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<br />the Program as contemplated by this resolution and the documents referred to herein exist,
<br />have happened and have been performed in due time, form and manner as required by the
<br />laws of the State of Califomia, including the Act,
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<br />WHEREAS, the Authority has determined, pursuant to Section 34292 of the Health and
<br />Safety Code of the State of California (the "Housing Authorities Law") that the issuance and
<br />delivery of the bonds and the execution and delivery of related documents, and the adoption of
<br />this resolution is an "emergency matter" within the meaning of the Housing Authorities Law
<br />without benefit of the review by or recommendations of the Redevelopment and Housing
<br />Commission,
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<br />Section 1. Pursuant to the Act and the Indenture (hereinafter defined), revenue bonds
<br />of the Authority, designated as "Housing Authority of the City of Santa Ana Multifamily Housing
<br />Revenue Bonds (Cornerstone Village Apartments) 2001 Series B" in an aggregate principal
<br />amount not to exceed $7,500,000 (the "Bonds"), are hereby authorized to be remarketed, The
<br />remarketed Bonds shall be executed by the manual or facsimile signature of the Chairperson,
<br />Vice Chairperson, Executive Director or Treasurer of the Authority, and attested by the manual
<br />or facsimile signature of the Secretary, or any deputy thereof, in the form set forth in and
<br />otherwise in accordance with the Indenture (as hereinafter defined).
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<br />Section 2. An Amended and Restated Trust Indenture (the "Indenture") between the
<br />Authority and Wells Fargo Bank, National Association, as trustee (the "Trustee"), in the form
<br />presented to 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 and in the
<br />name and on behalf of the Authority, to execute and deliver the Indenture, and the Secretary or
<br />any authorized deputy thereof is hereby authorized, for and in the name and on behalf of the
<br />Authority, to attest the Designated Officer's signature on the Indenture, in substantially said
<br />form, with such additions thereto or changes therein as are recommended or approved by the
<br />Executive Director upon consultation with bond counsel to the Authority, including such
<br />additions or changes as are necessary or advisable in accordance with Section 9 hereof, and
<br />which may be required in connection with providing alternate security for the payment of the
<br />principal of and 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 $7,500,000, the approval of
<br />such additions or changes to be conclusively evidenced by the execution and delivery by the
<br />Authority of the Indenture. The date, maturity dates, interest rate or rates, interest payment
<br />dates, denominations, form, registration provisions, manner of execution, place of payment,
<br />terms of redemption, and other terms of the Bonds shall be as provided in the Indenture as
<br />finally executed,
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<br />Section 3. An Amended and Restated Financing Agreement with respect to the
<br />Mortgage Loan (the "Financing Agreement") among the Trustee, the Authority and the
<br />Borrower, in the form presented to this meeting, is hereby approved, The Designated Officers
<br />of the Authority are, and each of them acting alone is, hereby authorized, for and in the name
<br />and on behalf of the Authority, to execute and deliver the Financing Agreement in said form,
<br />with such additions thereto or changes therein as are recommended or approved by such
<br />officers upon consultation with bond counsel to the Authority including such additions or
<br />changes as are necessary or advisable in accordance with Section 9 hereof, the approval of
<br />such additions or changes to be conclusively evidenced by the execution and delivery by the
<br />Authority of the Financing Agreement.
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