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RESOLUTION NO. 2014 -001 <br />A RESOLUTION OF THE SANTA ANA FINANCING <br />AUTHORITY APPROVING THE FORM AND AUTHORIZING <br />THE EXECUTION OF CERTAIN LEASE FINANCING <br />DOCUMENTS IN CONNECTION WITH THE DEFEASANCE <br />OF A PORTION OF THE SANTA ANA FINANCING <br />AUTHORITY POLICE ADMINISTRATION AND HOLDING <br />FACILITY LEASE REVENUE BONDS, SERIES 1994A, AND <br />THE DEFEASANCE AND REFUNDING OF THE <br />OUTSTANDING CITY OF SANTA ANA CERTIFICATES OF <br />PARTICIPATION (1998 CITY HALL EXPANSION PROJECT) <br />AND AUTHORIZING AND DIRECTING CERTAIN ACTIONS <br />WITH RESPECT THERETO <br />BE IT RESOLVED BY THE BOARD OF DIRECTORS (THE "BOARD ") OF THE <br />SANTA ANA FINANCING AUTHORITY (THE "AUTHORITY "), AS FOLLOWS: <br />WHEREAS, the Authority has heretofore issued its Santa Ana Financing Authority <br />Police Administration and Holding Facility Lease Revenue Bonds, Series 1994A (the "1994 <br />Bonds "); <br />WHEREAS, the proceeds of the 1994 Bonds were used to finance the costs of the <br />construction and equipping of a police administration and holding facility (the "1994 <br />Project "); <br />WHEREAS, the payment of debt service on the 1994 Bonds is derived from lease <br />payments made by the City of Santa Ana (the "City ") to the Authority under a lease <br />agreement, subsequently amended in connection with certain refunding bonds issued in <br />2004, payable from the City's General Fund (the "1994 Lease Agreement "); <br />WHEREAS, the 1994 Bonds are currently outstanding in the principal amount of <br />$67,100,000; <br />WHEREAS, the City has previously caused the execution and delivery of its <br />Certificates of Participation (1998 City Hall Expansion Project) (the "1998 Certificates "); <br />WHEREAS, the proceeds of the 1998 Certificates were used to finance the costs of <br />the construction of an expansion to the City of Santa Ana City Hall (the "1998 Project "); <br />WHEREAS, the payment of debt service on the 1998 Certificates is derived from <br />lease payments made by the City to the Authority under a lease agreement payable from <br />the City's General Fund (the "1998 Lease Agreement "); <br />WHEREAS, the 1998 Certificates are currently outstanding in the principal amount <br />SAFA Resolution No. 2014 -001 <br />Page 1 of 5 <br />