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RESOLUTION NO. 85-122 <br /> <br /> A RESOLUTION OF <br /> THE CITY OF SANTA ANA, CALIFOR/qIA <br /> AUTHORIZING THE ISSUANCE OF NOT TO EXCEED <br /> $4,000,000 PRINCIPAL AMOUNT OF ITS FLOATING/FIXED <br /> P~ATE DEMAND INDUSTRIAL DEVELOPMENT <br />REVENUE BONUS, SERIES 1985 (MCFADDEN PROPERTIES PROJECT) <br /> FOR THE ACQUISITION AND CONSTRUCTION OF TWO CERTAIN <br /> COMMERCIAL FACILITIES AN/) PROVIDINH THE TERMS <br /> AND CONDITIONS FOR THE ISSUANCE OF SAID BOND <br /> <br /> WHEREAS, an Ordinance of the City of Santa Ana (the <br />"Ordinance") permits the City of Santa Ana to issue indus- <br />trial development revenue bonds for the purpose of financing <br />the acquisition, construction and/or rehabilitation of <br />facilities, including both real and personal property suit- <br />able for industrial and commercial uses; and <br /> <br /> WHEREAS, the City of Santa Ana (the "City"), is <br />authorized by Ordinance No. NS-1609, duly adopted by the City <br />on November 16, 1981 to exercise powers of acquiring, con- <br />structing and/or rehabilitating facilities and to enter into <br />agreements for the same; and <br /> <br /> ~5{EREAS, McFadden Properties, a California general <br />partnership, organized and existing under the laws of the <br />State of California and duly qualified to do business in the <br />State of California (the "Company"), has requested that the <br />City issue bonds for the purposes of bond issuance expenses <br />and for acquiring property and constructing thereon two <br /> <br /> <br />