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<br />RESOLUTION NO. 85-19.IDA
<br />
<br />RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
<br />THE CITY OF SANTA ANA AUTHORIZING THE EXECUTION OF AN
<br />ACQUISITION AND AMENDMENT AGREEMENT RELATING TO
<br />$3,000,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985
<br />(LAMINATION TECHNOLOGY, INC. PROJECT)
<br />
<br />/1985
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<br />M4296
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<br />WHEREAS, the Industrial Development Authority of the City of Santa Ana
<br />(the "Authority") did, on March 1, 1985, issue $3,000,000 Industrial Develapment
<br />Revenue Bonds, Series 1985 (Lamination Technology, Inc. Project)(the "Bonds")
<br />for the purpose of financing the improvement and renovation of a certain
<br />manufacturing facility leased to Lamination Technology, Inc., a Delaware
<br />corporation (the "Company") at 2720 and 2730 South Main Street, Santa Ana,
<br />California and the acquisition of major capital equipment relating thereto (the
<br />"Project"); and
<br />
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<br />WHEREAS, the Bonds were guaranteed by Hadco Corporation, the parent
<br />company of the Company, pursuant to a Guaranty Agreement, dated as of February
<br />1, 1985, by and between Hadco Corporation and the Bank of California, National
<br />Association, as trustee for the Bonds (the "Trustee"); and
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<br />WHEREAS, Po lycl ad Lami nates, Inc. has purchased the Company from Hadco
<br />~rorporation and desires to release Hadco Corporation from its guarantee af the
<br />~onds, and to become the guarantor of the Bonds itself; and
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<br />WHEREAS, it is necessary to amend that certain Indenture of Trust by and
<br />between the Authority and the Trustee, dated as of February 1, 1985, as well as
<br />that certain Loan Agreement, by and between the Authority and the Company; and
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<br />WHEREAS, there has been presented to the Authority that certain
<br />Acquisition and Amendment Agreement, dated as of October 25, 1985, by and
<br />between the Authori ty, the Bank, the Trustee, Chase L i nco 1 n Fi rst Bank, N .A.,
<br />polyclad Laminates, Inc., Lamination Technolagy, Inc., and the First National
<br />Bank of Boston (the "Acquisition and Amendment Agreement"); and
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<br />WHEREAS, it is in the public interest and for the public benefit that said
<br />Acquisition and Amendment Agreement be approved:
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<br />NOW, THEREFORE, IT IS HEREBY ORDERED AND DETERMINED as follows:
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<br />1. That certain Acquisition and Amendment Agreement, as defined above, is
<br />hereby approved, and the Chairman is hereby authorized and directed to execute
<br />said Agreement, and the Secretary is hereby authorized and directed ta attest
<br />the Chairman's signature.
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