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RESOLUTION NO. 2016 -080 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA (1) APPROVING A PLAN FOR SPENDING <br />EXCESS TAX ALLOCATION BOND PROCEEDS (TAX <br />ALLOCATION BONDS, 2011 SERIES A), <br />(2) AUTHORIZING A BOND EXPENDITURE AGREEMENT <br />WITH THE SUCCESSOR AGENCY TO THE FORMER <br />COMMUNITY AGENCY OF THE CITY OF SANTA ANA TO <br />RECEIVE SUCH FUNDS FOR BOND - ELIGIBLE <br />PURPOSES, AND (3) MAKING CERTAIN FINDINGS IN <br />CONNECTION THEREWITH <br />WHEREAS, the City of Santa Ana is a charter city and municipal corporation duly <br />organized and existing under the Constitution and laws of the State of California; and <br />WHEREAS, the Successor Agency to the former Community Redevelopment <br />Agency of the City of Santa Ana is a public body, corporate and politic, organized and <br />operating under Part 1.85 of Division 24 of the Dissolution Law (defined below); and <br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana <br />( "former Agency ") previously was a California public body, corporate and politic, duly <br />formed by the City Council of the City ( "City Council ") and was organized, existed and <br />exercised the powers of a community redevelopment agency under the California <br />Community Redevelopment Law, Health & Safety Code Section 33000, at seq.; and <br />WHEREAS, Assembly Bill x1 26 ( "AB x1 26 "), effective on June 28, 2011, added <br />Parts 1.8 and 1.85 to Division 24 of the California Health & Safety Code and which laws <br />were modified, in part, and determined constitutional by the California Supreme Court in <br />the petition California Redevelopment Association, et al. v. Ana Matosantos, et al., Case <br />No. S194861 ( "Matosantos Decision "), which laws and court opinion caused the <br />dissolution of all redevelopment agencies and winding down of the affairs of former <br />redevelopment agencies; thereafter, such laws were amended further by Assembly Bill <br />1484 ( "AB 1484 ") that was effective on June 27, 2012 and thereafter further amended <br />by subsequent legislation (together AB x1 26, the Matosantos Decision, AB 1484 and <br />such subsequent legislation are referred to as the "Dissolution Law "); and <br />WHEREAS, as of February 1, 2012, the former Agency became a dissolved <br />community redevelopment agency pursuant to the Dissolution Law; and <br />WHEREAS, as of and on and after February 1, 2012, the Successor Agency is <br />performing its functions as the successor agency under the Dissolution Law to <br />administer the enforceable obligations of the former Agency and is engaged in activities <br />necessary and appropriate to wind down the affairs of the former Agency, all subject to <br />the review and approval by a seven - member Oversight Board formed thereunder; and <br />Resolution No. 2016 -080 <br />Page 1 of 14 <br />