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<br /> <br /> <br /> REQUEST FOR SANTA <br /> ANA FINANCING r <br /> AUTHORITY ACTION <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> OCTOBER 18, 2010 <br /> TITLE: APPROVED <br /> E3 As Recommended <br /> RESOLUTION ESTABLISHING REGULAR E3 Amended <br /> MEETING DATES FOR FINANCING 0 O Or rdinance on 2'` Reading <br /> E:l Ordinance on 2n° Reading <br /> AUTHORITY MEETINGS E3 Implementing Resolution <br /> E3 Set Public Hearing For <br /> ~-2 CONTINUED TO <br /> FILE NUMBER <br /> CITY MANAGER <br /> RECOMMENDED ACTION <br /> Adopt a resolution establishing regular meeting dates for the Financing Authority meetings. <br /> DISCUSSION <br /> The Santa Ana Financing Authority is empowered to issue bonds and provide financial assistance <br /> to the City and/or Agency. Effective January 1, 2010, the California Government Code was <br /> amended to require that the adoption of a resolution authorizing bonds or any issuance of bonds, <br /> or accepting the benefit or proceeds of bonds can only be adopted at a regular meeting. <br /> Currently, the Redevelopment Agency is preparing to issue Recovery Zone Bonds and Tax <br /> Allocation Bonds prior to the close of 2010; and the Santa Ana Financing Authority action is <br /> needed to complete these transactions. This action establishes November 15, 2010, December 6, <br /> 2010, and December 20, 2010 as regular meetings of the Financing Authority for 2010. <br /> FISCAL IMPACT <br /> There is no fiscal impact associated with this action- <br /> Cynthia J. Nelso <br /> Deputy City Manager for Development Services <br /> Community Development Agency <br /> CJN/NTE/mlr <br /> Exhibit: 1. Resolution <br /> 4-1 <br />