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<br /> <br /> <br /> <br /> E. the Redevelopment Projects continue to retain their respective <br /> boundaries, time, and financial limits; <br /> F. the Agency has determined that, due to financial conditions of the Agency <br /> and prevailing financial market conditions, it is in the best interests of the <br /> Agency at this time to finance and refinance redevelopment activities for <br /> the benefit of the Redevelopment Projects and, in particular, to: <br /> (1) refund, on a current basis, the outstanding Santa Ana Financing <br /> Authority Refunding Revenue Bonds, 1998 Series A (City of Santa Ana <br /> and South Harbor Boulevard/Fairview Street Redevelopment Projects) <br /> (the "1998A Bonds"), <br /> (2) refund, on a current basis, the outstanding Santa Ana Financing <br /> Authority Refunding Revenue Bonds, 1998 Series B (City of Santa Ana <br /> and South Harbor Boulevard/Fairview Street Redevelopment Projects) <br /> (the "1998B Bonds"), <br /> (3) refund, on a current basis, the outstanding Santa Ana Financing <br /> Authority Refunding Revenue Bonds, 1998 Series C (Inter-City Commuter <br /> Station Redevelopment Project) (the "1998C Bonds"), <br /> (4) refund, on a current basis, the outstanding Santa Ana Financing <br /> Authority Refunding Revenue Bonds, 1998 Series D (Main Place Project) <br /> (the "1998D Bonds" and, with the 1998A Bonds, the 1998B Bonds and the <br /> 1998C Bonds, the "1998 Bonds"), and <br /> (5) finance certain public parking and infrastructure improvements (the <br /> "2010 Project'); <br /> G. to provide moneys to refund the 1998 Bonds and, if for any reason the <br /> Agency is unable to issue or determines not to issue the 20106 Bonds <br /> (hereinafter defined), to finance the 2010 Project, the Agency has <br /> determined to issue its Community Redevelopment Agency of the City of <br /> Santa Ana Tax Allocation Bonds (Merged Project Area), 2010 Series A, in <br /> the aggregate principal amount of not to exceed $75,000,000 (the "201 OA <br /> Bonds"), under the provisions of Article 9 of Chapter 3 (commencing with <br /> section 53570) of Division 2 of Title 5 of the California Government Code <br /> and, if the 201 OA Bonds include provision for the 2010 Project, under the <br /> provisions of Part 1 of Division 24 of the California Health and Safety <br /> Code, commencing with section 33640 of said Code (the "Redevelopment <br /> Bond Law"); <br /> H. the American Recovery and Reinvestment Act of 2009 (the "Federal <br /> Stimulus Act'), added sections 14000-1 and 14000-2 to the Internal <br /> Revenue Code of 1986 (the "Code"), authorizing state and local <br /> Resolution No. SAFA 2010- <br /> Page 2 of 2 4-6 <br />