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<br />F8977
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<br />RESOLUTION NO. 89-15
<br />
<br />RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY
<br />OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF
<br />1989 TAX ALLOCATION REFUNDING BONDS (1985 SERIES A
<br />THROUGH D BONDS), APPROVING INDENTURES OF TRUST
<br />RELATING THERETO, AUTHORIZING SALE OF SUCH BONDS,
<br />APPROVING SUBSTITUTION OF REMARKETING AGENT AND
<br />OFFICIAL STATEMENT, AND AUTHORIZING OFFICIAL ACTION
<br />
<br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana (the
<br />"Agency") has previously issued its Santa Ana Inter-City Commuter Station
<br />Redevelopment Project Area, Tax Allocation Bonds, 1985 Series A in the aggregate
<br />principal amount of $8,000,000 (the "Series A Bonds"), its City of Santa Ana
<br />Redevelopment Project Area, Tax Allocation Bonds, 1985 Series B in the aggregate
<br />principal amount of $63,850,000 (the "Series B Bonds"), its Santa Ana South Harbor
<br />BoulevardlFairview Street Redevelopment Project Area, Tax Allocation Bonds, 1985
<br />Series C in the aggregate principal amount of $13,650,000 (the "Series C Bonds"), and its
<br />Santa Ana South Main Street Redevelopment Project Area, Tax Allocation Bonds, 1985
<br />Series D, in the aggregate principal amount of $13,000,000 (the "Series D Bonds"); and
<br />
<br />WHEREAS, the Series A Bonds, the Series B Bonds, the Series C Bonds and the
<br />Series D Bonds (collectively, the "1985 Bonds") are subject to mandatory tender on
<br />December 15, 1990, and the Agency wishes at this time to issue four separate series of its
<br />tax allocation refunding bonds in an aggregate principal amount sufficient to refund the
<br />1985 Bonds in full (the "Bonds"), pursuant to the Community Redevelopment Law and
<br />pursuant to the provisions of Article 11 of Chapter 3 of Part 2 of Division 2 of Title 5 of
<br />the Government Code of the State of California (the "Bond Law"), for the purpose of
<br />providing funds to retire all of the outstanding 1985 Bonds on December 15, 1990; and
<br />
<br />WHEREAS, each issue of the Bonds is proposed to be issued pursuant to a
<br />separate Indenture of Trust (collectively, the "Indentures") dated as of November 1,1989,
<br />by and between the Agency and Dai-Ichi Kangyo Bank of California as trustee; and
<br />
<br />WHEREAS, the firm of Donaldson, Lufkin & Jenrette Securities Corporation and
<br />Goldman, Sachs & Co. (the "Underwriters") have informed the Agency that they intend to
<br />submit an offer to purchase the Bonds, and in connection therewith the Underwriters
<br />have caused to be prepared an Official Statement describing the Bonds, the preliminary
<br />form of which is on file with the Secretary; and
<br />
<br />WHEREAS, the Agency wishes at this time to approve said transactions in the
<br />public interests of the Agency;
<br />
<br />NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment
<br />Agency of the City of Santa Ana as follows:
<br />
<br />I~
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<br />4B
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