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<br />. <br /> <br />. <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />ARTICLE II <br />THE BONDS <br /> <br />201. Authorization. Bonds of the Agency are hereby authorized to be <br />issued under and subject to the terms of this Resolution for the purpose of <br />purchasing Mortgage Loans to provide Financing for Residential Construction as <br />authorized by the Act, including the payment of Costs of Issuance. The Bonds <br />are in the amount of $30,000,000 and shall be designated as "Corrmmity <br />Redevelopment Agency of the City of Santa Ana, Residential Mortgage Revenue <br />Bonds, Issue of 19BO"; provided, however, that the first such series of bonds <br />shall be issued in the amount of $11,500,000 and shall be designated as <br />"Comllllnity Redevelopment Agency of the City of Santa Ana, Residential Mortgage <br />Revenue Bonds, Issue of 1980, Series A", The Bonds may be issued and sold in <br />such amounts at such time as shall be established by the Agency, by a <br />Supplemental Resolution and such Supplemental Resolution shall set forth the <br />items hereinafter required and any other additional information herein <br />, elsewhere authorized Or required, or necessary to identify more fully the <br />Bonds. <br /> <br />202. Date of Bonds. Each Bond shall be dated as 'of, and bear interest <br />from, its Issue Date, except as otherwise provided in Section 205 in the case <br />of Fully Registered Bonds. <br /> <br />203. Interest Payment Dates. <br />Interest Payment Dates. <br /> <br />204. prin~i~al I~stall~t Date. The Bonds shall mature from time to <br />time on Principa nsta lment Dates not exceeding fifty (50) years from their <br />respective Issue Dates as shall be specified in the Supplemental Resolution. <br /> <br />Interest on the Bonds shall be payable on <br /> <br />205. <br /> <br />Medium of Payment; Form and Date. <br /> <br />(A) The Bonds shall be payable, with respect to interest, <br />principal and Redemption Price, in lawful money of the United States of <br />America which at the time of payment is legal tender for the payment of public <br />and private debts. <br /> <br />(B) The Bonds shall be issued in the form of coupon Bonds, or in <br />the form of Fully Registered Bonds without coupons, or in both such forms, <br />such forms to be specifically provided for in the Supplemental Resolution. <br /> <br />(C) The Issue Date of the coupon 80nds shall be as of the date <br />specified in the Supplemental Resolution. Coupon 80nds shall bear interest <br />from the ir date, payable in accordance with, and upon surrender of, the <br />appurtenant interest coupons as they severally mature. Fully Registered 80nds <br />issued prior to the first Interest Payment Date thereof shall be dated as of <br />the Issue Date specified in the Supplemental Resolution. Fully Registered <br />Bonds issued on or subsequent to the first Interest Payment Date thereof shall <br />be dated as of the Interest Payment Date immediately preceding the date of <br />delivery thereof, unless such date of delivery shall be an Inte'rest Payment <br />Date, in which case they shall be dated as of such date of del ivery; provided, <br />however, that if, as shown by records of the Trustee, interest on Bonds shall <br />16 <br />