HomeMy WebLinkAbout1993-003 SAFARESOLUTION NO. 93- 003 SAFA
A RESOLUTION OF THE SANTA ANA FINANCING AUTHORITY
AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND
PURCHASE AGREEMENT BY AND BETWEEN THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, THE
SANTA ANA FINANCING AUTHORITY AND THE UNDERWRITER
NAMED THEREIN AND ACTIONS RELATED THERETO
WHEREAS, the Community Redevelopment Agency of the City
of santa Ana (the "Agency") has determined to issue its Community
Redevelopment Agency of the City of Santa Aha, city of Santa Aha
Redevelopment Project Subordinate Tax Allocation Refunding Bonds,
Series 1993B, in the aggregate principal amount of not to exceed
$98,000,000 (the "Bonds"); and
WHEREAS, the Santa Ana Financing Authority (the
"Authority"), pursuant to the Marks-Roos Local Bond Pooling Act
of 1985 (Article 4, Chapter 5, Division 7, Title 1 of the
California Government Code) has the authority to purchase and
resell the Bonds; and
WHEREAS, the purchase and resale by the Authority of
the Bonds will result in significant public benefits in the form
of demonstrable savings in effective interest rates, and the more
efficient delivery of local agency services;
NOW, THEREFORE, BE IT RESOLVED by the Governing Board
of the Santa Ana Financing Authority, as follows:
Section 1. The foregoing recitals are true and correct
and the Authority hereby so finds and determines.
'RESOLUTION SAFA 93-003
Page 2
Section 2. The Executive Director of the Authority is
hereby authorized to execute and deliver the Bond Purchase
Agreement (the "Bond Purchase Agreement"), by and among the
Authority, the Agency and the underwriter named therein, in
substantially the form presented to this meeting and on file with
the Secretary of the Authority.
Section 3. The Chair, Vice-Chair, Treasurer, the
Executive Director and Secretary of the Authority are hereby
authorized and directed, jointly and severally, to do any and all
things and to execute and deliver any and all documents which
they may deem necessary or advisable in order to consummate the
issuance, sale and delivery of the Bonds as contemplated in the
Bond Purchase Agreement, and anysuch actions previously taken by
the aforementioned officers are hereby ratified, confirmed and
approved in all respects.
~RESOLUTION SAFA 93-003
Page 3
Section 4.
after its adoption.
PASSED, APPROVED
the following vote:
AYES: Lutz, McGuigan, Mills,
NOES: None
ABSENT: None
ABSTAINED: None
ATTEST:
Janice C. Guy
This resolution shall take effect from and
AND ADOPTED on December 20_, 1993, by
~Ioreno, Pulido, Richardson, Young
,! ·
APPROVED AS TO FORM:
~unsel
Edward J. Cooper
-'RESOLUTION SAFA 93-003
Page 4
SECRETARY'S CERTIFICATE
Authority,
Janice C. Gu~
I, / , Secretary of the Santa Ana Financing
do hereby certify as follows:
The foregoing resolution is a full, true and correct
copy of a resolution duly adopted by a vote of a majority of the
members of the Governing Board of said Authority at a
meeting of the Governing Board of said Authority duly and
regularly and legally held at 22 civi~ ~on~or DI~ , ~n~ An~
, California, on December __, 1993, of which meeting
all of such members had due notice, as follows:
AYES: Lutz, McGuigan, Mills, Moreno, Pulido, Richardson, Young
NOES: None
ABSENT: None
ABSTAINED: None
An agenda of said meeting was posted at least 72 hours
before said meeting at 22 Civic Center Plaza, Santa Ana,
California, a location freely accessible to members of the
public, and a brief description of said resolution appeared on
said agenda.
Notice of said meeting was delivered to each member of
the Governing Board of the Authority at least 24 hours before
said meeting.
I have carefully compared the foregoing with the
original minutes of said meeting on file and of record in my~
office, and the foregoing is a full, true and correct copy of the
original resolution adopted at said meeting and entered in said
minutes.
Said resolution has not been amended, modified or
rescinded since the date of its adoption and the same is now in
full force and effect.
Dated: December 20 , 1993.