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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 2002..()2 <br /> <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF <br />SANTA ANA AUTHORIZING THE ISSUANCE AND DELIVERY <br />OF MULTIFAMILY HOUSING REVENUE BONDS, AUTHORIZING <br />THE EXECUTION AND DELIVERY OF A FINANCING <br />AGREEMENT AND A REGULATORY AGREEMENT, AND <br />AUTHORIZING THE EXECUTION AND DELIVERY OF AND <br />APPROVING OTHER RELATED DOCUMENTS AND <br />APPROVING OTHER RELATED ACTIONS IN CONNECTION <br />THEREWITH <br /> <br />BE IT RESOLVED BY THE HOUSING AUTHORITY OF THE CITY OF <br />SANTA ANA AS FOLLOWS: <br /> <br />Section 1. The Housing Authority of the City of Santa Ana hereby finds, <br />determines and declares as follows: <br /> <br />A. The Housing Authority of the City of Santa Ana (the "Authority") is authorized <br />by Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the State of <br />California (the "Act"), to (a) to issue revenue bonds for the purpose of financing the <br />construction, development or rehabilitation of multifamily rental housing; (b) to enter into <br />agreements for the purpose of providing revenues to pay such revenue bonds upon <br />such terms and conditions as the Authority may deem advisable; and (c) to secure the <br />payment of such revenue bonds; and <br /> <br />B. Orange Housing Development Corporation, a California nonprofit public <br />benefit corporation (the "Borrower") has requested that the Authority issue the revenue <br />bonds described in the following clause (the "Bonds") under the Act for the purpose <br />(hereinafter referred to as the "Program") of financing the Borrower's acquisition, <br />development and rehabilitation of a 45-unit multifamily housing rental project (the <br />"Project") located in the City of Santa Ana, California; and <br /> <br />C. The City Council of the City of Santa Ana, following a properly noticed public <br />hearing, previously authorized issuance of the Bonds by the Authority, subject to <br />subsequent approval by the Authority of the various documents related to the financing; <br />and <br /> <br />D, The Borrower has requested that the Authority authorize by resolution (the <br />"Resolution") the issuance and delivery of the Bonds in an aggregate principal amount <br />not to exceed $2,000,000, and designated as the "Housing Authority of the City of <br />Santa Ana Multifamily Housing Revenue Bond (Minnie Street II Apartments) 2002 <br />Series A"; and <br />