05 - Resolution 2006-003 - Laserfiche WebLink

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D. The Borrower has requested that the Authority authorize by resolution (the "Resolution") the issuance and delivery of the Bonds in an aggregate principal amount not to exceed $8,400,000.00, and designated as the "Housing Authority of the City of Santa Ana Multifamily Housing Revenue Refunding Bonds (City Gardens Apartments) 2006 Series B". E. The Borrower has requested that the Authority execute and deliver a trust indenture, a financing agreement, a regulatory agreement and declaration of restrictive covenants, a bond purchase agreement and an official statement in connection with the issuance and delivery of the Bonds. F. The Authority hereby finds and declares that this resolution is being adopted pursuant to the powers granted by the Act. G. All conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds and the implementation of the Program as contemplated by this resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Act. Section 2. Pursuant to the Act and the Indenture (hereinafter defined), revenue bonds of the Authority, designated as "Housing Authority of the City of Santa Ana Multifamily Housing Revenue Refunding Bonds (City Gardens Apartments) 2006 Series B" in an aggregate principal amount not to exceed $8,400,000.00 (the "Bonds"), are hereby authorized to be issued and delivered. The Bonds shall be executed by the manual or facsimile signature of the Chairperson, Vice Chairperson, Executive Director or Treasurer of the Authority, and attested by the manual or facsimile signature of the Secretary, or any deputy thereof, in the form set forth in an otherwise in accordance with the indenture Section 3. A Trust Indenture (the "Indenture") between the Authority and U.S. Bank National Association, as trustee (the "Trustee"), in the form presented to this meeting, is hereby approved. The Chairperson, Vice Chairperson, Executive Director and Treasurer of the Authority, or any authorized deputy of any of them (the "Designated Officers") are, and each of them acting alone is, hereby authorized, for and in the name and on behalf of the Authority, to execute and deliver the Indenture, and the Secretary of any authorized deputy thereof is hereby authorized, for and in the name and on behalf of the Authority, to attest the Designated Officer's signature on the Indenture, in substantially said form, with such additions thereto or changes therein as are recommended or approved by the Executive Director upon consultation with bond counsel to the Authority, including such additions or changes as are necessary or advisable in accordance with Section 7 hereof, and which may be required in connection with providing alternate security for the payment of the principal of and interest on a portion of the Bonds, (provided that no additions or changes shall authorize and aggregate principal amount of Bonds in excess of $8,400,000.00), the approval of such additions or changes to be conclusively evidenced by the execution and delivery by the Authority of the Indenture. The date, maturity dates, interest rate or Resolution No. 2006-003 Page 2 of 6