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29033-11 JHHW:JLN:ce 10/01/85 2276N <br /> <br />RESOLUTION NO. 85-124 <br /> <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />AUTHORIZING THE iSSUANCE AND SALE OF $6,500,000 PRINCIPAL AHOUNT OF <br />INDUSTRIAL DEVELOPHENT REVENUE BONDS (URBATEC PROJECT), APPROVING <br />RELATED DOCUHENTS AND AUTHORIZING OFFICIAL ACTION <br /> <br /> WHEREAS, the City of Santa Ana (the "City") proposes to issue its City <br />of Santa Ana Industrial Development Revenue Bonds (Urbatec Project) Sn the <br />aggregate principal amount of $6,500,000 under and pursuant to the provisions <br />of Chapter 28 of the Santa Ana Municipal Code, enacted pursuant to Ordinance <br />No. NS-1609 adopted by the City Council on November 16, 1981 (the "Law"), in <br />order to provide funds to make a loan to Urbatec, a California corporation <br />(the "Company"), pursuant to the terms of a proposed Loan Agreement (the "Loan <br />Agreement"), dated as of October l, 19B5, by and between the City and the <br />Company, to finance the acquisition, construction, and improvement of a <br />neighborhood shopping center, Including a market, drug store, restaurant, and <br />retail shopping facil~ties aggregating appro×lmately 120,000 square feet, <br />together wtth parking facilities, landscaping, and related facilities to be <br />located tn the City on an approximately 8.5 acre parcel of land located at the <br />northeast corner of First and Spurgeon Streets (the "Project"); and <br /> <br /> WHEREAS, the Bonds are to be issued under and pursuant to an Indenture <br />of Trust (the "Indenture"), dated as of October l, 1985, between the Ctty and <br />Trust Services of America, as trustee (the "Trustee"); and <br /> <br /> WHEREAS, the City Council has heretofore called and conducted a public <br />hearlng on the issuance of the Bonds as required by Section 103(k) of the <br />Internal Revenue Code of 1954, as amended; and <br /> <br /> WHEREAS, the City Council has heretofore, on December 21, 1984, adopted <br />its Resolutlon No. 84-158, authorizing the issuance and sale of the Bonds and <br />approving related documents and authorizing offictal action, and this Council <br />finds It necessary at this tlme to amend said resolution; and <br /> <br /> WHEREAS, there have been presented to this Council certain agreements <br />and related documents pertaining to the issuance and sale of, the terms and <br />conditions of, the security for, and the use of proceeds of the Bonds; and <br /> <br /> WHEREAS, the City approves of said transactions in the public interests <br />of the City; <br /> <br />.1- <br /> <br /> <br />