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<br />.' <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />'. .". , <br /> <br />NOW, THEREFORE, be it resolved by the Housing Authority of the City of Santa Ana as follows: <br /> <br />2. <br /> <br />3, <br /> <br />4, <br /> <br />5, <br /> <br />6, <br /> <br />9. <br /> <br />1. <br /> <br />The Authority hereby declares its present intention to issue the Bond pursuant to the <br />procedures specified in the Law in an aggregate principal amount not to exceed $25,000,000 <br />for the purposes of providing financing for the acquisition and rehabilitation of the Project. <br /> <br />The issuance and sale of the Bonds shall be upon such tenns and conditions as may be <br />mutually agreed upon by the Authority, the Developer and the purchaser of said Bonds, and <br />shall be authorized by resolution of the Authority at a meeting duly held and conducted for <br />such purposes, <br /> <br />The proceeds of the Bonds shall include such related and necessary issuance expenses, <br />administrative costs and debt service reserves as may be required to accomplish successfully <br />the financing, <br /> <br />The Authority declares the issuance of the Bonds to be an emergency matter within the <br />meaning of Section 34292 of the California Health and Safety Code, <br /> <br />The Authority hereby finds that the issuance of the Bonds is a substantial inducement to the <br />Developer to acquire and rehabilitate the Project. <br /> <br />The Developer shall be responsible for the payment of all present and future costs in <br />connection with the issuance of the Bonds, including, but not limited to, any fees and <br />expenses incurred by the Authority in anticipation ofthe issuance of the Bonds, the costs of <br />printing an official statement, rating agency costs, bond counsel fees and expenses, financial <br />advisor fees and expenses, underwriting discount and costs, trustee fees and expenses, and the <br />cost of printing the Bonds, <br /> <br />7, <br /> <br />The payment of the principal, redemption premium, if any, and purchase price of and interest <br />on the Bonds shall be the sole responsibility of the Developer. <br /> <br />8, <br /> <br />The Executive Director and the appropriate officers or staff of the Authority are hereby <br />authorized, for and in the name of and on behalf of the Authority, to make an application to <br />the California Debt Limit Allocation Committee for an allocation of private activity bonds for <br />the project and to execute and deliver an appropriate agreement with the Developer with <br />respect to any deposit required in connection therewith, <br /> <br />The Authority hereby declares its official intent to use proceeds of Bonds to reimburse the <br />Reimbursement Expenditures. <br /> <br />10, <br /> <br />This Resolution shall take effect immediately, <br /> <br />02/25/00 8:09 AM <br />