1998-13 CRA - Laserfiche WebLink

Home Browse Search

. . . ~ COMMUNITY REDEVEWPMENT AGENCY OF THE CITY OF SANTA ANA RESOLUTION NO. 98-13 RESOLUTION APPROVING, AND AUTHORIZING AND DIRECTING ÐŒCUTIONOFCERTMNBONDflNANONGDOCUMÐITSAND AUTHORIZING AND DIRECI'ING ACI'IONS WITH RESPECT THERETO RESOLVED, by the Board of Directors (the "Board") of the Community Redevelopment Agency of the City of Santa Ana (the" Agency"), as follows: WHEREAS, the Agency has issued its Community Redevelopment Agency of the City of Santa Ana City of Santa Ana Redevelopment Project 1989 Tax Allocation Refunding Bonds (MainPlace Project) (the "Agency Bonds"), and the Agency has determined that it is in the best financial interests of the Agency to provide for the refinancing of the Agency Bonds at this time; and WHEREAS, in order to refinance the Agency Bonds on advantageous terms and conditions, the Santa Ana Financing Authority (the" Authority") proposes to issue its revenue bonds (the "Bonds") and to use the proceeds of the Bonds to purchase the Agency Bonds in lieu of the redemption of the Agency Bonds; and WHEREAS, the refinancing program will result in substantial interest rate savings to the Agency; and WHEREAS, the Board wishes at this time to authorize all proceedings on the part of the Agency related to the issuance of the Bonds and the purchase of the Agency Bonds, and to approve the execution and delivery by the Agency of all agreements and documents to which it is a party relating thereto; and WHEREAS, a Preliminary Official Statement containing information material to the offering and sale of the Bonds has been prepared and is on file with the Secretary; and WHEREAS, the other documents listed below are also on file with the Secretary, and the Board, with the assistance of Agency Staff and consultants, has reviewed said documents and now desires to approve them so that the refinancing program can be consummated. NOW, THEREFORE, it is hereby DECLARED, ORDERED and DETERMINED as follows: Section 1. Amendment of Agency Bond Indenture, Call of Agency Bonds for Redemption. The Board hereby approves the First Supplemental Indenture of Trust amending and supplementing the Indenture of Trust pursuant to which the Agency Bonds were issued, by and between the Agency and the trustee for the Agency Bonds, in the form on file with the Secretary. The Chairman, the Executive Director or the Treasurer, is hereby authorized and directed to execute and deliver, for and on behalf of the Agency, the First Supplemental Indenture of Trust in said form, together with such changes, insertions and deletions as may ~ approved by the official executing such document upon consultation with the Agency's general \ counsel and Bond Counsel, the approval thereof to be conclusively evidenced by the execution and delivery by the Agency of the First Supplemental Indenture of Trust.