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<br />" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />REL:adg <br />5/13/80 <br /> <br />RESOLUTION NO. 80- 51 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING <br />BOND ISSUES FOR THE FUNDING OF PERMANENT <br />LOANS FOR REHABILITATION OF SPECIFIED PROP- <br />ERTIES AND MAKING CERTAIN FINDINGS IN <br />CONNECTION THEREWITH <br /> <br />WHEREAS, by Resolution No. 79-61, adopted:November <br />" 5, 1979, the Community Redevelopment Agency of the City of <br />~ Santa Ana adopted a Major Commercial Rehabilitation Program <br />. and declared its intention to issue bonds or notes pursuant <br />. to the Community Redevelopment Law or the Marks Historical <br />Rehabilitation Act of 1976 for the purpose of providing <br />financial assistance to developers and owners of properties <br />by funding permanent loans for rehabilitation of said <br />properties within a Designated Rehabilitation Area, therein <br />described; and <br /> <br />WHEREAS, in order to induce developers and owners <br />of property within the described Designated Rehabilitation <br />Area, the Community Redevelopment Agency of the City of <br />Santa Ana desires to take official action authorizing the <br />issuance of specified bonds to fund loans made for <br />rehabilitation of specified properties by developers and <br />owners. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />1. In accordance with the general requirements <br />set forth in Resolution Number 79-61, this Agency hereby <br />authorizes the issuance of one or more separate and distinct <br />bond issues in an amount not to exceed $1,000,000 per bond <br />issue for the purpose of providing financial assistance to <br />the developers or owners set forth herein below by <br />funding permanent loans made for rehabilitation of the <br />property set forth below: <br /> <br />Developer or Owner <br /> <br />1) Steven J. Keiser <br />Paula B. Keiser <br /> <br />Location of Project Property <br /> <br />412, 414, 416 W. Fourth <br />Street <br /> <br />2) Blanche Marks, et al <br /> <br />402 W. Fourth Street <br /> <br />3) All Coast Trading Co. 406 W. Fourth Street <br /> <br />2. The proceeds of such issue of bonds shall <br />include related and necessary issuance expenses, <br />administrative costs, reasonably required reserves and <br />interest payments. <br /> <br />3. Such issue of bonds shall be issued subject <br />to completion of issuance, sale and delivery proceedings and <br />other matters relating thereto to the full satisfaction of <br />the Agency. <br /> <br />4. It is hereby found and determined that the <br />providing of financial assistance, as more particularly <br />described herein and in Resolution No. 79-61, is a <br />substantial inducement to the aforesaid developer or owner <br />to rehabilitate the aforedescribed property, that said <br /> <br />"11 <br /> <br />7B <br />