Laserfiche WebLink
section ~. The foregoing declaration is consistent with the budgetary and <br />financial circurnstar~ces of khe Authority ire that there are no funds bother than proceeds <br />of the obligations} that are reasonably expected to ~~ {i~ reserved, ~ii~ allocated or ~iii~ <br />otherwise set aside, on ~ long-terra basis, by or on behalf of the Authority, or any public <br />entity controlled by the Authority, for the expenditures for the acquisition and <br />rehabilitation of the Project that are expected ko ~~ reimbursed from the proceeds of the <br />obligations. <br />section ~. The Developer shall be responsible for the payrnenk of all present <br />and future costs in connection with the issuance of the obligations, including, but not <br />limited to, any fees and expenses incurred by the Authority in anticipation of the <br />issuance of the obligations, the cost of printing any official stater~ent, raking agency <br />costs, bond counsel fees and expenses, underwriting discount and costs, trustee fees <br />and expense, and the costs of printing the obligations. The payment of the principal, <br />redemption premium, if any, and purchase price of and interest on the obligations shall <br />be solely the responsibility of the Developer. The obligations shall not constitute a debt <br />or obligation of the Authoriky~ <br />section ?, The law firm of hones Fall, A Professional Law Derporationr is <br />hereby named as bond counsel to the Authority in connection with the issuance of khe <br />obligations. The fens and expenses of bond counsel and any financial advisor <br />employed by the Authority in connection with the issuance of the obligations are to be <br />paid solely from the proceeds of the obligations or directly by the Developer. <br />section ~. The appropriate officers or staff of the Authority are hereby <br />authorised, for and in the name of and on behalf of the Authority, to make an <br />application to the California Debt Limit Allocation committee for an allocation of private <br />activity bonds for the financing of the Project. <br />section g. The adoption of this Resolution shall not obligate {i} the Authority to <br />provide financing to the Developer forthe acquisition, rehabilitation and developrr~ent of <br />the Project or to issue the obligations far purposes of such financing; or ~ii~ the <br />Authority, of or any department or agency of the Authority or the pity of Santa Ana to <br />approve any application or request for, or take any other action in connection with, any <br />environmental, general Plan, coning or any ether permit or other action necessary for <br />the acquisition, rehabilitation, development or operation of the Project. <br />section fig. This Resolution shall take effect irr~mediately upon its adoption by <br />the Authority hoard, and the Recording secretary far the Authority shall attest to and <br />ce rtify the note adopting this Resolution , <br />ADAPTED this 1 ~~ day of Aril, ooh. <br />Resolution No. HA 2~~1-4~ <br />P~g~~~f3 <br />