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ARA1995-15RESOLUTION NO. At~9 5-15 RESOL~ON OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING THE FORM OF AND AUTHORIZING THE ISSUANCE OF ITS ANAHEIM REDEVELOPMENT PROJECT ALPHA 1995 TAXABLE TAX ALLOCATION BONDS (HOUSING) AND APPROVING CERTAIN ACTIONS IN CONNECTION THEREWITH WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is a redevelopment agency (a public body, corporate and politic) duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law (Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California), and the powers of the Agency include the power to issue bonds or notes for any of its corporate purposes and to sell bonds subject to federal income taxation at negotiated sale pursuant to Government Code Section 5903; and WHEREAS, the Redevelopment Plan for a redevelopment project known and designated as the "Anaheim Redevelopment Project Area Alpha" has been adopted and approved by Ordinance No. 3190 of the City of Anaheim adopted on July 19, 1973, and subsequently amended from time to time, all requirements of law for and precedent to the adoption and approval of the Redevelopment Plan have been duly complied with; and WHEREAS, for the corporate purposes of the Agency, the Agency desires to issue tax allocation bonds in a principal amount of Two Million Seven Hundred Thousand Dollars ($2,700,000) (the "Bonds"), and intends to use the proceeds of such Bonds to finance a portion of the costs of implementing the Redevelopment Plan; and WHEREAS, the Agency now desires to authorize the execution of such documents and the performance of such acts as may be necessary or desirable to effect the issuance and sale of the Bonds. NOW, THEREFORE, BE 1T RESOLVED BY THE ANAHEIM REDEVELOPMENT AGENCY, AS FOLLOWS: Section 1. Issuance of Bonds; Approval of Indenture of Trust. The Agency hereby authorizes the issuance of the Bonds under and pursuant to the Redevelopment Law in the aggregate principal amount of $2,700,000. The Bonds shall be issued pursuant to the Indenture of Trust which is hereby approved by the Agency in substantially the form thereof on file with the Secretary together with any additions thereto or changes therein deemed necessary or advisable by the Executive Director, whose execution thereof shall be conclusive evidence of approval of any such changes and additions. The Executive Director and Secretary of the Agency are hereby authorized and directed to execute, attest and affix the seal of the Agency to the Indenture of Trust for and in the name and on behalf of the Agency. The Agency hereby authorizes the delivery and performance of the Indenture of Trust. Section 2. Purpose of Bonds. The Agency hereby authorizes the application of the available proceeds of the Bonds to fund a portion of the costs of implementing the Redevelopment Plan for housing purposes, consistent with expenditures from the Agency's Low and Moderate Income Housing Fund for Project Alpha. Section 3. Sale of Bonds. The Agency hereby authorizes the negotiated sale of the Bonds to First Interstate Bank of California, pursuant to and in accordance with the Bond Purchase Agreement in substantially the form on file with the Secretary together with any additions thereto or changes therein approved by the Executive Director, whose execution thereof shall be conclusive evidence of such approval. The Agency hereby delegates to the Executive Director the authority to accept or reject an offer from First Interstate Bank of California to purchase the Bonds from the Agency and to execute the Bond Purchase Agreement for and in the name and on behalf of the Agency; provided, however, that the weighted average rate of interest borne by all of the Bonds shall not exceed eleven percent (11%) per annum and the purchase price paid to the Agency for the purchase of Bonds shall not be less than 98 % of the par amount thereof. Section 4. Engagement of Professional Services. The Agency hereby approves the engagement of Stradling, Yocca, Carlson & Rauth, a Professional Corporation, as bond counsel to the Agency in connection with the issuance and sale of the Bonds in accordance with the terms of the letter proposal on file in the office of the Executive Director. The Executive Director is hereby authorized and directed to execute each of the agreements with said firm in the form on file with the Executive Director. Section 5. Official Actions. All actions heretofore taken by the officers and agents of the Agency with respect to the issuance of the Bonds are hereby approved, confirmed and ratified. The Chairman, the Executive Director, the Secretary and any and all other officers of the Agency are hereby authorized and directed, for and in the name and on behalf of the Agency, to do any and all things and take any and all actions, including execution and delivery of any and all assignments, certificates, requisitions, agreements, notices, consents, instruments of conveyance, warrants and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the transactions described herein. The Chairman of the Agency, the Executive Director of the Agency, the Secretary of the Agency, and any other proper officer of the Agency, acting singly, be and each of them hereby is authorized and directed to execute and deliver any and all documents and instruments, and to do and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated by the Bonds and the Indenture of Trust and any such other agreements. Whenever in this resolution any officer of the Agency is authorized to execute or countersign any document or take any action, such execution, countersigning or action may be taken on behalf of such officer by any person designated by such officer to act on his or her behalf in the case such officer shall be absent or unavailable. October 23, 1995 PUBL:30161_1 [ 171112621.70 PASSED, APPROVED AND ADOPTED, this 7_kb day of November , 1995. ANAHEIM REDEVELOPMENT AGENCY By ATTEST: Secretary, Anaheim Redevelopment Agency Octotmr 23, 1995 roYaL:30161_1 1171 R2621.70 3 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, LEONORA N. SOHL, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARA95-15 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 7th day of November, 1995, by the following vote of the members thereof: AYES: CHAIRMAN/AGENCY: Tait, Lopez, Zemel, Feldhaus, Daly NOES: CHAIRMAN/AGENCY: None ABSENT: CHAIRMAN/AGENCY: None AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency signed said Resolution No. ARA95-1.5 on the 7th day of November, 1995. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 7th day of November, 1995. SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY (SEAL)