HomeMy WebLinkAbout1998-002 SAFA SANTA AIWA FINANCING AUTHORITY
RESOLU'I~ON NO. 9 8-0 0 2 -SAFA
RESOLUTION APPROVING REVISED BOND FINANCING
DOCUMENTS AND AUTHORIZING AND DIRECTING ACTIONS WITH
RESOLVED, by the Board of Directors (the "Board") of the Santa Ana Financing
Authority (the "Authority"), as follows:
WHEREAS, on April 6, 1998, the Board adopted a resolution entitled "Resolution
Authorizing Issuance of Revenue Bonds, Approving, and Authorizing and Directing Execution
of Certain Lease and Bond Financing Documents and Authorizing and Directing Actions with
Respect Thereto" (the "Prior Resolution"), which Prior Resolution approved various documents
related to, and authorized the issuance of, two series of revenue bonds of the Authority (the
"Bonds") in an aggregate principal amount of not to exceed $95,000,000; and
WHEREAS, in connection with the marketing of the Bonds for sale to investors, it was
determined that it would be advantageous to the Authority to issue the Bonds in three separate
series, and the documents approved by the Prior Resolution have been received accordingly;
and
WHEREAS, the revised documents listed below are on file with the Secretary, and the
Board, with the assistance of staff of the City of Santa Ana and the Community
Redevelopment Agency of the City of Santa Aha (the "Agency"), has reviewed said documents
and now desires to approve them so that the Bonds can be delivered to the purchasers thereof
as contemplated by the documents.
NOW, THEREFORE, it is hereby DECLARED, ORDERED and DETERMINED as
follows:
Section 1. Additional Series of Bonds. The Board hereby authorizes the issuance of the
Bonds in three series, as set forth on the revised Indenture of Trust referenced below, in an
aggregate principal amount not in excess of the authorized amount set forth in the Prior
Resolution.
Section 2. Approval of Revised Documents. The below-enumerated documents, in the
revised forms on file with the Secretary, be and are hereby approved, and the Chairman, the
Executive Director or the Treasurer is hereby authorized and directed to execute and deliver, for
and on behalf of the Authority, said documents in such revised form together with such
changes, insertions or deletions as may be approved by the official executing such documents
upon consultation with the Authority's general counsel and Bond Counsel, the approval thereof
to be conclusively evidenced by the execution and delivery by the Authority, of the respective
documents. The Secretary, is hereby authorized and directed to attest such official's signature to
such documents, where indicated by any such document.
(a) Indenture of Trust, between the Authority and Dai-Ichi Kangyo Bank of
California, as trustee (the "Trustee");
(b) Assignment Agreement -1989 Bonds, among the Agency, the Authority and
the Trustee;
(c) Interim Lease Agreement, between the Authority, as lessor, and the City, as
lessee;
(d) Lease Agreement, between the Authority, as lessor, and the City, as lessee;
and
(e) Continuing Disclosure Certificate - Authority, by the Authority and as
acknowledged by the Trustee.
Section 3. Bond Purchase Agreement, Preliminary Official Statement. The Authority
hereby ratifies the Bond Purchase Agreement heretofore executed by the Authority in connection
with the sale of the Bonds and the Preliminary Official Statement describing the financing in the
form distributed to prospective Bond purchasers.
Section 4. Official Actions. The Chairman, the Executive Director, the Treasurer, the
Secretary, the Authority Counsel and any and all other officers of the Authority are hereby
authorized and directed, for and in the name and on behalf of the Authority, to do any and all
things and take any and all actions, including execution and delivery of any and all
assignments, certificates, requisitions, agreements notices, consents, instruments of conveyance,
warrants and other documents, which they, or any of them, may deem necessary or advisable in
order to consummate the issuance and sale of the Bonds and any of the other transactions
contemplated by the documents approved pursuant to this Resolution. Whenever in this
Resolution any officer of the Authority is authorized to execute or countersign any document or
take any action, such execution, countersigning or action may be taken on behalf of such officer
by any person designated by such officer to act on his or her behalf in the case such officer shall
be absent or unavailable.
SectiOn 5. Prior Resolution. Except as modified by this Resolution, the Prior Resolution is
hereby affirmed.
Section 6. Effective Date. This Resolution shall take effect upon its adoption by the
Board.
PASSED, APPROVED AND ADOPTED this 18th day of May, 1998.
By
// Chairman, Mlguel A. Pulido
A-/Santa Ana Financing Authority
S~n~,,- Secretary, Jan C .~ Guy
ta Aha Financing Authority
I, the undersigned Secretary of the Santa Ana Financing Authority, hereby certify that
the foregoing is a full, true and correct copy of a resolution duly adopted by the Board of
Directors of the Authority at a meeting thereof on the 18th day of May, 1998, by the following
vote of the members thereof:
AYES:
Espinoza, Franklin, Lutz, Moreno, Pulido, Richardson
NOES:
None
ABSTAIN: None
ABSENT: McGuigan
19022.01:J3723
5/4/98
RESOLUTION NO. 98-002 SAFA
CERTII~ICATE OF ORIGINALITY & PUBLICATION
State of California
County of Orange
I, JANICE C. GUY, Authority Secretary, do hereby certify the attached Resolution No.
~ -oo~- .9/P'~ to be the pri~nal resolution adopted by the Santa Ana Financing Authority of the
City of Santa Ana on ~C,//F/f F .
Date:
~uthority gecretary/ff
City of Santa Aha