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<br />. <br /> <br />RESOLUTION NO. 2004-099 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA ENTERING INTO A <br />LOAN OR LOANS IN A PRINCIPAL AMOUNT NOT TO EXCEED <br />$3,800,000 AND LENDING THE PROCEEDS OF SUCH LOAN OR <br />LOANS TO CD ANDREW PROPERTY, LLC AND ANDREW SPE, <br />LLC, AS APPLICABLE AND ALLOCATING AN AMOUNT NOT TO <br />EXCEED $3,800,000 OF THE SANTA ANA EMPOWERMENT <br />ZONE CEILING FOR PRIVATE ACTIVITY BONDS FOR THE <br />BENEFIT OF THE PROJECT TO BE FINANCED PURSUANT TO <br />SUCH LOANS <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA AS FOLLOWS: <br /> <br />Section 1. The City Council hereby finds, determines and declares as <br />follows: <br /> <br />. <br /> <br />A. Pursuant to the Taxpayer's Relief Act of 1997 (the "Taxpayer's <br />Relief Act"), the federal government has designated a portion of the City of Santa <br />Ana (the "City") as an empowerment zone (the "Santa Ana Empowerment <br />Zone"). <br /> <br />B. Pursuant to the Taxpayer's Relief Act, among the tax incentives <br />conferred on the City is the ability to issue up to $130 million in tax-exempt <br />enterprise zone facility bonds (the "Empowerment Zone Ceiling") to make loans <br />to qualifying business borrowers to finance the cost of certain commercial, retail, <br />industrial or other facilities qualifying as "enterprise zone facilities" as that term is <br />defined in Section 1394 of the Internal Revenue Code of 1986, as amended (the <br />"Code"). <br /> <br />C. As of the date of this Resolution, the City has utilized only <br />Seventeen Million Dollars ($17,000,000) of the City's Empowerment Zone <br />Ceiling, not counting other actions taking place this same date. <br /> <br />. <br /> <br />D. The Industrial Development Authority of the City of Santa Ana (the <br />"Authority") has accepted an application (the "Application") from CD Andrew <br />Property, LLC, a California limited liability company, or a related entity, and <br />Andrew SPE, LLC a California limited liability company, or a related entity, as <br />applicable (collectively, the "Applicant"), requesting the Authority to enter to a <br />loan agreement or loan agreements pursuant to the California Industrial <br />Development Financing Act, being Title 10 of the California Government Code, <br />as supplemented and amended (the "Act"), to finance the construction, <br /> <br />Resolution No. 2004-099 <br />Pagelof5 <br />