HomeMy WebLinkAbout89-104RESOLUTION NO. 89-104
RESOLUTION OF THE CITY COUNCIL OF THE ,CITY OF
SANTA ANA APPROVING THE ISSUANCE OF TAX
.~LT.OCATION REFUNDING BONDS BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA
TO REFUND 1985 TAX ALLOCATION BONDS, SERIES A
THROUGH D
WNP..REAS, the Community Redevelopment Agency of the City of Santa Ana (the
'Agency') has previously issued its Santa Aha Inter-City Comm,zter Station
Redevelopment Project Area, Tax Allocation Bonds, 1985 Series A in the aggregate
principal amount of $8,000,000 (the "Series A Bonds'), its City of Santa Aha
Redevelopment Project Area, Tax Allocation Bonds, 1985 Series B in the aggregate
principal -mount of $63,850,000 (the 'Series B Bonds'), its Santa Aha South Harbor
Boulevard/Fairview Street Redevelopment Project Area, Tax Allocation Bonds, 1985
Series C in the aggregate principal amount of $13,650,000 (the 'Series C Bonds'), and its
Santa Aha South Main Street Redevelopment Project Area, Tax Allocation Bonds, 1985
Series D, in the aggregate principal amount of $13,000,000 (the 'Series D Bonds'); and
WNE~, the Series A Bonds, the Series B Bonds, the Series C Bonds and the
Series D Bonds (collectively, the '1985 Bonds~) are subject to mandatory tender on
December 15, 1990, and the Agency wishes at this time to issue four separate series of its
tax allocation refunding bonds (collectively, the ~Bonds') in an aggregate principal
~mount s~,~cient to refund all of the outstanding 1985 Bonds, pursuant to the
Connn~mlty Redevelopment Law and pursuant to the provisions of Artlcle 11 of Chapter 3
of Part 2 of Division 2 of Title 5 of the Government Code of the State of California, for the
purpose of providing funds to retire all of the outstanding 1985 Bonds on December 15,
1990; and
WI:rE~, in accordance with the requirements of Section 33640 of the
Csli¢ornia Health and Safety Code, the City Council wishes at this time to approve the
issuance of the Bonds by the Agency;
RESOLUTION 89-104
PAGE 2 ' · 101
NOW, TH s:P-~FORE, BE IT RESOLVED, DETERMINED AND OI~DERED by
the City Council of the City of Santa Ana that the issuance of the Bonds by the Agency
be and is hereby approved.
ADOPTED this 16th day of October, 1989.
DANIEL H. YOUNG, MAYOR
ATTEST:
Clerk of the Councn /
COUNCILMEMBERS:
Young
Acosta
Griset
May
McGuigan
Norton
Pulido
Aye
AA~ent
Aye
Aye
A~/e
Aye
APPROVED AS TO FORM
City Attorney
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