HomeMy WebLinkAbout1980-039 CRA
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3/12/80
RESOLUTION NO. 80-39
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA DECLARING
ITS INTENTION TO AUTHORIZE THE ISSUANCE OF
BONDS FOR THE PURPOSE OF PROVIDING PERMANENT
FINANCING FOR COMMERCIAL STRUCTURES TO BE
CONSTRUCTED BY CERTAIN NAMED DEVELOPERS
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana is authorized by Chapter 8 (commencing
with S 33750) of Part I, Division 24 of the California
Health and Safety Code (The "Act") to issue and sell its
bonds for the purpose of providing permanent financing for
the construction of new commercial structures located within
the redevelopment project area; and
WHEREAS, the below named developers have requested
the Community Redevelopment Agency of the City of Santa Ana
to issue and sell its bonds for the purpose of providing
permanent financing for certain commercial facilities to be
constructed and developed by said developers within the
redevelopment project area, and said Agency desires to
induce said developers to construct and develop said
commercial facilities in said area; and
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WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana desires to declare its intention to
authorize the issuance and sale of its bonds pursuant to the
Act for the purpose of providing permanent financing for
said commercial facilities, when so requested by said
developers, upon such terms and conditions as may then be
agreed upon by the Agency, the developers and the purchasers
of said bonds.
NOW, THEREFORE, BE IT RESOLVED by the Community
Redevelopment Agency of the City of Santa Ana as follows:
1. That the Community Redevelopment Agency of
the City of Santa Ana does hereby declare its intention to
authorize the issuance and sale of a separate and distinct
bond issue for each of the below named developers in an
amount not to exceed ten million dollars ($10,000,000.00)
each for the purposes of providing permanent financing to
each of the below named developers for the acquisition,
construction and development of commercial structures within
the redevelopment project area:
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Developers
a.
b.
c.
d.
e.
f.
g.
h.
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j.
k.
1.
m.
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n.
Ralph Allen
Ross and Fifth Development Company
Santa Ana City Employees Credit Union
Allen Elrod
Allen Fainbarg
Jones Development Corporation
Steven J. Keiser
Philip Megdal
Mohler-Vista
Rudolfo Montejano
Stephen L. Philipson
American National properties
Dumex Corporation dba
Heritage Development Company
Warren K. Van Ingan, Pete Van Ruiten
and Mary Van Ruiten
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RESOLUTION NO. 80-39
PAGE TWO
2. That the issuance and sale of said bonds
shall be upon such terms and conditions as may be mutually
agreed upon by the Agency, the tleveloper and the purchaser
of said bonds and shall be authorized by resolution of the
Agency at a meeting duly held and conducted for such
purpose.
3. That the proceeds of the bonds shall include
such related and necessary issuance expenses, administrative
costs, debt service reserves and interest payments as may be
required to successfully accomplish the financing.
ADOPTED this 21st day of
the following vote: -----
Apr il
, 1980, by
MEMBERS: Bricken, Griset, Luxembourger,
Serrato, Yamamoto
MEMBERS: Markel
AYES:
NOES:
ABSENT: MEMBERS: ~one
ABSTAINED:MEMBERS: Ward
ULJ
VICE CHAIRMAN
ATTEST:
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Executive Director/
Recording Secretary
APPROVED AS TO FORM:
14>::?
'KEITH L. GOW
Agency Legal Counsel
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