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C. D.F. Stauffer Biscuit Company, Inc. and Laguna Cookie Company, Inc. (collectively, the "Applicant") have submitted, and the Board of Directors of the ""'" Authority has accepted, an application requesting the Authority to enter into a loan agreement (the "Loan Agreement") with GE Capital Public Finance, Inc. (the "Lender") and Laguna Cookie Company, Inc. (the "Borrower") pursuant to which the Lender will loan the Authority an amount not to exceed Twelve Million Dollars ($12,000,000.00) which the Authority will in turn loan to the Borrower (the "Loan") for the purpose of financing the (1) construction of certain improvements to the real property located at 4661 Garry Avenue, Santa Ana, Califomia (the "Project Site"), (2) acquisition and installation of equipment at the Project Site and (3) payment of capitalized interest and certain costs of issuance in connection with the execution and delivery of the Loan Agreement, constituting a project under the Act (hereafter collectively referred to as the "Project"). D. The Project is located within the Santa Ana Federal Empowerment Zone, designated pursuant to the Taxpayers Relief Act of 1997. E. The Project will be used by the Borrower for production and distribution of various baked cookie and cracker products or for other purposes permitted by Section 1394 of the Code. F. The Authority may not enter into the Loan Agreement and borrow the funds from the Lender and make the Loan to the Borrower to finance the Project until the Board of Directors of the Authority makes certain determinations with respect to ""'" the public benefits and qualification of the Project as required by the Act. G. The Project constitutes "Facilities" within the meaning of the Act and the Borrower is a "Company" within the meaning of the Act. H Pursuant to section 91531 of the Act, the California Industrial Development Financing Advisory Commission ("CIDFAC") is required to make certain findings and determinations and give all necessary approvals as required by the Act prior to the execution and delivery of the Loan Agreement and the completion of the Loan. I. The Authority and the Borrower have submitted all necessary information to CIDFAC in order to permit CIDFAC to make its findings and determinations and give its approval at its meeting to be held on July 19, 2000. J. There has been presented to this meeting and is now on file with the Secretary of the Authority the following: (1) a proposed form of the Loan Agreement (the "Loan Agreement"), to be entered into by and among the Authority, the Borrower and the Lender; (2) a proposed form of the Escrow Agreement (the "Escrow Agreement"), to be entered into by and among the Authority, the Borrower, """ IDA Resolution No. 2000-003 Page 2 of 5