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RESOLUTION 2001-05
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RESOLUTION 2001-05
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Last modified
1/3/2012 3:31:53 PM
Creation date
10/25/2011 11:27:52 AM
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City Clerk
Doc Type
Resolution
Doc #
HA 2001-05
Date
10/1/2001
Destruction Year
PERM
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<br />. <br /> <br />. <br /> <br />. <br /> <br />4, The foregoing declaration is consistent with the budgetary and financial <br />circumstances of the Authority in that there are no funds (other than proceeds of the <br />Obligations) that are reasonably expected to be (i) reserved, (ii) allocated or (iii) otherwise set <br />aside, on a long-term basis, by or on behalf of the Authority, or any public entity controlled by <br />the Authority, for the expenditures for the acquisition and rehabilitation of the Project that are <br />expected to be reimbursed from the proceeds of the Obligations. <br /> <br />5, The Developer shall be responsible for the payment of all present and future <br />costs in connection with the issuance of the Obligations, including, but not limited to, any fees <br />and expenses incurred by the Authority in anticipation of the issuance of the Obligations, the <br />cost of printing any official statement, rating agency costs, bond counsel fees and expenses, <br />underwriting discount and costs, trustee fees and expense, and the costs of printing the <br />Obligations, The payment of the principal, redemption premium, if any, and purchase price of <br />and interest on the Obligations shall be solely the responsibility of the Developer, The <br />Obligations shall not constitute a debt or obligation of the Authority. <br /> <br />6. The law firm of Jones Hall, A Professional Law Corporation, is hereby named as <br />bond counsel to the Authority in connection with the issuance of the Obligations, The fees and <br />expense of bond counsel and any financial advisor employed by the Authority in connection <br />with the issuance of the Obligations are to be paid solely from the proceeds of the Obligations <br />or directly by the Developer, <br /> <br />7, The appropriate officers or staff of the Authority are hereby authorized, for and <br />in the name of and on behalf of the Authority, to make an application to the California Debt <br />Limit Allocation Committee for an allocation of private activity bonds for the financing of the <br />Project. <br /> <br />8, The adoption of this Resolution shall not obligate (i) the Authority to provide <br />financing to the Developer for the acquisition, rehabilitation and development of the Project or <br />to issue the Obligations for purposes of such financing; or (ii) the Authority, of or any <br />department of the Authority or the City of Santa Ana to approve any application or request for, <br />or take any other action in connection with, any environmental, General Plan, zoning or any <br />other permit or other action necessary for the acquisition, rehabilitation, development or <br />operation of the Project. <br /> <br />9, <br /> <br />This resolution shall take effect immediately upon its adoption. <br /> <br />-2- <br />
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