75B - PH - RESO TAX EXEMPT - Laserfiche WebLink

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NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Santa Ana as follows: Section 2. The foregoing determinations and declarations are true and correct. Section 3. The City Council hereby approves the issuance of the Bonds by the Authority. It is the purpose and intent of the City Council that this resolution constitute approval of the issuance of the Bonds by the Authority, for the purposes of (a) Section 147(f) of the Code by the applicable elected representative of the governmental unit having jurisdiction over the area in which the Project is to be located, in accordance with said Section 147(f) and (b) of the Code and Section 4 of the Agreement. Section 4. The issuance of the Bonds shall be subject to the approval of the Authority of all financing documents relating thereto to which the Authority is a party. The City shall have no responsibility or liability whatsoever with respect to the Bonds. Section 5. The adoption of this Resolution shall not obligate the City or any department thereof to (1) provide any financing to acquire or construct the Project or any refinancing of the Project; (ii) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition, construction, rehabilitation, installation or operation of the Project; (iii) make any contribution or advance any funds whatsoever to the Authority; or (iv) take any further action with respect to the Authority or its membership therein. Section 6. The City Manager or his designee is hereby authorized and directed, jointly and severalty, to do any and all things and to execute and deliver any and all documents which are deemed necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this resolution and the financing transaction approved hereby, Section 7. This resolution shall take effect immediately upon its adoption. 75B -6