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<br />\... <br /> <br />l <br /> <br />~ <br /> <br />L <br /> <br />\... <br /> <br />RESOLUTION NO. IDA 85-17 <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA, CALIFORNIA <br />AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $1,000,000 <br />PRINCIPAL AMOUNT OF ITS FLOATING/FIXED RATE DEMAND <br />REVENUE BONDS, SERIES 1985 (MCFADDEN PROPERTIES PROJECT) <br />FOR THE ACQUISITION AND CONSTRUCTION OF <br />A CERTAIN MANuFACTURING FACILITY <br />AND PROVIDING THE TERMS AND CONDITIONS FOR <br />THE ISSUANCE OF SAID BOND <br /> <br />WHEREAS, the California Industrial Development Fi- <br /> <br />nancing Act of the State of California, California Government <br /> <br />Code Section 91500, et seq., as amended, (the "Act") permits <br /> <br />an industrial development authority to issue revenue bonds <br /> <br />for the purpose of financing the acquisition, construction <br /> <br />and/or rehabilitation of facilities, including both real and <br /> <br />personal property suitable for industrial uses such as assem- <br /> <br />bling, fabricating, manufacturing or processing activities <br /> <br />with respect to any products of agriculture, forestry, mining <br /> <br />or manufacturing; and <br /> <br />WHEREAS, the Industrial Development Authority of <br />the City of Santa Ana (the "Authority"). is authorized by <br /> <br />Ordinance No. NS-1559, duly adopted by the City of Santa Ana, <br /> <br />California on January 5, 1981 to exercise powers of acquir- <br /> <br />y <br /> <br />ing, constructing and/or rehabilitating facilities and to <br /> <br />1 <br />