1984-012 - Laserfiche WebLink

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RESOLUTION NO. 84-12-IDA "'" A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA APPROVING THE APPLICATION OF KIMSTOCK, INC. FOR INDUSTRIAL DEVELOPMENT BOND FINANCING. \., WHEREAS, Kimstock, Inc. ("Applicant") desires to finance the acquisition, rehabilitation and expansion of certain facilities, operating as a manufacturing center, located at 2200 South Yale, in the City of Santa Ana (the "Facility"); and WHEREAS, the Applicant is willing to undertake the improvement of the Facility if the Industrial Developement Authority of the City of Santa Ana (the "Authority") will issue its revenue bonds in an amount not exceeding Three Million Three Hundred Thousand Dollars ($3,300,000) to finance the acquisition, rehabilitation and expansion of the Facility pursuant to the California Industrial Development Financing Act, California Government Code Sections 91500 et seq. (the "Act"); and "-' WHEREAS, the Applicant has submitted, and this Board of Directors has accepted, an application requesting financing for the Facility (the "Application"); and WHEREAS, the Authority may not issue bonds to finance the Facility until this Board of Directors makes certain determinations with respect to pUblic benefits and qualifications of the Facility as required by the Act; and WHEREAS, this Board of Directors has carefully considered and discussed the information contained in the Application and other information necessary to make such determinations; BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. This Board of Directors hereby finds and determines: ~ (a) That the use of the Facility for a manufacturing center is in accord with Section 91503(a) of the Act; (b) That the use of the Facility is likely to produce employment benefits securing or increasing the number of employees of the Applicant as more particularly set forth in the Application; k I I , \.,