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<br /> <br /> <br /> <br /> RESOLUTION NO. SAFA- 2010- <br /> <br /> A RESOLUTION OF THE GOVERNING BOARD OF THE <br /> SANTA ANA FINANCING AUTHORITY AUTHORIZING THE <br /> PURCHASE AND SALE OF TAX ALLOCATION BONDS OF <br /> THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br /> CITY OF SANTA ANA ISSUED TO FINANCE <br /> REDEVELOPMENT ACTIVITIES WITHIN OR FOR THE <br /> BENEFIT OF THE AGENCY'S MERGED PROJECT AREA <br /> AND APPROVING RELATED DOCUMENTS AND <br /> ACTIONS. <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 City of Santa Ana (the "City") and the Community Redevelopment <br /> Agency of the City of Santa Ana (the "Agency") have heretofore entered <br /> into a Joint Exercise of Powers Agreement, dated as of August 1, 1993, <br /> establishing the Authority for the purpose, among others, of issuing its <br /> bonds to be used to provide financial assistance to the City and to the <br /> Agency; <br /> B. the Agency is a public body, corporate and politic, duly established and <br /> authorized to transact business and exercise powers under and pursuant <br /> to the provisions of the Community Redevelopment Law of the State of <br /> California, constituting Part 1 of Division 24 of the California Health and <br /> Safety Code (the "Law"), including the power to issue 2010 Bonds for any <br /> of its corporate purposes; <br /> C. the Agency adopted six redevelopment project areas between 1973 and <br /> 1989, including the Central City Redevelopment Project Area, the Inter- <br /> City Commuter Station Redevelopment Project Area, the North Harbor <br /> Boulevard Redevelopment Project Area, the South Harbor <br /> Boulevard/Fairview Street Redevelopment Project Area, the South Main <br /> Street Redevelopment Project Area, and the Bristol Corridor <br /> Redevelopment Project Area (the "constituent Redevelopment Projects" or <br /> "Redevelopment Projects"); <br /> D. to allow tax increment revenues to be shared between Redevelopment <br /> Projects and thereby facilitate redevelopment of the Redevelopment <br /> Projects, the Redevelopment Projects were merged in 2004 in compliance <br /> with all requirements of the Law, creating the Merged Project Area; <br /> Resolution No. SAFA 2010- <br /> 4-5 Page 1 of 2 <br />