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<br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />r <br /> <br />.' <br /> <br />RESOLUTION NO. 86-46 <br /> <br />A RESOLUTION OF.~HE.CO~UNITY REDEVELOP- <br />MENT AGENCY OF 'THE 'CITY OF SANTA ANA <br />APPROVING LEASE-PURCHASE, TRUST, ASSIGN- <br />MENT AND LOAN AGREEMENTS, PRELIMINARY AND <br />FINAL OFFICIAL STATEMENTS AND CONTRACT OF <br />PURCHASE PERTAINING TO THE SANTA ANA <br />DOWNTOWN PARKING FACILITIES PROJECT, AND <br />AUTHORIZING EXECUTION THEREOF <br /> <br />WHEREAS, the City of Santa Ana (the "City") wishes to <br />acquire and construct the City of Santa Ana Downtown Parking <br />Facilities Project (the "Project") on real property owned by <br />the Agency, which Project will benefit the Santa Ana <br />Redevelopment Project Area; and <br /> <br />WHEREAS, the Community Redevelopment Agency of the City <br />of Santa Ana (the "Agency") has agreed to cause the Project <br />to be acquired and constructed and to lease the Project to <br />the City pursuant to the Lease-Purchase Agreement, dated as <br />of July 1, 1986; and <br /> <br />WHEREAS, in order to permit the financing of the <br />Project, the Ci ty and the Agency will enter into a Trust <br />Agreement, dated as of July 1, 1986, with First Interstate <br />Bank of California, Los Angeles, California, as Trustee, <br />whereby the Trustee will deliver Certificates of <br />participation in the lease payments paid by the City pursuant <br />to the Lease-Purchase Agreement, which Certificates in turn, <br />will be purchased by Shearson Lehman Bros. Inc. and Grigsby, <br />Brandford and Co., Inc. for reoffering to the public; and <br /> <br />WHEREAS, the Agency has agreed to assign and transfer to <br />the Trustee, for the benefit of the Owners of the <br />Certificates, all of its rights under the Lease-Purchase <br />Agreement, including its right to receive lease payments from <br />the City under the Lease-Purchase Agreement, its right to <br />receive proceeds of condemnation of, and insurance on, the <br />Project, and its right to enforce payment of Lease Payments <br />when due in the event of a default by the City, all pursuant <br />to an Assignment Agreement, dated as of July 1, 1986; and <br /> <br />WHEREAS, the Agency intends to cause funds to be <br />provided for the acquisition and construction of the Project <br />and the City intends to initially finance such acquisition <br />and construction by leasing the Project from the Agency <br />pursuant to the Lease-Purchase Agreement; and <br />