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<br />---------~~ <br /> <br />alterations for the Project located at 1928 South Grand Avenue. ~ <br />Such authorization is for the purpose of inducing the Developer <br />to 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 J..' <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 2lstday of January <br /> <br />, 1985. <br /> <br />~ <br /> <br />.J <br /> <br />Daniel E. Griset <br />Chairman <br /> <br />ATTEST: <br /> <br /> <br />DIRECTORS: <br /> <br />Griset <br />Johnson <br />Acosta <br />Hart <br />Luxembourger <br />McGuigan <br />Young <br /> <br />AYE <br />AYE <br />AS SENT <br />AYE <br />AYE <br />AYE <br />AYE <br /> <br /> <br />J <br /> <br />""'" <br /> <br />..____--.J <br />