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RESOLUTION NO. 84-102 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />sANTA ANA AUTHORIZING THE ISSUANCE OF BONDS FOR <br />THE PURPOSE OF FINANCING THE ACQUISITION, <br />REHABILITATION, AND CONSTRUCTION OF COMMERCIAL <br />BUILDINGS AND RELATED FACILITIES BY GEORGE AND <br />NANCY PARK. <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 financ%ng for the acquisition, <br />rehabilitation, construction'and improvement of industrial <br />and commercial projects located within the City; <br /> <br /> WHEREAS, George and Nancy Park and successors and <br />assigns ("Developer") have requested the City to issue and <br />sell its revenue bonds for the purpose of financing the <br />acquisition, rehabilitation, and construction of commerical <br />buildings 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 <br />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 C-ity Gounci! hereby aurhorizes 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 and One-half Million Dollars <br />($1,500,000) for the purpose of financing the acquisition, <br />rehabilitation, and construction of the Project located at <br />2417 N. Tustin Avenue. Such authorization is for the <br />purpose of inducing the Developer 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 by mutually agreed upon by <br />the City, the Developer 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 />