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<br />RESOLUTION NO. 84-8-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 ACQUISITION, <br />REHABILITATION OF AND ADDITIONS AND ALTERATIONS TO <br />INDUSTRIAL BUILDINGS AND RELATED FACILITIES BY <br />MICROSEMI CORPORATION. <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~ and <br /> <br />~ <br /> <br />WHEREAS, Microsemi Corporation, 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, rehabilitation of and <br />additions and alterations to industrial buildings and related <br />facilities (the "Project"), to be completed by the Developer <br />within the City, and the IDA wishes to induce the Developer to <br />construct and develop the Project in 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 Six <br />Million Dollars ($6,000,000.00) for the purpose of financing <br />the acquisition, rehabilitation of and additions and <br />alterations for the Project located at 2830 S. Fairview. Such <br />authorization is for the purpose of inducing the Developer to <br />undertake to construct and develop the Project and, in <br />particular, to do so at such location. <br /> <br />L <br />