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RESOLUTION NO. 2025-014 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> SANTA ANA APPROVING THE ISSUANCE BY THE <br /> CALIFORNIA MUNICIPAL FINANCE AUTHORITY OF <br /> EXEMPT FACILITY BONDS FOR ESTRELLA SPRINGS <br /> WHEREAS, North Harbor Housing Partners LP (the "Borrower") a partnership of <br /> which Jamboree Housing Corporation(the"Developer")or a related person to the Developer <br /> is the general partner, has requested that the California Municipal Finance Authority (the <br /> "Authority") adopt a plan of financing providing for the issuance of exempt facility bonds for <br /> a qualified residential rental project pursuant to Section 142(a)(7) of the Internal Revenue <br /> Code of 1986 (the "Code") in one or more series issued from time to time, including bonds <br /> issued to refund such exempt facility bonds in one or more series from time to time, and at <br /> no time to exceed $30,000,000 in aggregate principal amount (the "Bonds"), to finance or <br /> refinance the acquisition, construction, improvement and equipping of a multifamily rental <br /> housing project located at 1108 North Harbor Boulevard, Santa Ana, California (the <br /> "Project"); and <br /> WHEREAS, pursuant to Section 147(f) of the Code, the issuance of the Bonds by <br /> the Authority must be approved by the City of Santa Ana (the "City") because the Project is <br /> located within the territorial limits of the City; and <br /> WHEREAS, the City Council of the City (the "City Council") is the elected legislative <br /> body of the City and is one of the "applicable elected representatives" required to approve <br /> the issuance of the Bonds under Section 147(f) of the Code; and <br /> WHEREAS, the Authority has requested that the City Council approve the issuance <br /> of the Bonds by the Authority in order to satisfy the public approval requirement of Section <br /> 147(f) of the Code and the requirements of Section 4 of the Joint Exercise of Powers <br /> Agreement Relating to the California Municipal Finance Authority, dated as of January 1, <br /> 2004 (the "Agreement"), among certain local agencies, including the City, and <br /> WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following <br /> notice duly given, held a public hearing regarding the issuance of the Bonds, and now <br /> desires to approve the issuance of the Bonds by the Authority. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br /> FOLLOWS: <br /> Section 1. The recitals set forth herein are true and correct. <br /> Resolution No. 2025-014 <br /> Page 1 of 3 <br />