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provisions of the Community Redevelopment Law of the State of <br />California; <br />~' <br />WHEREAS, Article 4 of Chapter 5 of Division 7 of Title 1 <br />of the Government Code of the State of California (the "Marks-Roos <br />... <br />Local Bond Pooling Act of 1985") authorizes and empowers the <br />Authority to. issue bonds and to purchase bonds issued, or to make <br />loans to, the Agency or the City for financing public capital <br />improvements, working capital, liability and other insurance needs, <br />or projects whenever there are significant public benefits, as <br />determined by the Agency or the City, as the case may be; <br />WHEREAS, the Marks-Roos Local Bond Pooling Act of 1985 <br />further authorizes and empowers the Authority to sell bonds so <br />issued or purchased to~public or private purchasers at public or <br />negotiated sale; and <br />WHEREAS, by this Agreement, the City .and the Agency <br />desire to create and establish the Santa Ana Financing Authority <br />for the purposes set forth herein and to exercise the powers <br />described herein; <br />NOW, THEREFORE, the City and the Agency, for and in <br />consideration of the mutual promises and agreements herein <br />contained, do agree as follows: <br />SECTION 1. DEFINITIONS <br />Unless the context otherwise requires, the terms defined <br />in this Section 1 shall for all purposes of this Agreement have the <br />meanings herein specified. <br />i.ni.cssz~.z 2 <br />