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RESOLUTION NO. 85-113 <br /> <br /> RESOLUTION OF THE CITY COUNCIL OF THE <br /> CITY OF SANTA ANA ANA AUTHORIZING THE ISSUANCE <br />AND SALE OF $6,000,000 PRINCIPAL AMOUNT OF <br />COMMERCIAL REVENUE BONDS (MCFADDEN PROPERTIES), APPROVING <br /> RELATED DOCUMENTS AND AUTHORIZING OFFICIAL ACTION <br /> <br /> WHEREAS, the members of the City Council are the <br />duly elected officials of the City of Santa Ana for purposes <br />of Section 103(k) of the Internal Revenue Code of 1954, as <br />amended (the "code"); and <br /> <br /> WHEREAS, this meeting of the City Council on <br />September 17, 1985 at 2:30 P.M. constitutes a public hearing <br />within the meaning of Section 103(k) of the Code; and <br /> <br /> WHEREAS, adequate <br />given by publication in the <br />and <br /> <br />notice of the public hearing was <br />Register on September 3, 1985; <br /> <br /> WHEREAS, said notice specified that this public <br />hearing shall be with respect to the following Project: <br /> <br />COMPANY: McFadden Properties, which will construct <br />and own the Project. <br /> <br />PROJECT: Acquisition, construction and improvement <br />of two commercial office buildings consisting of <br />an aggregate of approximately 59,000 square feet, <br />located on the south side of McFadden Avenue between <br />the Costa Mesa Freeway and Ritchey Street at approx- <br />imately 2002 E. McFadden Avenue in the City of <br />Santa Ana, California. The Project will be used <br />for commercial office space by the Company and <br />other persons; and <br /> <br /> WHEREAS, such notice also provided that the proposed <br />bonds will be issued by the City in a total principal amount <br />not to exceed $6,000,000 to finance the costs of the Project <br />and the bonds will be repaid entirely by the Company and <br />that neither the faith and credit nor the taxing power of <br />the City, the State of California or any political subdivision <br />thereof will be pledged to the payment of the principal of <br />or interest on the proposed bonds or other costs incident <br />thereto; and <br /> <br /> WHEREAS, no written comments were received prior <br />to this hearing; and <br /> <br /> <br />