1978-10 CRA - Laserfiche WebLink

Home Browse Search

" ." . - - .. 2/28/78 RESOLUTION NO. 7.8-:-10. A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF $13,500,000 PRINCIPAL AMOUNT OF TAX ALLOCATION BONDS OF SAID AGENCY TO FINANCE A POR- TION OF THE COST OF A REDEVELOPMENT PROJECT KNOWN AS CITY OF SANTA ANA REDEVELOPMENT PRojECT AREA. WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is a redevelopment agency (a public body, corporate and politic) duly created, established and authorized to transact business and exercise its powen, all under and pursuant to the Community Redevelopment Law (Part I of Division 24 of the Health and Safety Code of the State of California) and the powen of such agency include the power to issue bonds for any of its corporate purposes; and WHEREAS, a redevelopment plan for a redevelopment project known and designated as "City of Santa Ana Redevelopment Project Area" has heretofore been adopted and approved and all requirements of law for, and precedent to, the adoption and approval of said plan have been duly complied with; and WHEREAS, said plan contemplates that the Agency will issue its bonds to finance a portion of the cost of such redevelopment; Now THEREFORE, the Community Redevelopment Agency of the City of Santa Ana DOES HEREBY RESOLVE AS FOLLOWS: Section I. Definitions. As used in this resolution the following terms shall have the following meanin~: . (a) "Additional bonds" means any tax allocation bonds issued by the Agency as permitted by Section 17 of this Resolution. (b) "Bonds" or "bonds" means the $13,500,000 principal amount of tax allocation bonds authorized by this resolution. (c) "Federal Securities" means United States Treasury notes, bonds, bills, or certificates of indebtedness or those for which the faith and credit of the United States are pledged for the payment of principal and interest; obligations issued by banks for cooperatives, federal land banks, federal intermediate credit banks, federal home loan banks, the Federal Home Loan Bank Board or the Tennessee Valley Authority; all as arid to the extent that such securities are eligible for the legal investment of Agency funds. (d) "FIscal Agent" means the fiscal agent appointed by the Agency pursuant to Section 23 hereof, its successon and assigns, and any other corporation or association which may at any time be substituted in its place, as provided in this resolution. (e) "FISCal year" means the year period beginning on July 1st and ending on the next following June 30th. (f) "Independent Financial Consultant" means any financial consultant or firm of such consultants appointed by the Agency, and who, or each of whom (I) is in fact independent and not under domination of the Agency; (2) does not have any substantial interest, direct or indirect, with the Agency; and (3) is not connected with the Agency as an officer or employee of the Agency, but who may be regularly retained to make reports to the Agency. (g) "Law" means the Community Redevelopment Law of the State of California as cited in the recitals hereof. 1