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<br />'- <br /> <br />RESOLUTION NO. 85-6 IDA <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 />HOROWITZ BROTHERS TRUST <br /> <br />\",.. <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 Authori ty of the Ci ty 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 />WHEREAS, Horowitz Brothers Trust and successors and <br />assigns ("Developer") has requested the IDA to issue and sell <br />its revenue bonds for the purpose of financing the acquisition, <br />rehabilitation of and additions and alterations to industrial <br />buildings and related facilities (the "Project"), to be <br />completed by the Developer within the City, and the IDA wishes <br />to induce the Developer to construct and develop the Project in <br />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 City Council authorizes Bonds for the aforesaid <br />purposes; <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AS FOLLOWS: <br /> <br />f <br /> <br />L <br /> <br />1. The IDA hereby authori zes the issuance and sal e of <br />Bonds of the IDA pursuant to the California Industrial <br />Development Financing Act and the procedures specified in the <br />Resolution 83-1 in a principal amount of not to exceed Two <br />Million Dollars ($2,000,000) for the purpose of financing the <br />acquisition, rehabilitation of and additions and alterations <br /> <br />\",.. <br /> <br />~~.__~_____.~__~~_._~.__ ,__.,_..,_'_.~.._ ._._,__~...____<_,__.._. - ___~_"_._ _...____ .~_'~~__~"'_'__'_ ____._~_.".,_ - _____.._____._ ._,_._.._,__._~~.__. - __.r...._'._. _.~....__._.,_.._ ,_ _'___"_ ____ <br />