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EXHIBIT 1 <br /> 200/202 West Washington Avenue, (xxviii) 201 West Washington Avenue, and (xxix) 207 <br /> West Washington Avenue (the "Project"), to be owned or leased, and operated by the <br /> Borrower; 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 because the Project is to be located within the <br /> territorial limits of the City; and <br /> WHEREAS, the City Council is the elected legislative body of the City and meets <br /> the definition of "applicable elected representative" of the City (as defined in Section <br /> 147(f)(2)(E) of the Code) authorized to provide issuer and host approval of the issuance <br /> of the Bonds under Section 147(f) of the Code; and <br /> WHEREAS, the Authority has requested that the City Council approve the <br /> issuance of the Bonds by the Authority in order to satisfy the public approval requirement <br /> of Section 147(f) of the Code and the requirements of Section 4 of the Agreement; 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 no <br /> comments were received, and now desires to approve the issuance of the Bonds by the <br /> Authority. <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA ANA <br /> RESOLVES AS FOLLOWS: <br /> Section 1. The City Council hereby approves the issuance of the Bonds by the <br /> Authority. It is the purpose and intent of the City Council that this resolution constitute <br /> issuer and host approval of the issuance of the Bonds by the Authority, for the purposes <br /> of (a) Section 147(f) of the Code by the applicable elected representative of the <br /> governmental unit having jurisdiction over the area in which the Project is to be located, <br /> in accordance with said Section 147(f) and (b) Section 4 of the Agreement. <br /> Section 2. The payment of the principal, premium, if any, and interest on the Bonds <br /> shall be solely the responsibility of the Borrower. The City shall have no responsibility or <br /> liability whatsoever with respect to the Bonds. The Bonds shall not constitute a debt or <br /> obligation of the City. <br /> Section 3. The adoption of this Resolution shall not obligate the City or any <br /> department thereof to (i) provide any financing to acquire or construct the Project; (ii) <br /> approve any application or request for or take any other action in connection with any <br /> planning approval, permit or other action necessary to the Project; (iii) make any <br /> contribution or advance any funds whatsoever to the Authority; or (iv) take any further <br /> action with respect to the Authority or its membership therein. <br /> Section 4. The officers and officials of the City are hereby authorized and directed, <br /> jointly and severally, to do any and all things and to execute and deliver any and all <br /> Resolution No. 2026-XXX <br /> Page 2 of 4 <br />