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RESOLUTION NO. 83-136 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING AN ISSUANCE OF BONDS BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA (REXNORD INC. PROJECT) WHEREAS, The Industrial Development Authority of the City of Santa Ana (the "Authority") has approved and filed with this City Council an application (the "Application") from Rexnord Inc. (the "Applicant") requesting that the Authority issue its revenue bonds pursuant to the California Industrial Development Financing Act, Government Code Sections 91500 et sem. (the "Act"), to finance the construction and improvement of certain facilities (the "Project") to be used by the Applicant; and WHEREAS, the Board of Directors of the Authority has made the determinations required to be made by it pursuant to Section 91530(c) of the Act preliminary to the issuance by the Authority of such revenue bonds; and WHEREAS, this City Council has considered the information contained in the aforesaid application and has considered the determinations of the Board of Directors of the Authority; and WHEREAS, this City Council has duly held a public meeting with respect to the Project and the financing in accordance with Section 103(k) of the Internal Revenue Code of 1954, as amended. The City Council of the City of Santa Ana does resolve as follows: SECTION 1. The City Council hereby approves the Application and the Project, subject to fulfillment of all requirements under the Act, and approves the issuance of revenue bonds of the Authority to finance costs of the Project, which bonds and the interest thereon shall be paid from revenues received by the Authority from the Applicant pursuant to a financing agreement with respect to the Project to be entered into between the Authority and the Applicant.