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2/28/78
RESOLUTION NO. 78-23
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA, CALIFORNIA, APPROVING THE
ISSUANCE OF $13,500,000, PRINCIPAL AMOUNT
OF TAX ALLOCATION BONDS OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA
ANA TO FINANCE A PORTION OF THE COST OF A
REDEVELOPMENT PROJECT IN SAID'CITY KNOWN
AS THE CITY OF SANTA ANA REDEVELOPMENT
PROJECT AREA
WHEREAS, the Community Redevelopment Agency of
the City of Santa Ana, is a redevelopment agency (a public
body, corporate and politic) duly created, established and
authorized to transact business and exercise its powers, all
under and pursuant to the Community Redevelopment Law (Part I
of Division 24 of the Health and Safety Code of the State of
California) and the powers of said agency include the power
to issue bonds for any of its corporate purposes; and
WHEREAS, a redevelopment plan for a redevelopment
project known and designated as "City of Santa Ana Redevelop-
ment Project Area" has been adopted and approved and all re-
quirements of law for, and precedent to, the adoption and
approval of said plan have been duly complied with; and
WHEREAS, the plan contemplates that the Agency will
issue its bonds to finance a portion of the cost of such re-
development;
WHEREAS, the Council has been informed by the Agency
that the Agency deems it necessary to issue tax allocation
bonds for the aforesaid purposes;
RESOLUTION NO. 78-23
Page Two
NOW THEREFORE BE IT RESOLVED by the City Council
of the City of Santa Ana as follows:
Section 1. The City Council hereby approves the
issuance of bonds by the Agency in the principal amount of
$13,500,000 designated "City of Santa Ana Redevelopment
Project Area, 1978 Tax Allocation Bonds."
Section 2.
adoption.
This Resolution shall effect upon
ADOPTED this 28th day of
by the following vote:
February , 1978,
AYES: COUNCILMEN: 0rtiz, Garthe, Bricken,
Evans, Brandt, Ward
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None
Yamamoto,
ATTEST:
CLERK OF THE COUNCIL
APPROVED AS TO FORM:
· _, ity Attorney
MAYOR