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<br />I <br /> <br />. <br /> <br />I <br />. <br /> <br />. <br />8 <br /> <br />"', " <br /> <br />RESOLUTION NO. 80-76 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF RESIDENTIAL <br />MORTGAGE REVENUE BONDS, ISSUE OF 1980, SERIES A, FOR THE PURPOSE <br />OF PURCHASING MORTGAGE LOANS TO PROVIDE FINANCING <br />FOR A RESIDENTIAL CONSTRUCTION PROJECT <br /> <br />Supplemental to Resolution No. 80-75, adopted July 1, 1980, <br /> <br />WHEREAS, the legis lature of the State of Cal ifornia has authorized <br />redevelopment agencies to purchase long-term, low-interest rate loans made to <br />provide financing for new residential construction in redevelopment project <br />areas in order to encourage investment within and to upgrade such areas and <br />has authorized redevelopment agencies to issue bonds to finance the purchase <br />of such loans; <br /> <br />WHEREAS, the Agency has heretofore determined by Resol ution No. 80- 75, <br />adopted July 1, 1980, to provide for the issuance of Residential Mortgage <br />Revenue Bonds for the purpose of purchasing Mortgage Loans to provide <br />Financing for Residential Construction within the Agency's City of Santa Ana <br />COI1I11unity Redevelopment Project Area in order to encourage investment within <br />and to upgrade such Project Area; <br /> <br />WHEREAS, it is necessary at this time to provide for the issuance of <br />such Residential Mortgage Revenue Bonds, Issue of 1980, Series A, the proceeds <br />of which shall be used to so purchase Mortgage Loans; and <br /> <br />WHEREAS, all acts, conditions and things required by law to exist, <br />happen and be performed precedent to and in connection with the issuance of <br />the Bonds ex ist, have happened and have been performed in regul ar and due <br />time, form and manner as required by law, and this Agency is now duly <br />empowered by Resolution No. 80-75 and this Supplemental Resolution to issue <br />the 80nds; <br /> <br />NOW, THEREFORE, IT IS ORDERED, as follows: <br />