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29033-14 JHHW:JLN:ce 12/04/85 N2625 <br /> <br />Resolution No. 85-_1_S]__ <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA PROVIDING FOR THE ISSUANCE OF BONDS, <br />AMENDING RESOLUTION NO. 84-156, AUTHORIZING AND <br />DIRECTING EXECUTION OF DOCUMENTS, ~SIGNING PRIVATE <br />ACTIVITY BOND LIMIT, AWARDING SALE OF BONDS, AND <br />AUTHORIZING CERTAIN ACTIONS REI~ATING THERETO <br />(Civic Center Medical Arts Project) <br /> <br /> WHEREAS, the~City of Santa Aha (the "City") is a chartered city of the <br />State of California and is authorized under and pursuant to the provisions <br />of Chapter 2B of the Santa Ana Municipal Code, enacted pursuant to <br />Ordinance No. NS-1609 on November 16, 1981 (the "Law"), to issue its <br />industrial revenue bonds for the purpose of financing commercial and <br />industrial projects in the City; and <br /> <br /> WHEREAS, Civic Center Medical Arts Association, a California limited <br />partnership (the "Company"}, has requested the City to issue and sell its <br />industrial revenue bonds (the "Bonds") in the aggregate principal amount of <br />not to exceed $4,500,000 in order to provide funds to make a loan to the <br />Company to finance the acquisition, construction and improvement of a four- <br />story building consisting of three stories of medical and professional <br />suites and one story of related retail space aggregating approximately <br />40,000 square feet, together with parking facilities, landscaping and <br />related facilities and improvements (the "Project"), to be located in the <br />City on an approximately one acre parcel of land at 500 West Santa Ana <br />Boulevard; and <br /> <br /> WHEREAS, this Council has heretofore, on December 17, 1984, adopted <br />its Resolution No. 84-156, authorizing and providing for the issuance of the <br />Bonds upon the terms and conditions as stated in said resolution, and has <br />now determined it to be necessary to amend said resolution; and <br /> <br /> WHEREAS, there has been presented to the City certain agreements and <br />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 />this City has reviewed such agreements and related documents; and <br /> <br /> WHEREAS, the Bonds are to be secured by a letter of credit issued by <br />Barclays Bank PLC; and <br /> <br /> WHEREAS, the Company has complied with all applicable requirements of <br />the Law and the Resolution and has requested the City to authorize the <br />issuance of the Bonds at this time to provide financing for the Project; and <br /> <br />-1- <br /> <br /> <br />