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<br />, . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />and defeasance of the Refunded Bonds; and has furthermore <br />determined that it is necessary and desirable that the Series <br /> <br />1994 Bonds be sold by negotiated sale; and <br /> <br /> <br />WHEREAS, the Aqency and the city have authorized the <br /> <br />creation of the Santa Ana Financinq Authority (the "Authority") <br /> <br />pursuant to the laws of the State of California, which will be <br /> <br />empowered by that certain Joint Exercise of Powers Aqreement <br /> <br />dated as of August 1, 1993, by and between the city and the <br /> <br /> <br />Aqency, to purchase bonds issued by the Aqency at public or <br /> <br />negotiated sale; and <br /> <br />WHEREAS, the Aqency proposes to enter into one or more <br /> <br />Bond Purchase Agreements with the Authority and Donaldson, Lufkin <br /> <br />& Jenrette for the sale and purchase of the Series 1994 Bonds or, <br />alternatively, one or more Bond Purchase Agreements with the <br /> <br />Authority as purchaser using proceeds of bonds to be issued by <br /> <br /> <br />the Authority and purchased by Donaldson, Lufkin & Jenrette (in <br /> <br />either case, the "Underwriter"); and <br />WHEREAS, the Aqency proposes to enter into an Indenture <br /> <br />with a bank or trust company named therein as trustee (the <br /> <br />"Trustee"), for the issuance of the Series 1994 Bonds; and <br /> <br />WHEREAS, the Aqency proposes to enter into a Refundinq <br /> <br /> <br />Escrow Agr...ent, Series 1989B with Dai-Ichi Kanqyo Bank of <br /> <br />California, as escrow agent (the "Escrow Aqent") , for the purpose <br />of defeasinq the Refunded Bonds; and <br /> <br />LAI-60448.1 <br /> <br />2 <br /> <br />40990-9-~12lO9/93 <br />