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RESOLUTION NO. SAFA- 2010-001 <br />A RESOLUTION OF THE GOVERNING BOARD OF THE <br />SANTA ANA FINANCING AUTHORITY ESTABLISHING <br />THE REGULAR MEETINGS OF THE AUTHORITY FOR <br />FISCAL YEAR 2010-2011. <br />BE IT RESOLVED BY THE SANTA ANA FINANCING AUTHORITY AS <br />FOLLOWS: <br />Section 1. The Governing Board of the Santa Ana Financing Authority hereby <br />finds, determines and declares as follows: <br />A. The Authority is a public agency duly organized and existing pursuant to a <br />Joint Exercise of Powers Agreement (the "JPA Agreement"), dated August <br />1, 1993, by and between the City of Santa Ana (the "City") and the <br />Community Redevelopment Agency of the City of Santa Ana (the <br />"Agency"); <br />B. The Authority is governed by a board of directors comprised of the seven <br />member City Council of the City; <br />C. The Authority is statutorily authorized by Article 4 of Chapter 5 of Division <br />7 of Title 1 of the California Government Code and is empowered under <br />the JPA agreement to issue its bonds to, among other things, provide <br />financial assistance to the City and/or the Agency; <br />D. Section 6592.1 of the California Government Code, newly effective as of <br />January 1, 2010, provides that a resolution authorizing bonds or any <br />issuance of bonds or accepting the benefit of any bonds or the proceeds <br />of bonds must be adopted by the Authority only during a regular meeting; <br />E. To provide flexibility for the Authority to adopt resolutions for the issuance <br />of bonds when expedient, it is necessary and appropriate to establish <br />regular meeting dates for the Authority for Fiscal Year 2010-2011. <br />Section 2. The Authority hereby determines that November 15, 2010, <br />December 6, 2010, and December 20, 2010 shall be established as regular meeting <br />dates of the Authority for Fiscal Year 2010-2011, to be held in conjunction with regular <br />meetings of the City Council of the City. Such establishment of regular meeting dates <br />shall not preclude the calling of special meetings of the Authority, when necessary, for <br />purposes other than the adoption of resolutions for the issuance of bonds. <br />Section 3. This Resolution shall take effect immediately upon its adoption by <br />the Governing Board of the Authority, and the Secretary of the Authority shall attest to <br />Resolution No. SAFA 2010-001 <br />Page 1 of 2