing Revenue Bonds, (Mercury savings and Loan <br />Association/Harbor pointe Apartments Project) 1985 Series C (the <br />IIprior Bonds") to finance the acquisition and construction of a <br />multifamily rental housing project known as Harbor pointe <br />Apartments located at 1500 North Harbor Boulevard in the city of <br />Santa Ana, California (the Multifamily Facilities"); <br /> <br />. <br /> <br />WHEREAS, Harbor pointe Apartments, a California general <br />partnership (the IIBorrower") is the current owner of the <br />multifamily facilities, and has requested that the Authority <br />issue and sell the Bonds (hereinafter defined) for the purpose of <br />refunding the Prior Bonds and thereby refinancing the multifamily <br />facilities¡ and <br /> <br />WHEREAS, all conditions, things and acts required to exist, <br />to have happened and to have been perforrned under the Act <br />precedent to and in the issuance of the Bonds, the refunding of <br />the Prior Bonds and the refinancing of the multifamily facilities <br />as contemplated by this resolution and the documents referred to <br />herein exist, have happened and have been performed in due time, <br />form and manner as required by the laws of the State of <br />California, including the Act, and the Authority now desires to <br />approve the issuance of the Bonds and related documents and <br />actions as set forth below. <br /> <br />NOW, THEREFORE, the Governing Board of the Housing Authority <br />of the city of Santa Ana resolves as follows: <br /> <br />section 1. The Authority finds and declares that the above <br />recitals are true and correct. <br /> <br />. <br /> <br />section 2. Pursuant to the Act and the Indenture <br />(hereinafter defined), revenue bonds of the Authority, designated <br />as "Housing Authority of the city of Santa Ana Variable Rate <br />Demand Multifamily Housing Revenue Refunding Bonds, 1995 Series A <br />