HomeMy WebLinkAbout93-072 - The Santa Ana South Main Street Redevelopment Project1099
RESOLUTION NO. 93-072
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA APPROVING THE REFI-
NANCING OF CERTAIN PRIOR OBLIGATIONS FOR
THE BENEFIT OF THE SANTA ANA SOUTH MAIN
STREET REDEVELOPMENT PROJECT BY THE
COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF SANTA ANA
WHEREAS, the Community Redevelopment Agency of the City of
Santa Ana (the "Agency") is authorized pursuant to Part 1 of
Divis~ion 24 (commencing with Section 33000 of the California Health
and safety Code (the "Act") to issue bonds for any of its corporate
purposes; and
WHEREAS, in order to finance certain redevelopment activities
and to refinance certain outstanding obligations of the Agency, the
Agency has indicated its intention to issue not to exceed
$47,000,000 aggregate principal amount Of Santa Ana South Main
Street Redevelopment Project Tax Allocation Refunding Bonds, Series
1993D (the "Bonds"); and
WHEREAS, pursuant to the Act, the city Council also must
authorized the issuance of the Bonds by the Agency;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the city
of Santa Ana as follows:
1. This City Council hereby approves the refinancing of
certain outstanding obligations originally issued to finance
certain redevelopment activity within the Santa Ana South Main
Street Redevelopment Project, and the financing of certain
redevelopment projects, all of which constitute a "redevelopment
activity" as such term is defined in Section 33678 of the Act, by
means of the issuance of not to exceed $47,000,000 aggregate
principal amount of the Agency's Santa Ana South Main Street
Redevelopment Project Tax Allocation Refunding Bonds, Series 1993D,
pursuant to the provisions and subject to the requirements of the
Act. This approval is intended to satisfy the requirements of
Health and Safety Code section 33640.
2. This Resolution shall take effect immediately upon
adoption.
" ,101,
RESOLUTION 93-072
Page 2
ADOPTED this 2nd
ATTEST:
C. Guy ~7
Clerk of the Counci~ J
COUNCILMEMBERS:
Young Aye
Pulido Absent
Lutz Aye
Mills Aye
Moreno Aye
Norton Absent
Richardson Aye
day of August , 1993.
APPROVED AS TO FORM:
CERTIFICATE OF ORIGINALITY & PUBLICATION
State of California
County of Orange
0
0
I, JANICE C. GUY, Clerk of the Council, do hereby certify the attached Resolution
a~.~ .. 0?,,9_ to be the original resolution adopted by the City Council of the
City of Santa Ana on ~- ~ - 9' 3
Date:
2
Clerk of the'"C6uficil ~
City of Santa Ana