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2086H 5HHN:WHM:sss 8/30/84 <br /> <br />RESOLUTION NO. 84-112 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br /> APPROVING AND AUTHORIZING EXECUTION OF AN INDENTURE <br /> OF TRUST AND A LOAN AGREEMENT, AWARDING THE SALE <br /> OF BONDS (THE GRAND PARTNERSHIP), AND AUTHORIZING <br /> CERTAIN ACTIONS RELATING THERETO <br /> <br /> WHEREAS, this Council has passed and adopted Ordinance No. NS-1609 (the <br />"Ordinance"), which authorizes the City to issue its industrial development <br />revenue bonds, pursuant to the City Charter, for the purpose of providing <br />financing for the acquisition, construction and improvement of industrial and <br />commercial ~acilities within the City; and <br /> <br /> WHEREAS, this Council has heretofore, by Resolution No. 83-131, entitled <br />"A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE <br />ISSUANCE OF 80NDS FOR THE PURPOSE OF FINANCING THE ACQUISITION OF LAND AND <br />CONSTRUCTION OF A HOTEL BUILDING AND RELATED FACILITIES BY G~AND PLAZA <br />DEVELOPMENT COMPANY" expressed its intent to issue Bonds in an amount not to <br />exceed $10,OO0,O00 'to finance the acquisition and construction and <br />rehabilitation of a hotel to be located at 2724 - 2726 S. Grand Avenue, Santa <br />Aha (the "Project") for a California general partnership (the "Partnership"); <br />and <br /> <br /> WHEREAS, there have been presented to this Council certain agreements <br />and related documents pertaining to the issuance and sale of, the security for <br />and the use of proceeds of the City's Industrial Development Revenue Bonds, <br />Series 1984 (The Grand Partnership) (the "Bonds"); and <br /> <br /> WHEREAS, this Council has reviewed such agreements and related <br />documents; and <br /> <br /> WHEREAS, the issuance, sale and delivery of the Bonds will further the <br />public purposes of the City as set forth in the Ordinance, and approval .of <br />said agreements and related documents will be in the public interest and for <br />the public benefit; and <br /> <br /> WHEREAS, this Council has held a public hearing on the question of <br />whether the~City should issue the 8onds, and all persons wishing to be heard <br />on such question have been heard; and <br /> <br /> <br />