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<br />"'" <br /> <br />\., <br /> <br />"'" <br /> <br />I <br />~ <br />~ <br /> <br />" <br /> <br />r, <br /> <br />JHHW:JLN:cp 11/13/84 l059N <br /> <br />RESOLUTION NO. 84- 18 -IDA <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA <br />APPROVING AND AUTHORIZING EXECUTION OF AN INDENTURE <br />OF TRUST AND A LOAN AGREEMENT, ASSIGNING PRIVATE ACTIVITY <br />BOND LIMIT, AWARDING THE SALE OF BONDS, AND AUTHORIZING <br />CERTAIN ACTIONS RELATING THERETO <br />(U.S.D. CORP PROJECT) <br /> <br />WHEREAS, the Industrial Development Authority of the City of Santa Ana <br />(the "Authority") is a public, corporate instrumentality of the State of <br />California duly formed under and pursuant to the California Industrial <br />Development Financing Act (the "Act"), as amended, Title 10 of California <br />Government Code, and is authori zed under the Act to issue its tax-exempt <br />industrial revenue bonds for the purpose of financing industrial and <br />manufacturing projects within the City of Santa Ana; and <br /> <br />WHEREAS, U.S.D. Corp (the "Company"), a California corporation, has <br />requested the Authority to issue and sell its Variable Rate Demand Industrial <br />Development Revenue Bonds (U.S.D. Corp Project) (the "Bonds") in the aggregate <br />principal amount of not to exceed $3,000,000 for the purpose of providing a <br />permanent loan to the Company to finance the acquisition, construction, and <br />rehabilitation of a manufacturing facility and appurtenant improvements, <br />structures, faci 1 iti es and equi pment, located at 3323 Wes t Warner Avenue, <br />Santa Ana, California (the "Project"); and <br /> <br />WHEREAS, the Ci ty Counc i 1 of the Ci ty of Santa Ana has held a pub 1 i c <br />hearing on the question of whether the Authority should issue the Bonds, and <br />all persons wishing to be heard on such question have been heard; and <br /> <br />i <br />" <br /> <br />WHEREAS, the Authori ty has heretofore, on Ju I y 16, 1984, adopted its <br />Resolution No. 84-6-IDA, as amended by Resolution No.84-17-IDA, adopted on <br />November 19, 1984 (together the "Resolution"), authorizing the issuance of <br />Bonds for the Project, and has on November 5, 1984 adopted its Resolution No. <br />84-ll-IDA, approving the application of the Company for Bond financing, making <br />determinations with respect thereto, and expressing the intention of the <br />Authority to undertake the financing of the Project; and <br /> <br />WHEREAS, there have been presented to this Authority certain agreements <br />and related documents pertaining to the issuance and sale of, the terms and <br />conditions of, the security for. a"d the use of proceeds of the Bonds and this <br />Authority has reviewed such agreeffients and related documents; and <br /> <br />WHEREAS, the Company ha "!TIplied with all applicable requirements of <br />the Act and the Re'<J1ution and n3S requested the Authority to issue the Bonds <br />at this time to pre; ''jef one ,[ financing for the Project; <br /> <br />--~--~~~~- <br /> <br />.-----_.~--~--""-----_.__.. ~--- <br />