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<br />" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />HUG Ø2 '93 03:41PM CRRICK HERRINGTON LA <br /> <br />P.4/6 <br /> <br />':. <br /> <br />"Series 1993 Bonds") for the purposes of (1) refunding the <br />outstaDding Seriea 1989 Bonds (the "1989 Refunded Benda") and the <br /> <br />Series 1986 Bonds (the "1986 Refunded Bonds") (COllectively, the <br />"Refunded Bonds"), (2) financing certain redevelopment projecta <br /> <br />and (3) financing certain costs incurred in connection with the <br /> <br />issuance, sale and delivery of the Series 1993 Bonds, and in <br /> <br />connection with the refunding and det'ea8ancli of the Refunãed <br /> <br />Bonds¡ and has furthsJ:lllOre determined that it is neceasary and <br /> <br />desirable that the Series 1993 Bands be sold by negotiated sale; <br />and <br /> <br />WHBRBAB, the Agency and the City have authorized the <br />creation of the Santa Ana Financing 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 Agreement <br /> <br />dated as of August 1, 1993, by and between the City and the <br /> <br />Agency, to purchase bonds issued by the Agency at public or <br /> <br />negotiated salel and <br />WHERBAS, the Agency 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 1993 Bonds or, <br /> <br />alternatively, one or lIlore Bond Purchase Agreements with the <br /> <br /> <br />Authority as purchaser using proceeds of bonds to be issued by <br /> <br />the Authority and purChased by Donald.on, Lufkin ~ Jenrette (in <br />either case, the "underwriter"}; and <br /> <br />LAI..s222U <br /> <br />2 <br /> <br />-~ <br />