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REL:adg <br />8/5/82 <br /> <br />RESOLUTION NO. 82-115 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA AUTHORIZING THE ISSUANCE <br />OF BONDS FOR THE PURPOSE OF FINANCING THE <br />CONSTRUCTION OF A COMMERCIAL OFFICE BUILDING <br />AND RELATED FACILITIES BY DON FASSNACHT AND <br />RICHARD HANSON <br /> <br /> WHEREAS, the City Council of the City of Santa Ana <br />(the "City") has adopted its Ordinance No. NS-1609 (the <br />"Ordinance") authorizing the City to issue and sell its <br />bonds, notes, interim certificates, debentures or other <br />obligations ("Bonds") pursuant to the City Charter for the <br />purpose of providing financing for the acquisition, <br />construction and improvement of industrial projects located <br />within the City; <br /> <br /> WHEREAS, Don Fassnacht and Richard Hanson <br />("Developers") have requested the City to issue and sell its <br />revenue bonds for the purpose of financing the construction <br />of a commercial office building and related facilities (the <br />"Project"), to be constructed by the Company within the <br />City, and the City Council wishes to induce the Developers <br />to construct and develop the Project in the City; and <br /> <br /> WHEREAS, it is in the public interest, for the <br />public benefit and in furtherance Of the public purposes of <br />the City that the City Council authorizes Bonds for the \ <br />aforesaid purposes; <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AS FOLLOWS: <br /> <br /> 1. The City Council hereby authorizes the issuance <br />and sale of Bonds of the City pursuant to the City Charter <br />and the procedures specified in the Ordinance in a principal <br />amount of not to exceed One Million Dollars ($1,000,000) for <br />the purpose of financing the construction and improvement of <br />the Project located at the southwest corner of Eastside <br />Drive and East Fourth Street. Such authorization is for the <br />purpose of inducing the Developers to undertake to construct <br />and develop the Project and, in particular, to do so at such <br />location. <br /> <br /> 2. The issuance and sale of said bonds shall be upon <br />such terms and conditions as may be mutually agreed upon by <br />the City, the Developers and the purchaser of said Bonds and <br />shall be issued by resolution of the City Council at a <br />meeting duly held and conducted for such purpose. <br /> <br /> <br />