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Resolution No. SAEC 1999-03 <br /> <br />A RESOLUTION CONFIRMING (1) THE FORM TO BE <br />USED TO APPLY FOR INDUSTRIAL DEVELOPMENT <br />BONDS, AND (2) AUTHORIZATION TO OBTAIN <br />TEMPORARY MARKETING BROCHURES <br /> <br /> THE BOARD OF DIRECTORS OF THE SANTA ANA EMPOWERMENT <br />CORPORATION HEREBY RESOLVES, DETERMINES, AND DECLARES AS <br />FOLLOWS: <br /> <br /> WHEREAS, on August 16, 1999, the Secretary of State filed~articles of <br />incorporation for the Santa Ana Empowerment Corporation ("SAEC" or "the <br />Corporation"); and <br /> <br /> WHEREAS, on September 22, 1999, the Board of Directors holds its first <br />meeting; and <br /> <br /> WHEREAS, at an organizational meeting held on August 25, 1999, staff presented <br />two proposals to the individuals who are now members of the Board of Directors, the first <br />for review of an application package to be used by entities wishing to secure industrial <br />development bonds through the Empowerment zone legislation, and the second to <br />consider award of a contract with Entropy for the preparation of three (3) brochures to do <br />some initial marketing of the Empowerment Zone; and <br /> <br /> WHEREAS, at this organizational meeting the individuals who now constitute the <br />Board of Directors made formal recommendations to staff on how to handle these twvo <br />proposals; and <br /> <br /> WHEREAS, now that the Board of Directors is officially constituted it is desired <br />to confirm that these two proposals represent the formal direction of the Board; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS <br />OF THE SANTA ANA EMPOWERMENT CORPORATION: <br /> <br /> 1. That the Executive Director is authorized and directed to utilize the <br />application package presented at the August 25, 1999 organizational meeting for the <br />Empowerment Zone bond financing program. <br /> <br /> <br />