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<br />. <br /> <br />. <br /> <br />. <br /> <br />10 <br /> <br />MINUTES <br />JOINT MEETING WITH <br />CITY COUNCIL AND <br />COMMUNITY REDEVELOPMENT AGENCY <br />SANTA ANA, CALIFORNIA <br />MAY 26,1981 5:30 P.M. <br /> <br />The Joint Meeting of the City Council and Community <br />Redevelopment Agency of the City of Santa Ana was called to <br />order by Chairman Bricken at 5:35 P.M., in the City Council <br />Chambers, 22 Civic Center Plaza, Santa Ana, California. <br />After the Pledge to the Flag and the Invocation given by <br />Chairman Bricken, roll was called: <br /> <br />PRESENT <br /> <br />ABSENT <br /> <br />Daniel Griset <br />Gordon Br icken <br />Al Serrato <br />Robert Luxembourger <br />John Acosta <br />Patricia McGuigan <br />J. Ogden Markel <br /> <br />Others in Attendance: <br /> <br />A. J. Wilson, City Manager <br />Rex Swanson, Executive Director <br />Edward J, Cooper, City Attorney <br />David N. Ream, Community Development Director <br />Pamela Wiget, Miller and Schroeder Municipals <br />Terry McCarty, Stone & Youngberg <br />Andrew C, Hall, Jr., Jones, Hall, Hill & White <br /> <br />RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE 1981, SERIES A- <br />TOWN SQUARE CONDOMINIUMS <br /> <br />Chairman Bricken asked Staff if they had any additional <br />remarks on this item. Rex Swanson stated that this <br />financing for Phase II contained two actions. He introduced <br />Pamela Wiget of Miller and Schroeder who gave a brief <br />presentation. <br /> <br />Ms. Wiget stated that the Phase Two construction, consisting <br />of an additional 159 units, is well underway. City Council <br />and Agency approval of the recommended resolutions will <br />authorize the sale of $15,730,000 in Mortgage Revenue Bonds <br />for the second phase financing. Miller and Schroeder has <br />informed staff that the bonds have been marketed at 11,5 <br />percent interest, which the developer agrees is an <br />