HomeMy WebLinkAbout89-071RESOLUTION NO. ~o71
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING THE ISSUANCE OF NOT TO EXCEED
i~ $21,000,000 PRINCIPAL AMOUNT OF TAX ALLOCATION
REFUNDING BONDS BY THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA
W~E.n.~.AS, the Community Redevelopment Agency of the City of Santa Aha (the
'Agency~) has previously issued its City of Santa Aha Comr~tl~ity Redevelopment
Agency, City of Santa Aha Redevelopment Project Area, Tax Allocation Refunding Bonds,
1985 Series E, dated as of December 15, 1985, (the 'Series E Bonds') for the purpose of
providing funds to pay the obligations of the Agency under the Participation Agreement
between the Agency and Santa Aha Venture relating to the Main_Place Project within the
City of Santa Ana Redevelopment Project; and
WI~.RF_J~, the Series E Bonds are subject to redemption or mandatory tender on
December 15, 1989, and the Agency wishes at this ~me to issue its City of Santa Aha
Redevelopment Project 1989 Tax Allocation Refunding Bonds (MainPlace Project) in the
aggregate principal amount of not to exceed $21,000,000 (the 'Bonds') pursuant to the
Comm~mi~,y Redevelopment Law and pursuant to the provisions of Article 11 of Chapter 3
of Part 2 of Division 2 of Titie 5 of the Govar~ment Code of the State of California, for the
purpose of providing funds to retire ail of the outstanding Series E Bonds on December
15, 1989; and
WI~.~F. AS, in accordance with the requirements of Section 33640 of the
CRllrornia Health and Safety Code, the City Council wishes at ,~l~i.~ time to approve the
issuance of the Bonds by the Agency;
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NOW, TI~EREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by
the City Council of the City of Santa Ana that the issuance of the Bonds by the Agency
be and is hereby approved.
.... AI)OI~rED this 17th day of July · ', 1989.
ATTEST:
Clerk of the Co¥,~il
COUNCILMEMBERS:
Young Aye
Acosta Aye
Griset Aye
May Aye
McGuigan Aye
Norton Aye
Pulido Aye
APPROVED AS TO FORM
City Attorney
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