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.- , . . . . . ~~~~ RESOLUTION NO. 86-32 RESOLUTION OF THE CITY OF SANTA ANA COMMUNITY REDEVELOPMENT AGENCY AMENDING RESOLUTION NO. 85-56 AND CALLING A MEETING OF BONDHOLDERS FOR THE PURPOSE OF APPROVING SUCH AMENDMENT WHEREAS, the City of Santa Ana Community Redevelopment Agency (the "Agency") has previously issued $13,000,000 principal amount of its Tax Allocation Bonds (the "Bonds") pursuant to Resolution No. 85-56 (the "Resolution); WHEREAS, the Agency is considering the issuance of refunding bonds in order to fix the interest rate on the Bonds through maturity; WHEREAS, the Resolution does not provide for a redemption of Bonds prior to the Initial Reset Date; and WHEREAS, to complete the refunding of the Bonds it is necessary to amend the Resolution to establish a redemption date on the Initial Reset Date which amendment requires the consent of 50% of the Bondholders. NOW, THEREFORE, THE CITY OF SANTA ANA COMMUNITY REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Section l1A of the Resolution is hereby amended by adding subsection (8) to read as follows: "(8) The Term Bonds and Special Term Bonds are subject to redemption as a whole on December 15,1990 from the proceeds of refunding bonds and any investment earnings thereon. " Section 2, A meeting of Bondholders is hereby called pursuant to Section 23A of the Resolution. Such meeting shall be held in the City Council Chambers, 20 civic Center Plaza, Santa Ana, California 92702 at 10:00 A.M. on August 28, 1986 for the purpose of considering the amendment to the Resolution set forth in Section 1 hereof. Section 3. The Executive Director and Secretary are hereby authorized and directed to give notice of such meeting to the Bondholders in accordance with the provisions of section 23B of the Resolution and to take such other actions as Bond Counsel and Financial Consultant advise are necessary to obtain the consent of Bondholders.