HomeMy WebLinkAbout1981-146 CRA
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7390B
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12/14/81
RESOLUTION NO. 81-146
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 (McCULLOCH'S BUILDINGS)
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 (McCulloch's
Buildings) 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 in said Agreement is
hereby approved.
3. That that certa in P1 edge Agreement re 1 at i ng to the investment of
proceeds of the Secured Promi ssory Note referenced in paragraph 1 above. whi ch
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
Execut i ve Di rector be and is 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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ADOPTED, this 15th day of December, 1981, by the following vote:
AYES, MEMBERS: &~~ ~.r..~ J..._....-,4~ ~..h;
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NOES, MEMBERS: /?~¿,/
ABSENT, MEMBERS:~~""
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/' Cha i rman
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ecu ive Director
APPROVED AS TO FORM:
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City Attor y