HomeMy WebLinkAbout93-096 - Refinancing of Certain Prior Obligations for the Benefit of the City of Santa AnaRESOLUTION NO. 93- 096
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 CITY OF SANTA ANA
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
Division 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 $98,000,000 aggregate principal amount of City of Santa
Ana Redevelopment Project Subordinate Tax Allocation Refunding
Bonds, Series 1993B (the "Bonds"); and
WHEREAS, pursuant to the Act, the City Council also
must authorize 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
or refinance certain redevelopment activity within the city of
Santa Ana Redevelopment Project, 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 $98,000,000
aggregate principal amount of the Agency's City of Santa Ana
Redevelopment Project Subordinate Tax Allocation Refunding Bonds,
Series 1993B, 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.
RESOLUTION NO. 93-096
Page 2
adoption.
2. This Resolution shall take effect immediately upon
ADOPTED this 20t. h day of D~ember , 1993.
ATTEST:
_~a~ice C.Guy "
Clerk of the Council
Mayor
COUNCIL~EMBERS:
APPROVED AS TO FORM:
Young AYE
Pulido AYE
Lutz AYE
McGuigan AYE
Mills AYE
Moreno AYE
Richardson AYE
CERTIFICATE OF ORIGINALITY & PUBLICATION
State of California
County of Orange
I, JANICE C. GUY, Clerk of the Council, do hereby certify the attached Resolution
93-096 to be the original resolution adopted by the City Council of the
12/20/93
City of Santa Aha on
2
Clerk of the Council
City of Santa