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RESOLUTION N0.{SAFA 2005-002 <br />RESOLUTION APPROVING, AUTHORIZING AND DIRECTING <br />PREPARATION AND EXECUTION OF CERTAIN LEASE <br />FINANCING DOCUMENTS AND AUTHORIZING AND DIRECTING <br />CERTAIN ACTIONS WITH RESPECT THERETO <br />BE IT RESOLVED BY THE SANTA ANA FINANCING AUTHORITY AS <br />FOLLOWS: <br />Section 1. The Board of Directors (the "Board") of the Santa Ana Financing <br />Authority (the "Authority") finds, determines and declares as follows; <br />A. The City of Santa Ana (the "City") proposes to finance the costs of the <br />construction of a parking structure on City-owned property located <br />adjacent to the proposed State Appellate Court Building in Santa Ana, <br />California (the "Improvements"); <br />B. The City has determined to finance the Improvements by entering into a <br />site lease (the "Site Lease") and a lease agreement (the "Lease <br />Agreement") with the Authority; <br />C. The Authority intends to assign its rights under the Site Lease and the <br />Lease Agreement to one or more purchasers to be determined (the <br />"Assignee"); and <br />D. The documents below specified shall be filed with the Authority and the <br />members of the Board, with the aid of its staff, shall review said <br />documents; <br />Section 2. Resolution No. SAFA 2005-001 previously adopted by the Board on <br />February 7, 2005, relating to the financing of the Improvements is hereby rescinded. <br />Section 3. The below-enumerated documents, substantially in the forms on file <br />with the Secretary, be and are hereby approved, and the Executive Director is hereby <br />authorized and directed to execute said documents, with such changes, insertions and <br />omissions as may be approved by such official, and the Secretary is hereby authorized <br />and directed to attest to such official's signature: <br />A. The Site Lease, by and between the City, as lessor, and the Authority, as <br />lessee, pursuant to which the City will lease certain real property (the <br />"Site") to the Authority; <br />B. The Lease Agreement, by and between the Authority, as lessor, and the <br />City, as lessee, pursuant to which the Authority will lease the Site and the <br />Improvements back to the City; and <br />Resolution No. SAFA 2005-002 <br />Page 1 of 2 <br />