Laserfiche WebLink
<br />8 <br /> <br />8 <br /> <br />8 <br /> <br />WHEREAS, the Authority has determined, pursuant to Section 34292 of <br />the Health and Safety Code of the State of California (the "Housing Authorities Law") <br />that the issuance and delivery of the bonds and the execution and delivery of related <br />documents, and the adoption of this resolution is an "emergency matter" within the <br />meaning of the Housing Authorities Law without benefit of the review by or <br />recommendations of the Redevelopment and Housing Commission. <br /> <br />WHEREAS, the Authority hereby finds and declares that this resolution is being <br />adopted pursuant to the powers granted by the Act; and <br /> <br />WHEREAS, all conditions, things and acts required to exist, to have happened <br />and to have been performed precedent to and in the issuance of the Bonds and the <br />implementation of the Program as contemplated by this resolution and the documents <br />referred to herein exist, have happened and have been performed in due time, form <br />and manner as required by the laws of the State of California, including the Act. <br /> <br />Section 1. Pursuant to the Act and the Indenture (hereinafter defined), revenue <br />bonds of the Authority, designated as "Housing Authority of the City of Santa Ana <br />Multifamily Housing Revenue Bonds (Cornerstone Village Apartments) 2001 Series B" <br />in an aggregate principal amount not to exceed $8,155,000 (the "Bonds"), are hereby <br />authorized to be issued, The Bonds shall be executed by the manual or facsimile <br />signature of the Chairperson, Vice Chairperson, Executive Director or Treasurer of the <br />Authority, and attested by the manual or facsimile signature of the Secretary, or any <br />deputy thereof, in the form set forth in and otherwise in accordance with the Indenture <br />(as hereinafter defined). <br /> <br />Section 2. A Trust Indenture (the "Indenture") between the Authority and Wells <br />Fargo Bank, National Association, as trustee (the "Trustee"), in the form presented to <br />this meeting, is hereby approved, The Chairperson, Vice Chairperson, Executive <br />Director and Treasurer of the Authority, or any authorized deputy of any of them (the <br />"Designated Officers") are, and each of them acting alone is, hereby authorized, for <br />and in the name and on behalf of the Authority, to execute and deliver the Indenture, <br />and the Secretary or any authorized deputy thereof is hereby authorized, for and in the <br />name and on behalf of the Authority, to attest the Designated Officer's signature on the <br />Indenture, in substantially said form, with such additions thereto or changes therein as <br />are recommended or approved by the Executive Director upon consultation with bond <br />counsel to the Authority, including such additions or changes as are necessary or <br />advisable in accordance with Section 9 hereof, and which may be required in <br />connection with providing alternate security for the payment of the principal of and <br />interest on a portion of the Bonds, (provided that no additions or changes shall <br />authorize an aggregate principal amount of Bonds in excess of $8,155,000, the <br />approval of such additions or changes to be conclusively evidenced by the execution <br />and delivery by the Authority of the Indenture. The date, maturity dates, interest rate or <br />rates, interest payment dates, denominations, form, registration provisions, manner of <br />execution, place of payment, terms of redemption, and other terms of the Bonds shall <br />be as provided in the Indenture as finally executed. <br /> <br />2 <br />