HomeMy WebLinkAbout1981-103 CRA
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10/13/81
RESOLUTION NO. 81-103
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF: SANTA ANA AUTHORIZI~G
THE ISSUANCE OF NOTES FOR THE PURPOSE OF
PROVIDING FINANCING FOR THE REHABILITATION
OF COMMERCIAL STRUCTURES BY STEVEN J. AND
PAULA B. KEISER
WHEREAS, the Agency is authorized by Community
Redevelopment Law (the "Law") to issue and sell its notes
for the purpose of providing permanent financing for the
rehabilitation of commercial structures located within a
redevelopment project area of the Agency;
WHEREAS, Steven J. and Paula B. Keiser (the
"Developer") have requested the Agency to issue and sell its
notes for the purpose of providing financing for the
rehabilitation of certain retail commercial facilities to be
constructed and developed by the Developers within a
redevelopment project area of the Agency and the Agency
wishes to induce the Developers to construct and develop
said commercial facilities in said area; and
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WHEREAS, it is the public interest, for public
benefit and in furtherance of the public purposes of the
Agency that the Agency authorize bonds for the aforesaid
purposes;
NOW, THEREFORE, BE IT'RESOL~ED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. The community Redevelopment Agency of the
City of Santa Ana hereby authorizes the issuance and sale of
notes of the Agency pursuant to the Law in a principal
amount of not to exceed Three Million Dollars ($3,000,000)
for the purpose of providing financing to the Developers for
the rehabilitation and development of retail and commercial
facilities and related improvements (the "project") to be
located at 414-416 West Fourth Street in the City of Santa
Ana.
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2. The issuance and sale of said notes shall be
upon such termS and conditions as may be mutually agreed
upon by the Agency, the Developers and the purchaser of said
notes and shall be subject to completion of proceedings for
issuance, sale and delivery by the Agency.
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RESOLUTION NO. 81-103
PAGE TWO
3. The proceeds of the notes referred to in
paragraph 1 shall include such related and necessary
issuance expense~, administrative costs, debt service
reserves and interest payments as may be required to
accomplish successfully the financing.
4. The Agency hereby finds that the issuance of
the notes as more particularly described herein is a
substantial inducement to the Developers to construct the
Project, and said Project will further the public purposes
of this Agency.
ADOPTED this 26th day of
by the following vote:-----
OCTOBER
,1981,
AYES:
MEMBERS: BRICKEN, GRISET, SERRATO, LUXEMBOURGER,
McGUIGAN
MEMBERS: MARKEL
NOES:
ABSENT:
MEMBERS: ACOSTA
ATTEST:
APPROVED AS TO FORM:
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EDWARD J. COPE
AGENCY LEGAL COU L
{t?¡ jJ ~
GORDON BRICKEN
CHAIRMAN