HomeMy WebLinkAbout1981-148 CRA
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12/14/81
RESOLUTION NO. 81-148
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF SANTA ANA APPROVING AND AUTHORIZING THE
EXECUTION OF A NOTE PURCHASE AGREEMENT RELATING TO
A SECURED PROMISSORY NOTE (PHILLIPS BLOCK)
BE IT RESOLVED, BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA
ANA AS FOLLOWS:
1. That that certain Note Purchase Agreeement relating to the Community
Redevelopment Agency of the City of Santa Ana Secured Promissory Note (Phillips
Block) in the principal amount of $1,000,000, which Agreement is dated December 15,
1981, and is to be entered into by and between Wells Fargo Bank, National
Association and this Agency be and is hereby approved and the Chairman be and is
hereby authorized and directed to execute said Agreement and the Executive Director
be and is hereby authorized and directed to attest to his signature.
2. That the payment of commi tment fee referenced i n sai d Agreement i s
hereby approved.
3. That that certain Pledge Agreement relating to the investment of
proceeds of the Secured Promissory Note referenced in paragraph 1 above, which
Agreement is dated December 21,1981, and is to be entered into by and between Wells
Fargo Bank, National Association and this Agency, be and is hereby approved and the
Chairman be and is hereby authorized and directed to execute said Agreement and the
Executi ve Di rector be and i s hereby authori zed and di rected to attest hi s
signature.
4. That the Chairman, Vice Chairman, Executive Director, Finance Officer
and Rehabilitation Program Coordinator of the Community Redevelopment Agency of the
City of Santa Ana be and are each hereby authorized and directed to execute and
deliver all certifications, receipts and other documents necessary to consummate
the transactions contemplated by the aforesaid Note Purchase Agreement and Pledge
Agreement.
5. This Resolution shall take effect from and after the date of its passage
and adoption.
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ADDPTED, this 15th day of December, 1981, by the following vote:
AYES, MEMBERS: .tho?....... 6",;r,../., k,.,..:>~ ArcV/oO.:,.
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NOES, MEMBERS: ~,¿,/
ABSENT, MEMBERS: .4/_#
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APPROVED AS TO FORM:
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