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<br />. <br /> <br />. <br /> <br />-8 <br /> <br />.. <br /> <br />REL:adg <br />6/14/84 <br /> <br />RESOLUTION NO. 84- 12 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA TO AMEND THE <br />DEFINITIONS OF "BOND YEAR" AND "ASSET COVERAGE <br />TEST" IN RESOLUTION NO. 80-75, PERTAINING TO <br />RESIDENTIAL MORTGAGE REVENUE BONDS ISSUED BY <br />THE AGENCY <br /> <br />WHEREAS, by its Resolution No. 80-75, adopted July I, <br />1980, this Agency authorized the issuance of Residential Mortgage <br />Revenue Bonds for the purpose of purchasing mortgage loans to <br />provide financing for a residential construction project; and <br /> <br />WHEREAS, said bonds have since been issued as the <br />Residential Mortgage Revenues Bonds of the City of Santa Ana, <br />Issue of 1980 Series A; and <br /> <br />WHEREAS, although said Resolution No. 80-75 defines <br />the term "bond year" as commencing on June 2 of each year and <br />ending on June I of the following year, all schedules refer to <br />the bond year as commencing on July I of each year and ending <br />on June 30 of the following year; and <br /> <br />WHEREAS, the said Resolution No. 80-75 defines the <br />term "asset coverage test" to provide for a minimum reserve of <br />$230,000, the official bond indenture defines "asset coverage <br />test" to provide for a minimum reserve of $300,000; and <br /> <br />WHEREAS, the Agency now desires to amend its author- <br />izing resolution to conform its definitions of "bond year' and <br />"asset coverage test" to the schedules and indenture; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY RE- <br />DEVELOPMENT AGENCY OF THE CITY OF SANTA ANA the Resolution <br />No. 80-75 of said Agency is hereby amended as follows: <br /> <br />~:L <br /> <br />SA <br />