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<br />jwf 9/09/2008 <br /> <br />RESOLUTION NO. 2008-070 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE ISSUANCE OF THE <br />CALIFORNIA MUNICIPAL FINANCE AUTHORITY <br />VARIABLE RATE DEMAND REVENUE BONDS <br />(GOODWILL INDUSTRIES OF ORANGE COUNTY, <br />CALIFORNIA), SERIES 2008 IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED $8,000,000 FOR <br />THE PURPOSE OF FINANCING THE ACQUISITION, <br />CONSTRUCTION, IMPROVEMENT AND EQUIPPING OF <br />CERTAIN FACILITIES AND CERTAIN OTHER MATTERS <br />RELATING THERETO <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br /> <br />A. Goodwill Industries of Orange County, California, a nonprofit public benefit <br />corporation and an organization described in Section 501 (c)(3) of the <br />Internal Revenue Code of 1986 (the "Borrower"), has requested that the <br />California Municipal Finance Authority (the "Authority") participate in the <br />issuance of one or more series of revenue bonds in an aggregate principal <br />amount not to exceed $8,000,000 (the "Bonds") for (a) the acquisition, <br />construction, improvement and equipping of a 28,502 square foot <br />industrial property located at 1601 East SI. Andrew Place, Santa Ana, <br />California to accommodate a fitness center to serve persons with <br />disabilities, facilities to train disabled persons in the use of assistive <br />technology, facilities for document destruction to be operated by <br />Landmark Services, Inc. ("Landmark") and/or for other purposes of <br />Borrower, collectively accounting for no more than $7,250,000 of proceeds <br />of the Bonds, (b) certain leasehold improvements, fixtures, and equipment <br />at the Borrower's retail store facility located at 3021 West Lincoln Avenue, <br />Anaheim, California, accounting for no more than $710,000 of proceeds of <br />the Bonds, and (c) certain building improvements at the Borrower's <br />administrative offices located at 410 North Fairview Street, Santa Ana, <br />California, accounting for no more than $100,000 of proceeds of the <br />Bonds, (collectively, the "Project") to be owned and operated by the <br />Borrower and portions of which will be located within the City of Santa Ana <br />(the "City"); and <br /> <br />B. Pursuant to Section 147(1) of the Internal Revenue Code of 1986 (the <br />"Code"), the issuance of the Bonds by the Authority must be approved by <br /> <br />Resolution No. 2008-070 <br />Page 1 of 3 <br />