2010-060 - Tax Allocation Bonds the Community Redevelopment Agency

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JF 12/1/10 RESOLUTION NO. 2010-060 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE ISSUANCE AND SALE OF TAX ALLOCATION BONDS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA TO FINANCE AND REFINANCE REDEVELOPMENT ACTIVITIES WITHIN OR FOR THE BENEFIT OF THE AGENCY'S MERGED PROJECT AREA BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: A. the Community Redevelopment Agency of the City of Santa Ana (the "Agency") is a public body, corporate and politic, duly established and authorized to transact business and exercise powers under and pursuant to the provisions of the Community Redevelopment Law of the State of California, constituting Part 1 of Division 24 of the California Health and Safety Code (the "Law"), including the power to issue 2010 Bonds for any of its corporate purposes B. the Agency adopted six redevelopment project areas between 1973 and 1989, including the Central City Redevelopment Project Area, the Inter- City Commuter Station Redevelopment Project Area, the North Harbor Boulevard Redevelopment Project Area, the South Harbor Boulevard/Fairview Street Redevelopment Project Area, the South Main Redevelopment Project Area, and the Bristol Corridor Redevelopment Project Area (the "constituent Redevelopment Projects" or "Redevelopment Projects");; C. to allow tax increment revenues to be shared between Redevelopment Projects and thereby facilitate redevelopment of the Redevelopment Projects, the Redevelopment Projects were merged in 2004 in compliance with all requirements of the Law, creating the Merged Project Area; and D. the Redevelopment Projects continue to retain their respective boundaries, time, and financial limits;; Resolution No. 2010-060 Page 1 of 4