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<br />. <br /> <br />. <br /> <br />. <br /> <br />ø <br /> <br />RESOLUTION NO. 85-55 <br /> <br />RESOLUTION OF THE CITY OF SANTA ANA COMMUNITY <br />REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE <br />OF TAX ALLOCATION BONDS OF SAID AGENCY IN THE <br />PRINCIPAL AMOUNT OF THIRTEEN MILLION SIX <br />HUNDRED FIFTY THOUSAND DOLLARS ($13,650,000) TO <br />FINANCE A PORTION OF THE COST OF A <br />REDEVELOPMENT PROJECT KNOWN AS THE SANTA ANA <br />SOUTH HARBOR BOULEVARD/FAIRVIEW STREET <br />REDEVELOPMENT PROJECT <br /> <br />WHEREAS, the City of Santa Ana Community Redevelopment <br />Agency (the "Agency"), is a redevelopment agency (a public <br />body, corporate and politic) duly created, established and <br />authorized to transact business and exercise its powers, all <br />under and pursuant to the Community Redevelopment Law (Part 1 <br />of Division 24 commencing with Section 33000, of the Health and <br />Safety Code of the State of California), and the powers of the <br />Agency include the power to issue bonds for any of its <br />corporate purposes; and <br /> <br />WHEREAS, the redevelopment plan (the "Redevelopment <br />Plan") for a redevelopment project known and designated as the <br />"Santa Ana South Harbor Boulevard/Fairview Street Redevelopment <br />Project" has been adopted and approved by Ordinance No. 1638 of <br />the City of Santa Ana, which became effective on July 6, 1982, <br />and all requirements of law for and precedent to the adoption <br />and approval of the Redevelopment Plan have been duly complied <br />with; and <br /> <br />WHEREAS, the corporate purposes of the Agency will be <br />accomplished by adopting this Resolution of the Agency in order <br />to issue tax allocation bonds in a principal amount of Thirteen <br />Million Six Hundred Fifty Thousand Dollars ($13,650,000) <br />pursuant to this Resolution providing for the issuance of "City <br />of Santa Ana Community Redevelopment Agency, Santa Ana South <br />Harbor Boulevard/Fairview Street Redevelopment Project Tax <br />Allocation Bonds 1985 Series C" (the "Bonds"), the proceeds of <br />which will be used to finance a portion of the cost of the <br />Santa Ana South Harbor Boulevard/Fairview Street Redevelopment <br />Project, to fund a debt service reserve fund and to pay costs <br />of issuing the Bonds, with the balance to be set apart and <br />irrevocably segregated in a special trust fund which will be <br />used to finance a portion of the costs of implementing the <br />Redevelopment Plan; <br /> <br />NOW, THEREFORE, THE CITY OF SANTA ANA COMMUNITY <br />REDEVELOPMENT AGENCY DOES HEREBY RESOLVE, DETERMINE AND ORDER <br />AS FOLLOWS: <br />