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RESOLUTION NO. 94- 001-SAFA <br /> <br />APPROVING THE FORMS OF AND AUTHORIZING THE <br />EXECUTION AND DELIVERY BY THE AUTHORITY OF A <br />GROUND LEASE, A LEASE, AN INDENTURE, AN <br />ASSIGNMENT AGREEMENT AND A PURCHASE CONTRACT <br />WITH RESPECT TO THE EXECUTION AND SALE OF <br />SANTA ANA FINANCING AUTHORITY POLICE <br />ADMINISTRATION AND HOLDING FACILITY LEASE <br />REVENUE BONDS, SERIES 1994A, AUTHORIZING THE <br />EXECUTION OF SUCH BONDS IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED <br />$110,000,000, AUTHORIZING THE DISTRIBUTION OF <br />AM OFFICIAL STATEMENT IN CONNECTION THEREWITH, <br />AUTHORIZING AND APPROVING EXECUTION OF NECESSARY <br />DOCUMENTS AMD RELATED ACTIONS. <br /> <br /> WHEREAS, the Santa Ana Financing Authority (the <br />"Authority") is a joint powers authority duly created, <br />established and authorized to transact business and exercise its <br />powers, all under and pursuant to Articles 1, 2 and 4 of Chapter <br />5 of Title 1 of the Government Code of the State of California <br />(the "Law"); and <br /> <br /> WHEREAS, the city of Santa Ana (the "City") is a <br />municipal corporation duly organized and existing under the <br />Constitution and laws of the State of California; and <br /> <br /> WHEREAS, the City has determined to lease certain real <br />property (the "Parcels") to the Authority pursuant to a Ground <br />Lease, dated as of March 1, 1994 (the "Ground Lease"); and <br /> <br /> WHEREAS, the Authority has determined to sublease the <br />Parcels and certain improvements thereon and to be constructed <br />thereon, to the City pursuant to a Lease, dated as of March 1, <br />1994 (the "Lease") under the terms of which the City, as agent of <br />the Authority, agrees to cause the acquisition and construction <br />of certain police facilities and related improvements (the <br />"Project"); and <br /> <br /> WHEREAS, the City, pursuant to the Lease, is required <br />to make certain base rental payments to the Authority; and <br /> <br /> WHEREAS, the Authority and the City have determined to <br />enter into an Indenture, dated as of March 1, 1994 (the <br />"Indenture") with Meridian Trust Company of California (the <br />"Trustee") pursuant to which lease revenue bonds (referred to <br />herein as the "Bonds") in an aggregate principal amount not to <br />exceed $110,000,000 will be issued; and <br /> <br /> WHEREAS, the Authority will transfer its rights, title <br />and interest in and to the Lease and the Ground Lease (other than <br /> <br /> <br />