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<br />, <br />I <br />i <br />, <br />~ <br /> <br />, <br /> <br />L <br /> <br />0290Z <br /> <br />RESOLUTION NO. 85---L--IDA <br /> <br />RESOLUTION OF THE <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA <br />AUTHORIZING THE ISSUANCE AND SALE OF <br />$3,000,000 PRINCIPAL AMOUNT OF <br />INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985 <br />(lAMINATION TECHNOLOGY, INC. PROJECT), <br />APPROVING RELATED DOCUMENTS AND <br />AUTHORIZING OFFICIAL ACTION <br /> <br />WHEREAS, the Industrial Development Authority of the City of Santa Ana <br />(the "Authori ty") proposes to issue its Industri a 1 Deve lopment Revenue Bonds <br />(lamination Technology Inc., Project) in the aggregate principal amount of <br />$3,000,000 (the "Bonds"), under and pursuant to the provisions of the <br />California Industrial Development Financing Act, being Chapter 10 of the <br />California Government Code (the "Act"), in order to provide funds to make a <br />loan to lamination Technology, Inc., a Delaware corporation (the "Company"), <br />pursuant to the terms of a proposed loan Agreement (the "loan Agreement"), <br />dated as of February 1, 1985, by and between the Authority and the Company, to <br />finance the improvement and renovation of certain manufacturing facilities <br />leased to the Company at 2720 and 2730 South Main Street, Santa Ana, <br />Ca 1 i forni a, and the acqu is iti on of major capital equ i pment re I a ti ng thereto <br />(the "Project"); and <br /> <br />WHEREAS, the Bonds are to be issued under and pursuant to an Indenture <br />of Trust (the "Indenture"), dated as of February 1, 1985, between the <br />Authority and a trustee bank to be se 1 ected by the Authority and the Company <br />(the "Trustee"); and <br /> <br />WHEREAS, the City Counci I of the City of Santa Ana (the "City") has <br />heretofore called and conducted, on November 19, 1984, a public hearing on the <br />issuance of the Bonds as required by Section l03(k) of the Internal Revenue <br />Code of 1954, as amended; and <br /> <br />WHEREAS, Chase lincoln First Bank, N.A., Rochester, New York (the <br />"Purchaser"), intends to submi t to the Authori ty an offer to purChase the <br />Bonds; and <br /> <br />WHEREAS, the Authority approves of said transactions in the public <br />interests of the City; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA, AS FOllOWS: <br />