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<br />. <br /> <br />RESOLUTION NO. IDA 2004-002 <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA AUTHORIZING <br />ENTERING INTO LOAN AGREEMENTS PURSUANT TO WHICH <br />THE AUTHORITY WILL BORROW AND LEND TO BORROWER <br />NOT TO EXCEED $4,700,000 FOR THE ACQUISITION, <br />CONSTRUCTION AND INSTALLATION OF CERTAIN PROPERTY <br />AND FACILITIES, AND AUTHORIZING VARIOUS ACTIONS IN <br />CONNECTION THEREWITH <br /> <br />BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br />Section 1. The Board of Directors hereby finds, determines and <br />declares as follows: <br /> <br />. <br /> <br />A. The California Industrial Development Financing Act (California <br />Government Code Sections 91500 et seq., as amended and supplemented) (the <br />"Act"), permits an industrial development authority to issue revenue bonds for the <br />purpose of financing the acquisition, construction and/or rehabilitation of facilities, <br />including real and personal property suitable for industrial uses such as <br />assembling, fabricating, manufacturing or processing activities with respect to <br />any products of agriculture, forestry or manufacturing, within an empowerment <br />zone and enterprise community designated pursuant to Section 1391 of the <br />Internal Revenue Code of 1986, as amended (the "Code"), and the Act deems <br />such revenue bonds to include various types of obligations and evidences of <br />indebtedness. <br /> <br />B. The Industrial Development Authority of the City of Santa Ana (the <br />"Authority") is authorized pursuant to the provisions of the Act to exercise powers <br />of acquiring, constructing, improving, furnishing, equipping, repairing, <br />reconstructing and/or rehabilitating facilities and to enter into agreements for the <br />same. <br /> <br />C. The Board of Directors of the Authority desires to enter into loan <br />agreements for the benefit of NSHE Harlan, LLC, an Arizona limited liability <br />company, or a related entity, and Memory Experts International (USA), Inc., or a <br />related entity, as applicable (collectively, the "Borrower") for the purpose of <br />financing the acquisition, construction, improvement and equipping of certain <br />property to be located at The Pres Corporate Center, 1651 S1. Andrew Place, <br />Santa Ana, California, and certain costs of issuance, all of which together <br />constitute a project under the Act (the "Project"). <br /> <br />. <br /> <br />IDA Resolution No. 2004-002 <br />Page 1 of 6 <br /> <br />