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<br />RESOLUTION NO. 84-6-IDA <br /> <br />'--' <br /> <br />L <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 REHABILITATION <br />OF AND ADDITIONS AND ALTERATIONS TO INDUSTRIAL <br />BUILDINGS AND RELATED FACILITIES BY U.S.D. CORP. <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 CitYl and . <br /> <br />,. <br /> <br />WHEREAS, U.S.D. Corp., a corporation, and successors <br />and assigns ("Developer") has requested the IDA to issue and <br />sell its revenue bonds for the purpose of financing the <br />rehabilitation of and additions and alterations to industrial <br />buildings 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 CitYl and <br /> <br />WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the C~ty <br />that the IDA authorizes Bonds for the aforesaid purposesl <br /> <br />BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />, <br />! <br />l <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 Two <br />Million Dollars ($2,000,000.00) for the purpose of financing <br />the rehabilitation of and additions and alterations for the <br />Project located at 3323 West Warner Avenue. Such authorization <br />is for the purpose of inducing the Developer to undertake to <br />construct and develop the Project and, in particular, to do so <br />at such location. <br /> <br />. <br /> <br />"'" <br /> <br />2. The issuance and sale of said bonds shall be upon <br />such terms and conditions as may be mutually agreed upon by the <br />