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<br /> <br /> <br /> <br /> <br /> Iss11/2/10 <br /> <br /> RESOLUTION NO. 2010-XXX <br /> <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA <br /> ANA APPROVING THE ISSUANCE OF REVENUE BONDS BY THE <br /> CALIFORNIA MUNICIPAL FINANCE AUTHORITY FOR THE <br /> PURPOSE OF FINANCING OR REFINANCING THE ACQUISITION, <br /> CONSTRUCTION AND IMPROVEMENT OF CERTAIN <br /> EDUCATIONAL FACILITIES AND CERTAIN OTHER MATTERS <br /> PERTAINING THERETO <br /> <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br /> FOLLOWS: <br /> <br /> Section 1. The City Council of the City of Santa Ana hereby finds, determines <br /> and declares as follows: <br /> <br /> A. Pursuant to Chapter 5 of Division 7 of Title 1 of the Government Code of <br /> the State of California (the "Act"), certain public agencies (the "Members") <br /> have entered into a Joint Exercise of Powers Agreement Relating to the <br /> California Municipal Finance Authority, dated as of January 1, 2004 (the <br /> "Agreement") in order to form the California Municipal Finance Authority <br /> (the "Authority"), for the purpose of promoting economic, cultural and <br /> community development, and in order to exercise any powers common to <br /> the Members, including the issuance of bonds, notes or other evidences of <br /> indebtedness; and <br /> <br /> B. The City of Santa Ana, California (the "City"), is a Member of the Authority; <br /> and <br /> <br /> C. The Authority is authorized to issue and sell revenue bonds for the <br /> purpose, among others, of financing or refinancing the construction of <br /> capital projects; and <br /> D. The Roman Catholic Bishop of Orange, a corporation sole organized and <br /> existing under the laws of the State if California and an organization <br /> described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the <br /> "Borrower") has requested that the Authority issue and sell revenue bonds <br /> in the maximum principal amount of $25,500,000 (the "Bonds") for the <br /> purpose of making a loan to the Borrower, for the benefit of Mater Dei <br /> High School (the "School") to enable the Borrower to refinance certain of <br /> the costs of the acquisition, construction and improvement of certain of the <br /> educational facilities of the School located at 1202 W. Edinger Avenue, <br /> Santa Ana, California 92707 and owned by the Borrower and the <br /> <br /> <br /> Resolution No. 2010-XXX <br /> 75C-3 Page 1 of 4 <br />