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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />.. <br /> <br />DMF/fm <br />12/30/80 <br /> <br />. <br /> <br />. <br /> <br />.A .>.., <br /> <br />RESOLUTION NO. 81-1 <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA AUTHORIZING LETTER AGREE- <br />MENT BETWEEN AUTHORITY AND UNITED CALIFORNIA <br />BANK <br /> <br />WHEREAS, by agreement, form dated July 2,1979, <br />between the Housing Authority of the City of Santa Ana <br />("Authority") and United California Bank ("UCB") entitled <br />"Housing Replacement Program Financing Agreement," UCB <br />agreed to loan funds to Authority upon Authority's execution <br />of an approved promissory note, and <br /> <br />WHEREAS, said agreement was incorporated by <br />reference in a subsequent agreement betweeen Authority and <br />UCB, form dated May 6, 1980, entitled "Loan Service and <br />Revolving Credit Agreement" in which the credit line for the <br />loan funds was extended, and <br /> <br />WHEREAS, Authority and Bank have agreed by letter, <br />form dated December 24,1980, to the acceptance by UCB of <br />promissory notes executed by Authority to evidence Authority's <br />indebtedness for funds loaned by UCB for financing the <br />rehabilitation of residences under the Housing Replacement <br />Program. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Housing <br />Authority of the City of Santa Ana that the letter of under- <br />standing, form dated December 24,1980 and executed by <br />United California Bank and the Executive Director of the <br />Housing Authority, is hereby ratified. <br /> <br />ADOPTED, this ~ day of <br />by the following vote: <br /> <br />January <br /> <br />, 19~, <br /> <br />AYES: <br /> <br />MEMBERS: <br /> <br />Serrato, Yamamoto, Ward, Griset, and <br />Luxembourger <br />None <br /> <br />NOES: <br /> <br />MEMBERS: <br /> <br /> <br />ABSENT: <br /> <br />APPROVED AS TO FORM: <br /> <br />£b:!jJ.r <br /> <br />City A,ttorney <br />