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(c) That the issuance of revenue bonds by the Authority in an amount not exceeding Three Million Dollars ($3,000,000) to finance the improvement of the Facility (the "Bonds") is likely to be a substantial factor in the accrual of each of the public benefits re- sulting from the use of the Facility as pro- posed in the Application; and w (d) That the proposed financing is otherwise in accord with the purposes and requirements of the Act. J 2. The Authority does therefore intend to approve said Facility and issue said Bonds in the amount of Three Million Dollars ($3,000,000) in accordance with the fol- lowing terms and conditions. 3. The Bonds will be payable solely from the revenues to be received by the Authority pursuant to a financing agreement to be entered into between the Authority and the Applicant (the "Agreement"), which Agreement shall have a term of not more than forty years. 4. The Bonds shall be issued subject to the condi- tions that (i) the Authority and the Applicant shall have first agreed to mutually acceptable terms and conditions of the Agreement; (ii) the City Council of the City of Santa Ana shall have approved this action of the Authority and shall have caused the Clerk of the Council of the City of Santa Ana to certify such approval to this Authority; (iii) the California Industrial Development Financing Advisory Commission shall have approved the Facility, as described in the Application, and authorized the issuance of Bonds there- fore; (iv) thirty days from the date of publication of this approval shall have elapsed; and (v) all other requisite governmental approvals shall have been first obtained. ..",j 5. The Secretary of the Authority is hereby author- ized and directed as soon as possible to certify the deter- minations and action of the Authority, as set out herein, to the City Council of the City of Santa Ana for its further consideration, as submitted by the Applicant to be attached to said certification. 6. The Secretary is hereby authorized and directed to cause to be published one time in a newspaper of general circulation in the City of Santa Ana, a notice in substan- tially the form before this meeting, naming the Applicant, stating the estimated maximum bond issue, describing the Facility in general terms, and stating that the Application for financing has been approved by the Authority. J 7. The Secretary of the Authority is hereby author- ized and directed to request that the City Council of the City of Santa Ana hold a public hearing at its meeting scheduled for November 5, 1984, to take comments from the ..,;