HomeMy WebLinkAbout1979-05 HA
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EJC:ar
11/27/79
RESOLUTION NO. 79-S'
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A RESOLUTION OF THE HOUSING AUTHORITY
OF THE CITY OF SANTA ANA
CANCELLING A LOST PROMISSORY NOTE
AND AUTHORIZING EXECUTION OF A
SUBSTITUTE PROMISSORY NOTE
WHEREAS, on October 1, 1979, the Housing Authority
of the City of Santa Ana authorized execution of a promis-
sory note in favor of United California Bank, a charter bank
of the State of California ("UCB") in the amount of One
Hundred Thousand Dollars ($100,000.00), pursuant to that
certain agreement entitled "Loan Origination and Servicing
and Revolving Credit Agreement for the Santa Ana Housing
Rehabilitation Loan Program," form dated September 1, 1978,
a copy of which is on file in the office of the Recording
Secretary of the Housing Authority¡ and
WHEREAS, said promissory note was duly executed
but not delivered to UCB and subsequently became lost¡ and
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WHEREAS, the Housing Authority of the City of
Santa Ana now desires to cancel said promissory note dated
October 1, 1979, giving notice thereof by this Resolution,
and authorizing execution of a new and different promissory
note in its place.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING
AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. The the promissory note executed by the Hous-
ing Authority of the City of Santa Ana in favor of United
California Bank in the amount of One Hundred Thousand
Dolalrs ($100,000), dated October 1, 1979, but not delivered,
be, and is hereby declared, cancelled and void as a lost
instrument.
2. That the Chairman of the Housing Authority of
the City of Santa Ana is hereby authorized to execute on
behalf of said Housing Authority a substitute promissory
note in favor of United California Bank in the amount of One
Hundred Thousand Dollars ($100,000.00), dated December 3,
1979.
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copy of
October
3. That the Executive Director shall deliver a
this resolution cancelling the promissory note dated
1, 1979, to UCB as notice of said cancellation.
ADOPTED, this
by the following vote:
, day of
, 1979,
AYES:
MEMBERS:
NOES:
MEMBERS:
ABSENT:
MEMBERS:
CHAIRMAN
ATTEST:
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SECRETARY
APP:Z¡ TO FORM:
~TH :. ~ Coun,,'
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