Laserfiche WebLink
RESOLUTION NO. 84-15 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA AUTHORIZING THE ISSUANCE OF BONDS FOR THE PURPOSE <br />OF FINANCING THE ACQUISITION OF LAND AND BUILDING AND <br />THE REHABILITATION OF A COMMERCIAL BUILDING AND <br />RELATED FACILITIES BY 17TH STREET REDEVELOPMENT <br />GROUP, LTD. <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 bonds, <br />notes, interim certificates, debentures or other obligations <br />("Bonds") pursuant to the City Charter for the purpose of <br />providing financing for the acquisition, rehabilitation, <br />construction and improvement of industrial and commercial <br />projects located within the City: <br /> <br /> WHEREAS, 17th Street Redevelopment Group, Ltd., a <br />California limited partnership, and successors and assigns <br />("Developer") has requested the City to issue and sell its <br />revenue bonds for the purpose of financing the acquisition of <br />land and building and the rehabilitation of a commercial <br />building and related facilities (the "Project"), to be <br />constructed by the Developer within the City, and the City <br />Council wishes to induce the Developer to construct and develop <br />the Project in the City; and <br /> <br /> WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the City <br />that the City Council authorizes Bonds for the aforesaid <br />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 and <br />sale of Bonds of the City pursuant to the City Charter and the <br />procedures specified in the Ordinance in a principal amount of <br />not to exceed Seven Million Dollars ($7,000,000.00) for the <br />purpose of financing the acquisition, rehabilitation, and <br />improvement of the Project located at 1823-1905 E. Seventeenth <br />Street. Such authorization is for the purpose of inducing the <br />Developer to undertake to construct and develop the Project <br />and, in particular, to do so at such 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 the <br />City, the Developer and the purchaser of said Bonds and shall <br />be issued by resolution of the City Council at a meeting duly <br />held and conducted for such purpose. <br /> <br /> <br />