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EXHIBIT 1 <br />RESOLUTION NO. 2025- XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE ISSUANCE BY THE <br />CALIFORNIA MUNICIPAL FINANCE AUTHORITY OF <br />EXEMPT FACILITY BONDS FOR ESTRELLA SPRINGS <br />WHEREAS, North Harbor Housing Partners LP (the "Borrower") a partnership of <br />which Jamboree Housing Corporation (the "Developer") or a related person to the Developer <br />is the general partner, has requested that the California Municipal Finance Authority (the <br />"Authority") adopt a plan of financing providing for the issuance of exempt facility bonds for <br />a qualified residential rental project pursuant to Section 142(a)(7) of the Internal Revenue <br />Code of 1986 (the "Code") in one or more series issued from time to time, including bonds <br />issued to refund such exempt facility bonds in one or more series from time to time, and at <br />no time to exceed $30,000,000 in aggregate principal amount (the "Bonds"), to finance or <br />refinance the acquisition, construction, improvement and equipping of a multifamily rental <br />housing project located at 1108 North Harbor Boulevard, Santa Ana, California (the <br />"Project"); and <br />WHEREAS, pursuant to Section 147(f) of the Code, the issuance of the Bonds by <br />the Authority must be approved by the City of Santa Ana (the "City") because the Project is <br />located within the territorial limits of the City; and <br />WHEREAS, the City Council of the City (the "City Council") is the elected legislative <br />body of the City and is one of the "applicable elected representatives" required to approve <br />the issuance of the Bonds under Section 147(f) of the Code; and <br />WHEREAS, the Authority has requested that the City Council approve the issuance <br />of the Bonds by the Authority in order to satisfy the public approval requirement of Section <br />147(f) of the Code and the requirements of Section 4 of the Joint Exercise of Powers <br />Agreement Relating to the California Municipal Finance Authority, dated as of January 1, <br />2004 (the "Agreement"), among certain local agencies, including the City; and <br />WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following <br />notice duly given, held a public hearing regarding the issuance of the Bonds, and now <br />desires to approve the issuance of the Bonds by the Authority. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The recitals set forth herein are true and correct. <br />Resolution No. 2025-XXX <br />Page 1 of 3 <br />