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<br />I <br /> <br />~ <br />L <br /> <br />~ <br /> <br />l <br /> <br />~ <br /> <br />0335Z <br /> <br />JHHW:BDQ:rmb <br /> <br />1/28/85 <br /> <br />~ <br /> <br />RESOLUTION NO. 85-~-IDA <br /> <br />A RESOLUTION ASSIGNING A PORTION OF THE <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA <br />1985 PRIVATE ACTIVITY BOND LIMIT TO THE <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA <br />INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985 <br />(LAMINATION TECHNOLOGY, INC. PROJECT) <br /> <br />RESOLVED, by the Board of Directors of the Industrial Development <br />Authority of the City of Santa Ana (the "Authority"), as follows: <br /> <br />WHEREAS, pursuant to Section 103(n) of the Internal Revenue Code of <br />1954, as amended, there are authorized to be Issued within the State of <br />California In any calendar year an amount of Private Activity Bonds (as <br />defined In said Section 103(n)) not exceeding In aggregate principal amount <br />the statewide limit determined as set forth in said Section 103(n); <br /> <br />WHEREAS, the Governor of the State of Ca 11 forn I a on Jul y 19, 1984, <br />Issued a Proclamation (the "Proclamation") implementing the provisIons of said <br />Section 103(n), pursuant to which a portion of said statewide limit 1s <br />allocated to each city based on the estimated population of such city; <br /> <br />WHEREAS, by Its Resolution No. 84-1, adopted October 17,1984, the <br />California Debt Limit Allocation Committee transferred a portion of the <br />State's share of the said statewide limit to each city and county within the <br />State; <br /> <br />WHEREAS, by Its Resolution No. 85-~, adopted February 19, 1985, the <br />City of Santa Ana (the "CI ty") transferred $3,000,000 of the CI ty' s share of <br />said statewide limit to the Authority; <br /> <br />WHEREAS, the Authority has determined that the portion of said statewide <br />1 I mlt transferred by the City to the Authorl ty for the current ca 1 endar year <br />Is $3,000,000 (the "1985 Pr1vate Activity Bond LImit"); <br /> <br />WHEREAS, the Authority proposes to Issue Its $3,000,000 Industrial <br />Development Revenue Bonds, Series 1985 (Lamination Technology, Inc. Project) <br />(the "Bonds") for the purpose of financing the Improvement and renovatIon of <br />certaIn manufacturing facIlities leased to LaminatIon Technology, Inc., a <br />Delaware corporation, at 2720 and 2730 South MaIn Street, Santa Ana, <br />CalIfornia, and the acquIsition of major capital equipment relating thereto <br />(the "Project"), and the Bonds constitute Private Activity Bonds; <br /> <br />---~-_...~~--_.~.~---"---~----_._.. ".~_._--- <br /> <br />----.... -- --~._--..~-~~-_._~~-_._--_._._-~.__._--_._---.._~_._~.- <br />