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29088-7 JHHW:JLN:bd 03/14/85 1552N \. I '-.. RESOLUTION NO. 85-JUL-IDA A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA APPROVING AND AUTHORIZING EXECUTION OF AN INDENTURE OF TRUST AND A LOAN AGREEMENT, ASSIGNING PRIVATE ACTIVITY BOND LIMIT, AWARDING THE SALE OF BONDS, AND AUTHORIZING CERTAIN ACTIONS RELATING THERETO (KIMSTOCK, INC. PROJECT) WHEREAS, the Industrial Development Authority of the City of Santa Ana (the "Authority") is a public, corporate instrumentality of the State of California duly formed under and pursuant to the California Industrial Development Financing Act (the "Act"), as amended, Title 10 of California Government Code, and is authorized under the Act to issue its tax-exempt industrial revenue bonds for the purpose of financing a manufacturing facility within the City of Santa Ana; and WHEREAS, Kimstock, Inc. (the "Company"), a California corporation, has requested the Authority to issue and sell its Variable Rate Demand Industrial Development Revenue Bonds, Series 1985 (Kimstock, Inc. Project) (the "Bonds") in the aggregate principal amount of not to exceed $3,300,000 for the purpose of prov i di ng a permanent loan to the Company to fi nance the acqu is i ti on, ~ rehabilitation, construction and improvement of a manufacturing facility including equipment and appurtenant offices, warehousing, landscaping and other improvements and faci 1 ities located at 2200 South Yale Street, Santa Ana, Ca1 ifornia (the "Project"); and WHEREAS, the City Counci 1 of the City of Santa Ana has held a publ ic heari ng on the question of whether the Authori ty should issue the Bonds, and all persons wishing to be heard on such question have been heard; and \... WHEREAS, the Authority has heretofore, on September 4, 1984, adopted its Resolution No. 84-7-IDA (the "Resolution"), authorizing .the issuance of Bonds for the Project, and has on November 5, 1984 adopted its Resolution No. 84-12-IDA, approving the application of the Company for Bond financing, making determi nations wi th respect thereto, and express i ng the i ntenti on of the Authority to undertake the financing of the Project; and WHEREAS, there have been presented to th is Authori ty certa in agreements and related documents pertaining to the issuance and sale of, the terms and conditions of, the security for, and the use of proceeds of the Bonds and this Authority has reviewed such agreements and related documents; and WHEREAS, the Company has complied with all applicable requirements of the Act and the Resolution and has requested the Authority to issue the Bonds at this time to provide permanent financing for the Project; WHEREAS, the issuance, sale and delivery of the Bonds wi 11 further the publiC purposes of the Authority as set forth in the Act, and approval of said agreements and related documents wi 11 be in the publ ic interest and for the publiC benefit; l