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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. <br /> <br />85-38 <br /> <br />RESOLUTION OF THE CITY OF SANTA ANA <br />COMMUNITY REDEVELOPMENT AGENCY PROVIDING FOR <br />THE SALE OF TAX ALLOCATION BONDS IN THE <br />APPROXIMATE PRINCIPAL AMOUNT OF SEVENTY <br />MILLION DOLLARS ($70,000,000) FOR THE SANTA <br />ANA COMMUNITY REDEVELOPMENT PROJECT AREA, <br />APPROVING THE FORM OF NOTICE OF INTENTION TO <br />SELL SAID BONDS AND DIRECTING THE <br />PUBLICATION THEREOF <br /> <br />WHEREAS, the City of Santa Ana Community Redevelopment <br />Agency (herein sometimes referred to as the "Agency"), is a <br />redevelopment agency (a public body, corporate and politic) <br />duly created, established and authorized to transact business <br />and exercise its powers, all under and pursuant to the <br />Community Redevelopment Law (Part 1 of Division 24 (commencing <br />with Section 33000) of the Health and Safety Code of the State <br />of California) and the powers of the Agency include the power <br />to issue bonds for any of its corporate purposes¡ and <br /> <br />WHEREAS, the Agency wishes to sell at this time not more <br />than $70,000,000 of the aggregate principal amount of the Tax <br />Allocation Bonds to provide financing in connection with the <br />Santa Ana Community Redevelopment Project Area¡ and <br /> <br />WHEREAS, the Agency is required by law to sell the Bonds at <br />competitive bid following publication of notice of intention to <br />sell such securities. <br /> <br />NOW, THEREFORE, THE CITY OF SANTA ANA COMMUNITY <br />REDEVELOPMENT AGENCY DOES HEREBY RESOLVE, DETERMINE AND ORDER <br />AS FOLLOWS: <br /> <br />Section 1. Sale Authorized. The sale of an aggregate <br />principal amount of Seventy Million Dollars ($70,000,000) (or <br />such lesser amount as may be specified in the notice of sale as <br />approved by the Executive Director) of the CITY OF SANTA ANA <br />COMMUNITY REDEVELOPMENT AGENCY, SANTA ANA COMMUNITY <br />REDEVELOPMENT PROJECT AREA TAX ALLOCATION BONDS, 1985 (herein <br />sometimes referred to as the "Bonds"), in accordance with law, <br />is hereby authorized. <br /> <br />section 2. Publication of Notice of Intention to Sell <br />Securities. The Notice of Intention to Sell Securities <br />attached hereto as Exhibit "A" is hereby approved subject to <br />such changes as requested by Bond Counsel. The Secretary of <br />the Agency shall cause said Notice of Intention to Sell <br />Securities (a) to be published in a newspaper published and of <br />general circulation in the City of Santa Ana, California, by <br />