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<br />~ <br /> <br />RESOLUTION NO. 83-6-IDA <br /> <br />f <br />L <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA <br />AUTHORIZING THE ISSUANCE OF NOT TO EXCEED <br />$1,500,000 PRINCIPAL AMOUNT OF INDUSTRIAL <br />DEVELOPMENT AUTHORITY OF THE CITY OF SANTA <br />ANA INDUSTRIAL REVENUE BONDS (REXNORD INC. <br />PROJECT) <br /> <br />WHEREAS, Rexnord Inc., a Wisconsin corporation, <br />("Applicant") desires to finance the construction and <br />improvement of certain facilities, including the acquisition <br />of equipment, operating as a manufacturing center for <br />fasteners and hydraulic fittings, located at 3130 West <br />Harvard Street in the City of Santa Ana ( the "Facility"); <br />and <br /> <br />'"" <br /> <br />WHEREAS, the Applicant is willing to undertake the <br />improvement of the Facility if the Industrial Development <br />Authority of the City of Santa Ana (the "Authority") will <br />issue its revenue bonds in an amount not exceeding One <br />Million Five Hundred Thousand Dollars ($1,500,000) to <br />finance the improvements to the Facility pursuant to the <br />California Industrial Development Financing Act, California <br />Government Code Sections 91500 et seq. (the "Act"); and <br /> <br />WHEREAS, THE Applicant has submitted, and this <br />Board of Directors has accepted, an application requesting <br />financing for the FaciE ty (the "Application"); and <br /> <br />WHEREAS, the Authority may not issue bonds to <br />finance the Facility until this Board of Directors makes <br />certain determinations with respect to public benefits and <br />qualifications of the Facility as required by the Act; and <br /> <br />L <br /> <br />WHEREAS, this Board of Directors has carefully <br />considered and discussed the information contained in the <br />Application and other information necessary to make such <br />d~terminationsi <br /> <br />The Board of Directors of the Industrial <br />Development Authority of the City of Santa Ana does resolve <br />as follows: <br /> <br />Section 1. This Board of Directors hereby finds <br />and determines: <br /> <br />'-' <br /> <br />(a) That the use of the Facility for a <br />manufacturing center is in accord with <br />Section 91503(a) of the Act; <br /> <br />L. _._____~ <br />