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Iss11 /2/10 <br />RESOLUTION NO. 2010 -XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA APPROVING THE ISSUANCE OF THE CALIFORNIA <br />MUNICIPAL FINANCE AUTHORITY REVENUE BONDS <br />(REGIONAL CENTER OF ORANGE COUNTY PROJECT), SERIES <br />2010 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED <br />$25,000,000 FOR THE PURPOSE OF FINANCING THE <br />ACQUISITION, REHABILITATION, IMPROVEMENT AND <br />EQUIPPING OF AN OFFICE BUILDING AND CERTAIN OTHER <br />MATTERS RELATING THERETO <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. Jake's LIFE, a California nonprofit public benefit corporation (the <br />"Borrower "), has requested that the California Municipal Finance Authority <br />(the "Authority ") participate in the issuance of revenue bonds, in one or <br />more series and at one or more times, in an aggregate principal amount <br />not to exceed $25,000,000 (the "Bonds "). The proceeds of the Bonds are <br />to be loaned by the Authority to the Borrower (or any successor thereto or <br />assign thereof), and applied by the Borrower for the purpose of financing <br />the acquisition, rehabilitation, improvement and equipping of certain real <br />property and improvements thereon (consisting of a building located within <br />the City of Santa Ana (the "City ") at 1525 North Tustin Avenue, Santa Ana, <br />California 92705) and to pay certain expenses incurred in connection with <br />the issuance of the Bonds (the "Project "). The principal tenant of the <br />Project will be the Regional Center of Orange County, Inc. ( "RCOC "), <br />which will use the Project primarily in the furtherance of its charitable <br />mission of coordinating services to individuals with developmental <br />disabilities; and <br />B. Pursuant to section 147(f) of the Internal Revenue Code of 1986 (the <br />"Code "), the issuance of the Bonds by the Authority must be approved by <br />the "applicable elected representatives" of the City because the Project is <br />located within the territorial limits of the City; and <br />C. The City Council of the City of Santa Ana (the "Council ") is the elected <br />legislative body of the City and so is the "applicable elected <br />representatives" qualified to hold a public hearing with respect to the <br />issuance of the bonds; and <br />Resolution No. 2010 -XXX <br />75B -3 Page 1 of 3 <br />