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<br />~ . <br /> <br />I <br /> <br />~ <br /> <br />I <br /> <br />WHEREAS, the Agency wishes at this time to approve said transactions in <br />the public interests of the Agency; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment Agency of <br />the City of Santa Ana as follows: <br /> <br />Section 1. Sublease of Project; Sublease Aqreement. The Agency hereby <br />approves the sublease of the Project by the Agency from the City pursuant to <br />the Sublease Agreement, in substantially the form on file with the Secretary <br />together with any additions thereto or changes therein deemed necessary or <br />advisable by the Executive Director. The Chairman and Secretary of the <br />Agency are hereby authorized and directed to execute, attest and affix the <br />seal of the Agency to the Sublease Agreement for and in the name and on <br />behalf of the Agency. The Agency hereby authorizes the delivery and <br />performance of the Sublease Agreement. <br /> <br />Section 2. Trust Aqreement. The Agency hereby approves and authorizes <br />the delivery and performance of the Trust Agreement, in substantially the <br />form on file with the Secretary together with any additions thereto or <br />changes therein deemed necessary or advisable by the Executive Director. <br />The Chairman and the Secretary of the Agency are hereby authorized and <br />directed to execute, attest and affix the seal of the Agency to the Trust <br />Agreement for and in the name and on behalf of the Agency. The Agency <br />hereby authorizes the delivery and performance of the Trust Agreement. <br /> <br />Section 3. Sale of Certificates. The Agency hereby authorizes the <br />sale of the Certificates of Participation. The Certificates shall be sold <br />to the Underwriter for the purpose of providing funds to be applied to the <br />financing of the acquisition and construction of the Project. The <br />Certificates shall be sold pursuant to the Contract of Purchase, in <br />substantially the form on file with the Secretary of the Agency, which <br />agreement is hereby approved together with any addttions thereto or changes <br />therein deemed necessary or advisable by the Executive Director. The <br />Executive Director is hereby authorized and directed to execute the Contract <br />of Purchase upon presentation of an offer by the Underwriter to purchase the <br />Certificates which is acceptable to the Executive Director; provided, <br />however, that the purchase price shall be not less than one and one half <br />percent (1.5 %) of the par amount thereof. The Executive Director is <br />hereby delegated the authority to approve the terms of an offer by the <br />Underwriter to purchase the Certificates, provided that such offer is in <br />form and substance acceptable to the Executive Director and is within the <br />limitations set forth in this Section 3. <br /> <br />Section 4. Official Statement. The Agency hereby approves the <br />preliminary Official Statement describing the Certificates, in substantially <br />the form submitted by the Underwriter and on fi 1 e with the Secretary, <br />together with any changes therein or additions thereto deemed advisable by <br />the Executive Director. Distribution of the preliminary Official Statement <br />by the Underwriter is hereby ratified and approved. The Agency hereby <br />authorizes the distribution of the final Official Statement by the <br />Underwriter. The Executive Director is hereby authorized and directed to <br />approve any changes in or additions to a final form of said Official <br />Statement deemed advisable by the Executive Director, and at the request of <br /> <br />-2- <br />