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<br />'-' <br /> <br />RESOLUTION NO. 83-3-IDA <br /> <br />r <br />r <br />I.. <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY <br />OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />BONDS FOR THE PURPOSE OF FINANCING THE ACQUISITION OF <br />MACHINERY AND EQUIPMENT AND THE CONSTRUCTION OF <br />LEASEHOLD IMPROVEMENTS TO RELATED FACILITIES BY <br />LAMINATION TECHNOLOGY, INC. (1111 E. McFADDEN) <br /> <br />WHEREAS, the City Council of the City of Santa Ana <br />(the "City") has adopted its Ordinance No. NS-1559 (the <br />"Ordinance") authorizing the establishment of the Industrial <br />Development Authority of the City of Santa Ana (the "IDA") to <br />issue and sell its bonds, notes, interim certificates, <br />debentures or other obligations ("Bonds") pursuant to the <br />California Industrial Development Financing Act (Government <br />Code, Section 91500 et seq.), for the purpose of providing <br />financing for the acquisition, rehabilitation, construction and <br />improvement of industrial and commerical projects located <br />within the City: <br /> <br />""" WHEREAS, Lamination Technology, Inc., a California <br />corporation, and successors and assigns ("Developer") has <br />requested the IDA to issue and sell its revenue bonds for the <br />purpose of financing the acquisition of machinery and equipment <br />and construction of leasehold improvements to an industrial <br />building and related facilities (the "Project"), to be <br />completed by the Developer within the City, and the IDA wishes <br />to induce the Developer to construct and develop the Project in <br />the City; and <br /> <br />WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the City <br />that the IDA authorizes Bonds for the aforesaid purposes; <br /> <br />BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />'-' <br /> <br />1. The IDA hereby authorizes the issuance and sale of <br />Bonds of the IDA pursuant to the California Industrial <br />Development Financing Act and the procedures specified in <br />Resolution 83-1 in a principal amount of not to exceed Three <br />Million Dollars ($3,000,000.00) for the purpose of financing <br />the acquisition of machinery and equipment and construction of <br />leasehold improvements for the Project located at 1111 E. <br />McFadden Avenue. Such authorization is for the purpose of <br />inducing the Developer to undertake to construct and develop <br /> <br />L <br />