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. . . " . . RESOLUTION 97-05 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF MULTIFAMILY HOUSING REVENUE REFUNDING BONDS (HENINGER VILLAGE SENIOR APARTMENTS) 1997 ISSUE A, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST, LOAN AGREEMENT, AMENDED AND RESTATED REGULATORY AGREEMENT, SUPPLEMENTAL AGREEMENT AND AUTHORIZING THE EXECUTION AND DELIVERY OF AND APPROVING OTHER RELATED DOCUMENTS AND APPROVING OTHER RELATED ACTIONS IN CONNECTION THEREWITH WHEREAS, Article 11 of Chapter 3 of part 1 of Division 2 of Title 5 of the Government Code of the State of California, commencing with section 53580 (the "Act") authorizes local agencies to incur indebtedness for the purpose of refunding any revenue bonds of the local agency, and the Act provides a complete, additional and alternative method for such financing; WHEREAS, the Housing Authority of the City of Santa Ana (the "Authority") hereby finds and declares that it is necessary, essential and a public purpose for the Authority to engage in a prograrn (the "prograrn") of refunding certain revenue bonds of the Authority issued to finance the construction and development of multifamily rental housing (the "1987 Bonds"), and has determined to borrow rnoney for such purpose by the issuance of revenue refunding bonds as authorized by the Act; WHEREAS, resolution is Act; the Authority hereby finds and declares that this being adopted pursuant to the powers granted by the WHEREAS, Sycarnore Retirernent Apartrnents, Ltd., A California Lirnited Partnership, owner of the Project (as hereinafter defined) (the "borrower") has requested that the Authority issue and sell the Bonds (hereinafter defined), the principal of and interest upon which will be secured by payments to be made for the purpose of refunding outstanding revenue bonds of the Authority previously issued to finance the construction and developrnent of a multifarnily rental housing project located in the City of Santa Ana and commonly known as the Heninger Village Senior Apartrnents (formerly knows as Sycamore Apartrnents) (the "Project"; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds and the irnplernentation of the prograrn as conternplated by this resolution and the documents referred to herein exist, have happened and have been perforrned in due time, forrn and manner as required by the laws of the State of California, including the Act.