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• RESOLUTION NO. 2010-055 <br />Iss11/2/10 <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 />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <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 />B. The City of Santa Ana, California (the "City"), is a Member of the Authority, <br />and <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 />Resolution No. 2010-055 <br />Page 1 of 4