Laserfiche WebLink
RESOLUTION NO. 85- 4 <br /> <br />A RESOLUTION OF THE CITY COUNCIL 0F THE CITY OF <br />SANTA ANA AUTHORIZING THE ISSUANCE OF BONDS FOR <br />THE PURPOSE OF FINANCING THE ACQUISITION AND <br />CONSTRUCTION OF AN INDOOR SPORTS ARENA AND RELATED <br />FACILITIES BY THE GARDENS PARTNERSHIP <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, The Gardens Partnership, a California General <br />Partnership, and successors and assigns ("Developer") have <br />requested the City to issue and sell its revenue bonds for the <br />purpose of financing the acquisition of property and the <br />construction of an indoor sports arena and related facilities, <br />including but not limited to a parking structure (the <br />"Project"), to be constructed by the Developer within the City, <br />and the City Council wishes to induce the Developer to construct <br />and develop 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 Ninety Million Dollars ($90,000,000) for the <br />purpose of financing the construction and improvement of the <br />Project located on the southwest corner of Flower Street and <br />Civic Center Boulevard. Such authorization is for the purpose <br />of inducing the Developer to undertake to construct and develop <br />the Project and, in particular, to do so at such location. <br /> <br /> <br />