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<br />I <br /> <br />Chairman Ward invited Mr. Terry McCarty of Stone and Youngberg Municipal <br />Financing Consultants, Inc. to give the Agency his assessment of the <br />4Ifroposed bond issue. <br /> <br />Mr. McCarty advised the Agency that Stone and Youngberg Municipal <br />Financing Consultants had been involved in the negotiations for this <br />bond issue for quite a while and that they had been associated with all <br />those involved for a long period of time. He added that he had reviewed <br />the market before corning to the Agency meeting and that he felt that <br />this particular offering is consistent with the market and that the <br />coupon rating also reflects the marketplace. Mr. McCarty stated further <br />that he felt it was a fair program and that he would recommend that the <br />Agency adopt it. <br /> <br />After further discussion, it was moved by Mr. Bricken, seconded by Mr. <br />Ward and carried by a vote of 6:1 (Mr. Markel casting the dissenting <br />vote) that the Agency adopt the following Resolutions: <br /> <br />1. <br /> <br />Resolution 80-75: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />RESIDENTIAL MORTGAGE REVENUE BONDS FOR THE PURPOSE OF <br />PURCHASING MORTGAGE LOANS TO PROVIDE FINANCING FOR A <br />RESIDENTIAL CONSTRUCTION PROJECT. <br /> <br />. <br /> <br />2. <br /> <br />Resolution 80-76: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980, FOR THE <br />PURPOSE OF PURCHASING MORTGAGE LOANS TO PROVIDE FINANCING FOR <br />A RESIDENTIAL CONSTRUCTION PROJECT. <br /> <br />3. <br /> <br />Resolution 80-77: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA APPROVING RULES AND <br />REGULATIONS RELATING TO ITS RESIDENTIAL MORTGAGE FINANCING <br />PROGRAM . <br /> <br />ADJOURNMENT <br /> <br />There being no further business to corne before the Community <br />Redevelopment Agency, the meeting was unanimously adjourned at 5:50 P.M. <br /> <br />-r!1 E. ;;:rt~ <br /> <br />fld¡ t~ <br /> <br />Dav ld N. Ream, <br />Esec~~ Director <br /> <br />, <br /> <br />. <br /> <br />3. f y <br />