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<br />RESOLUTION NO. 80-75 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY <br />OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />RESIDENTIAL MORTGAGE REVENUE BONDS FOR <br />THE PURPOSE OF PURCHASING MORTGAGE LOANS <br />TO PROVIDE FINANCING FOR A RESIDENTIAL <br />CONSTRUCTION PROJECT <br /> <br />RESOLVED, by the Community Redevelopment Agency of the City of Santa <br />Ana, that: <br /> <br />WHEREAS, the legislature of the State of California has authorized <br />redevelopment agencies to purchase long-term, low-interest loans to finance <br />new residential construction within redevelopment project areas in order to <br />encourage investment within and to upgrade such redevelopment project areas <br />and has authorized redevelopment agencies to issue bonds to finance the <br />purchase of such loans; <br /> <br />WHEREAS, the Commun ity Redevelopment Agency of the City of Santa Ana <br />hereby determines to provide for the issuance of Residential Mortgage Revenue <br />Bonds for the purpose of purchasing Mortgage Loans to provide Financing for <br />Residential Construction within the City of Santa Ana Community Redevelopment <br />Project Area in order to encourage investment within and to upgrade such <br />Redevelopment Project Area; <br /> <br />WHEREAS, all acts, conditions and things required by law to exist, <br />happen and be performed precedent to and in connect i on wi th the issuance of <br />the Bonds exist, have happened and have been performed in regular and due <br />time, form and manner as required by law, and this Agency is now duly <br />empowered to issue the Bonds; <br /> <br />NOW, THEREFORE, IT IS ORDERED, as follows: <br /> <br />. <br />. <br /> <br />, <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />t <br />. <br />