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<br />, : " " f '. <br /> <br />. <br /> <br />RESOLUTION NO. 83-8 <br /> <br />RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING <br />~HE ISSUANCE OF TAX ALLOCATION REFUNDING <br />BONDS OF SAID AGENCY IN A PRINCIPAL AMOUNT <br />51! OT TO EXCE~8IJ['fE!!!U MILLION FIVE HUNDRED <br />. THOUSAND DOLLARS ($~500,000) TO REFUND THE <br />$13,500,000 1978 TAX ALLOCATION BONDS OF THE <br />AGENCY AND TO FINANCE A PORTION OF THE COST <br />OF A REDEVELOPMENT PROJECT KNOWN AS THE CITY <br />OF SANTA ANA REDEVELOPMENT PROJECT AREA <br /> <br />. <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana (the "Agency"), is a redevelopment agency (a <br />public body, corporate and politic) duly created, established <br />and authorized to transact business and exercise its powers, <br />all under and pursuant to the Community Redevelopment Law <br />(Part 1 of Division 24 commencing with Section 33000 of the <br />Health and Safety Code of the State of California), and the <br />powers of the Agency include the power to issue bonds for any <br />of its corporate purposes; and <br /> <br />WHEREAS, the Redevelopment Plan for a redevelopment <br />project known and designated as the "City of Santa Ana <br />Redevelopment Project Area" has been adopted and approved by <br />Ordinance No. 1173 of the City of Santa Ana, which became <br />effective on August 1, 1973, and which was amended by Ordinance <br />No. 1258 of the City of Santa Ana which became effective on <br />July 2, 1975, and all requirements of law for and precedent to <br />the adoption and approval of the Redevelopment Plan have been <br />duly complied with; and <br /> <br />WHEREAS, the Agency has previously issued $13,500,000 <br />aggregate principal amount of its City of Santa Ana Redevelop- <br />ment Project Area, 1978 Tax Allocation Bonds pursuant to <br />Resolution No. 78-10 adopted by the Agency on February 28, 1978 <br />(the "1978 Resolution"); and <br /> <br />~ WHEREAS, for the corporate purposes of the Agency, the <br />4It Agency deems it necessary to issue at this time additional tax <br />llocation refunding bonds in a principal amount not to exceed <br />5eø nli..L__u Million Five Hundred Thousand Dollars ($1~500,000), <br />and to use the proceeds of such bonds to refund the 1978 Tax <br />Allocation Bonds, to finance,a portion of the costs of the City <br />of Santa Ana Redevelopment Project Area, to fund the Debt <br />Service Reserve Account created in the Resolution, to pay costs <br />in connection with the issuance of the Bonds and to make <br />certain other deposits as required by this Resolution; and <br /> <br />/1-/<i <br /> <br />3A <br />