Laserfiche WebLink
<br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Resolution No. 87-25 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE EXECUTION OF A LOAN <br />AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA AND THE CITY OF SANTA ANA WHEREBY THE <br />AGENCY BORROWS MONEYS FROM THE CITY TO FINANCE THE COST OF <br />THE BOWERS MUSEUM PROJECT; AND AUTHORIZING THE EXECUTION <br />THEREOF. <br /> <br />BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA: <br /> <br />SECTION 1, AUTHORITY FOR THIS RESOLVTXON This resolu- <br />tion is adopted pursuant to the Community Redevelopment Law [Part 1 <br />of Division 24] of the Health and Safety Code of the State of <br />California (the "Act"). <br /> <br />SECTION 2. DEFINITIONS Unless the context otherwise <br />requires, the terms defined in this section shall have the meanings <br />specified in this section. Words importing singular number shall <br />include the plural number in each case and vice versa, and words <br />importing persons shall include firms and corporations. <br /> <br />A, "Agency" shall mean the city of Santa Ana Community <br />Redevelopment Agency, a redevelopment agency (a public body, corpo- <br />rate and politic), duly created, established and authorized to trans- <br />act business and exercise its powers, all under the laws of <br />California. <br /> <br />B. "Agreement" shall mean the Loan Agreement, dated as of <br />December 21, 1987, between the Issuer and the Agency, substantially <br />in the form attached hereto as Exhibit A. <br /> <br />C. <br /> <br />"City Council" shall mean the City Council of the <br /> <br />Issuer. <br /> <br />D. "Issuer" shall mean the City or Santa Ana, California, <br />a municipal corporation, organized and existing under and pursuant to <br />its Charter and the constitution and laws of the State of <br />California, <br /> <br />E. "Notes" shall mean the City of Santa Ana, Limited <br />Obligation Revenue Notes (Bowers Museum project), 1987 Series A in an <br />aggregate principal amount not to exceed $6,500,000, <br /> <br />SECTION 3. AUTHORIZATION OF EXECUTION OF A~ <br />Upon the issuance of the Note, the Agency intends to enter into the <br />Agreement. The form of the Agreement annexed hereto as Exhibit A is <br />hereby approved in all respects and the Agency hereby directs the <br />Chairman to execute, and the Secretary to attest, the Agreement and <br /> <br />94794.2.2982.07:4 <br />