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<br />2/28/78
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<br />properties other than those of the Agency as in this resolution set forth. Said Bonds do not constitute
<br />an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
<br />Neither the memben of the Agency nor any penons executing the Bonds are liable penonally on the
<br />Bonds by reason of their issuance.
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<br />The validity of said Bonds is not and shall not be dependent upon the completion of the Rede-
<br />velopment Project or upon the performance by anyone of his obligation relative to the Redevelopment
<br />Project.
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<br />Nothing in this resolution shall preclude the redemption and payment of said Bonds prior to
<br />maturity, or the payment thereof at maturity, from the proceeds of refunding bonds issued pursuant
<br />to law. Nothing in this resolution shall prevent the Agency from making adva¡¡ces of its own funds
<br />howsoever derived to any of the uses and purposes mentioned in this resolution.
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<br />Section 4. Description of Bonds. The Bonds shall be in the principal amount of $13,500,000,
<br />sball be 2,700 in number, numbered 1 to 2700 inclusive, and shall be of the denomination of $5,000 each.
<br />Said Bonds sball be designated CITY OF SANTA ANA REDEVELOPMENT PROJECT AREA, 1978
<br />TAX ALLOCATION BONDS, shall be dated April 1, 1978 (except that fully registered Bonds shall be
<br />dated as hereinafter provided), and shall mature on April 1 in each of the yean and in the amounts as
<br />follows:
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<br /> l'rIneIP8I frInclpod
<br /> Year Amount Ye.. Amount
<br /> 1979 $ 225,000 1992 $ 520,000
<br /> 1980 , 240,000 1993 555,000
<br /> 1981 , 260,000 1994 ' 590,000
<br /> 1982 275,000 1995 625,000
<br /> 1993 ' 295,000 1996 ' 670,000
<br /> 1984 315,000 1997 715,000
<br /> 1985 335,000 1998 760,000
<br /> 1986 ' 355,000 1999 ' 810,000
<br /> 1987 , 380,000 2000 860,000
<br /> 1988 ' 405,000 2001 915,000
<br /> 1989 , 430,000 2002, 980,000
<br />. 1990 , 455,000 2003 1,045,000
<br />1991 485,000 .
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<br />The fully registered Bonds shall be numbered by the Fiscal Agent hereinafter designated, as said
<br />Fiscal Agent shall determine and shall be dated as of the date of authentication thereof, except that
<br />fully registered Bonds issued upon exchanges and transfers shall be dated so that no gain or loss of
<br />interest shall result from such exchange or transfer. Each fully registered Bond shall bear interest
<br />from the interest payment date next preceding the date thereof unless it is dated as of an interest
<br />payment date, in which event it shall bear interest from the date thereof, or unless it is dated prior
<br />to the first interest payment date, in which event it shall bear interest from April 1, 1978. Interest
<br />on fully registered Bonds shall be paid by the Fiscal Agent by check or draft mailed to the registered
<br />owner at his address as it appean on the bond register kept by the FIscal Agent pursuant to Section 9
<br />ot this resolution.
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<br />Section 5. Interest. The Bonds shall bear interest at a rate or rates to be hereafter fixed by
<br />resolution, but not to exceed 8 % per annum, payable semiannually on the lint days of April and
<br />October of each year, commencing on October 1, 1978. Each Bond shall bear interest until the principal
<br />sum thereof has been paid; provided, however, that if at the maturity date of any Bond, or if the same
<br />has been duly called for redemption, then at the date fixed for redemption, funds are available for the
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