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<br />the acquisition, and construction of the project located on the <br />west side of the 1900 block of South Grand Avenue. 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 />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 />IDA, the Developer and the purchaser of said Bonds and shall be <br />issued by resolution of the IDA at a meeting duly held and <br />conducted for such purpose. <br /> <br />3. The proceeds of the Bonds shall include such related <br />and necessary issuance expenses, administrative costs, debt <br />service reserves and interest payments as may be required to <br />accomplish successfully the financing. <br /> <br />4. The IDA does hereby find that the adoption of this <br />Resolution constitutes a substantial inducement to the <br />Developer to undertake its project within the City. <br /> <br />5. This Resolution shall take effect immediately upon <br />its passage and adoption. <br /> <br />ADOPTED, this 21st day of January <br /> <br />, 1985. <br /> <br />~ <br /> <br />Daniel E. Griset <br />Chairman <br /> <br />ATTEST: <br /> <br />~_.,- y~~ <br />an ce C. Guy, S~cre <br />DIRECTORS: <br /> <br />Griset <br />Johnson <br />Acosta <br />Hart <br />Luxembourger <br />McGuigan <br />Young <br /> <br />AYE <br />AYE <br />ABS E NT <br />AYE <br />AYE <br />AYE <br />AYE <br /> <br />~ope< <br /> <br /> <br />Legal Counsel <br /> <br />L.n_~~..._....__ <br /> <br />..,J <br /> <br />J <br /> <br />..., <br /> <br />J <br /> <br />.,J <br />