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<br />\ <br /> <br />RESOLUTION NO. -2.L <br /> <br />". <br /> <br />RESOLUTION OF THE CITY OF SANTA ANA <br />COMMUNITY REDEVELOPMENT AGENCY AWARDING <br />$l9,000,000 SOUTH MAIN STREET REDEVELOPMENT <br />PROJECT TAX ALLOCATION BONDS 1984 TO THE <br />BEST BIDDER AND REJECTING ALL OTHER BIDS <br /> <br />WHEREAS, at the time and pI ace fixed for the opening of <br />bids for the tax allocation notes of the City of Santa Ana <br />Community Redevelopment Agency in a principal amount of <br />$l9,000,000, designated CITY OF SANTA ANA COMMUNITY <br />REDEVELOPMENT AGENCY SOUTH MAIN STREET REDEVELOPMENT PROJECT <br />TAX ALLOCATION BONDS 1984 (the "Bonds"), all bids were publicly <br />opened, examined and read, and a tabulation thereof has been <br />entered in the minutes; and <br /> <br />WHEREAS, the bid of the bidder hereinafter named is the <br />best bid made by a responsible bidder for the Bonds; <br /> <br />. <br /> <br />NOW, THEREFORE, the City of Santa Ana Community <br />Redevelopment Agency DOES HEREBY RESOLVE, DETERMINE AND ORDER <br />as follows: <br /> <br />SECTION l. That the bid of Merrill Lynch Capital Markets, <br />Merrill Lynch Pierce Fenner & Smith, Inc. offering $18,050,000, <br />pIus accrued interest to date of delivery for said Bonds <br />bearing interest payable semi-annually at the rate or rates per <br />annum and maturing on the dates set forth in the fol1owing <br />table is the best bid for the Bonds yielding the lowest net <br />interest cost. Said bid is hereby accepted and the Bonds <br />awarded to said best bidder in accordance with the terms of the <br />proposal and any irregularities with respect to said bid are <br />hereby waived. <br /> <br /> Maturity Date Principal Interest <br /> December 1 Amount Rate <br /> 1985 $ l25,000 9.00% <br /> 1986 l35,000 9.00% <br /> 1987 145,000 9.00% <br /> 1988 l55,000 9.00% <br />. 1989 1 70 ,0 00 9".00% <br />1990 185,000 9.00% <br /> 1991 200,000 9.00% <br /> 1992 215,000 9.00% <br /> 1993 235,000 9.00% <br /> 1994 260,000 9.00% <br /> 1995 285,000 9.20% <br />