1985-56 CRA - Laserfiche WebLink

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. . . . . constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. Neither the members of the Agency nor any persons executing this Bond are liable personally on this Bond by reason of its issuance. This Bond is one of a duly authorized issue of Bonds of the Agency designated "City of Santa Ana Community Redevelopment Agency, Santa Ana South Main Street Redevelopment Project, Tax Allocation Bonds, 1985 Series D" (herein called the "Bonds"), in an aggregate principal amount of $13,000,000, all of like tenor (except for bond numbers and amounts) and all of which have been issued pursuant to and in full conformity with the Constitution and laws of the State of California and particularly the Community Redevelopment Law (Part 1 of Division 24 of the Health and Safety Code of the State of California) for the purpose of aiding in the financing of the Redevelopment Project referred to above and are authorized by and issued pursuant to Resolution No. 85-56, adopted by the Agency on December 3, 1985 (the Resolution being herein referred to as the "Resolution"). Copies of the Resolution are on file with the Secretary of the Agency and the Fiscal Agent. All of the Bonds are equally secured in accordance with the terms of the Resolution, reference to which is hereby made for a specific description of the security provided for the Bonds, for the nature, extent and manner of enforcement of such security, for the covenants and agreements made for the benefit of the Bondowners, and for a statement of the rights of the Bondowners. By the acceptance of this Bond the registered owner hereof consents to all of the terms, conditions and provisions of the Resolution. In the manner provided in the Resolution, the Resolution and the rights and obligations of the Agency and of the Bondowners may (with certain exceptions as stated in the Resolution) be modified or amended with the consent of the Owners of fifty percent (50%) in aggregate principal amount of outstanding Bonds, exclusive of issuer-owned Bonds, unless the modification or amendment is for the purpose of curing ambiguities, defects, or accomplishing the other purposes set forth in the Resolution in which case no Bondowners' consent is required. The principal of this Bond and the interest on it are secured by an irrevocable pledge of, and are payable solely out of, the Tax Revenues (as that term is defined in the Resolution) and certain other funds, all as more particularly set forth in the Resolution, including, in the event of default, the draws upon a certain letter of credit issued by Swiss Bank Corporation referred to in the Resolution (the "Initial Letter of Credit"). The Resolution is adopted under and this Bond is issued under and is to be construed in accordance with the laws of the State of California. 12-02-85 9564p/2281/01 A-2