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RESOLUTION NO. 85-51 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE ISSUANCE OF BONDS FOR THE <br />PURPOSE OF PROVIDING FINANCING FOR THE ACQUISITION <br />AND CONSTRUCTION OF A NEIGHBORHOOD SHOPPING CENTER <br />AND RELATED FACILITIES BY HOROWITZ BROTHERS TRUST <br />AND STANDARD CONCRETE <br /> <br /> WHEREAS, the City Council of the Santa Aha (the <br />"City") has adopted its Ordinance No. NS-1609 (the "Ordinance") <br />authorizing the City to issue and sell its bonds, notes, <br />interim certificates, debentures, or other obligations ("Bonds") <br />pursuant to the City Charter, for the purpose of providing <br />financing for the acquisition, rehabilitation, construction <br />and improvement of industrial and commercial projects located <br />within the City; and <br /> <br /> WHEREAS, Horowitz Brothers Trust and Standard <br />Concrete, a California Corporation, and successors and assigns <br />("Developer") have requested the City to issue and sell its <br />revenue bonds for the purpose of financing the acquisition <br />of property and the construction of a neighborhood shopping <br />center and related facilities (the "Project"), to be constructed <br />by the Developer within the City, and. the ~City Council~ <br />to induce the Developer to construct and develop the Project <br />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 City Council hereby authorizes 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 Two Million Two Hundred Thousand <br />Dollars ($2,200,000) for the purpose of financing the construction <br />and improvement of the Project located at 2216 South Grand <br />Avenue. Such authorization is for the purpose of inducing <br />the Developer to undertake to construct and develop the <br />Project 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 <br />the City, the Developer and the purchaser of said Bonds and <br />shall be issued by resolution of the City Council at a meeting <br />duly held and conducted for such purpose. <br /> <br /> <br />