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<br />. <br /> <br />. <br /> <br />. <br /> <br />REL:adg <br />10/20/81 <br /> <br />RESOLUTION NO. 81-122 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING <br />A BOND ISSUE FOR THE FUNDING œ A PERMANENT <br />LOAN FOR REHABILITATION OF PROPERTY LOCATED <br />AT 209-213 WEST FOURTH STREET AND MAKING <br />CERTAIN FINDINGS IN 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 of bond or notes <br />pursuant to the Community Redevelopment Law or the Marks <br />Historical Rehabilitation Act of 1976 for the purpose of <br />providing financial assistance to developers and owners of <br />properties by funding permanent loans for rehabilitation of <br />said properties within a Designated Rehabilitation Area, <br />therein 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 a bond issue in an amount not to <br />exceed $1,000,000 for the purpose of providing financial <br />assistance to Joseph G. Elias and Ruth Elias by funding <br />permanent loans made for rehabilitation of the property to <br />be acquired by them at 209-213 West Fourth Street. <br /> <br />2. The proceeds of such issue 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 />;9-2- <br /> <br />.11\ <br />