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<br />RESOLUTION NO. 80-7 <br />PAGE TWO <br /> <br />. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />1. The Agency has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the redevelopment of the Property pursuant <br />to the proposed Agreement is in the best interests of the <br />City and the health, safety, morals and welfare of its <br />residents, and is in accord with the public purposes and <br />provisions of the applicable state and local laws. <br /> <br />2. The Agency hereby finds and determines that <br />the consideration for the sale of the property pursuant to <br />the Disposition and Development Agreement between the Agency <br />and California Teachers Federal Credit Union is not less <br />than the fair market value of the Property in accordance <br />with the covenants and conditions governing the sale. <br /> <br />. <br /> <br />3. The sale of the property by the Agency to <br />California Teachers Federal Credit Union and the Disposition <br />and Development Agreement which establishes the terms and <br />conditions for the sale and development of the property, <br />aare hereby approved. <br /> <br />4. The Chairman of the Agency is hereby <br />authorized to execute the Disposition and Development <br />Agreement and Grant Deeds pertaining thereto. <br /> <br />5. The Executive Director is hereby authorized <br />to take all steps, and to sign all documents and instruments <br />necessary to implement and carry out said Agreement on <br />behalf of the Agency. <br /> <br />ADOPTED this 21st day of <br />January, 1980, by the following vote: <br /> <br />AYES: MEMBERS Griset, Luxembourger, Serrato, <br /> Ward, Yamamoto <br />NOES: MEMBERS Markel <br />ABSENT: MEMBERS: Bricken <br /> <br />ATTEST: <br /> <br />. <br /> <br />~~~ <br /> <br />RICHARD E. GOBLIRSCH <br />Executive Director/ <br />Recording Secretary <br /> <br />~ ~ CJ~ <br />~ C~'AA~ <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />¿,~oo~ <br /> <br />Agency Legal Counsel <br /> <br />. <br /> <br />l! <br /> <br />10 <br />