2025-050 - Enterprise Development Authority for 3130 South Fairview Street

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RESOLUTION NO. 2025-050 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA, APPROVING THE ISSUANCE OF NOT TO EXCEED $40,000,000 TAXABLE REVENUE BONDS BY THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY FOR 3130 SOUTH FAIRVIEW STREET WHEREAS, 3130 South Fairview LLC, a California limited liability company ("Fairview"), and Robinson Pharma, Inc., a California corporation ("Robinson" and, together with Fairview, the "Applicants"), have requested the California Enterprise Development Authority (the "Authority") to issue, from time to time, pursuant to a plan of finance, of one or more series of its taxable bonds, notes, or other evidence of indebtedness in an amount not to exceed $40,000,000 (the "Bonds"), the proceeds of which are to be loaned to one or both of the Applicants and/or related or successor entities (collectively, the "Borrowers") for the purpose of (a) financing, refinancing and/or reimbursing the cost of the acquisition, improvement and equipping of the real property and improvements located at 3130 South Fairview Street, Santa Ana, California 92704; and (b) paying certain financing costs and costs of issuance in connection with the Bonds (collectively, the "Project"); and WHEREAS, pursuant to Section 91530(f) of the California Industrial Development Financing Act(constituting Title 10 of the California Government Code) (the "Government Code"), the issuance of the Bonds by the Authority must be approved by the local agency having jurisdiction over the area in which all or a portion of the Project is located; and WHEREAS, the Project is located within the territorial limits of the City of Santa Ana (the "City"); and WHEREAS, the Authority and the Borrowers have requested that the City Council to approve the issuance of the Bonds by the Authority in order to satisfy the requirements of Section 91530(f) of the Government Code; and WHEREAS, it is in the public interest and for the public benefit that the City Council approve the issuance of the Bonds by the Authority for the aforesaid purposes. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Santa Ana as follows: Section 1. On information and belief, the foregoing recitals are true and correct. Section 2. The City Council hereby approves the issuance of the Bonds by the Authority for the purpose of financing, refinancing and/or reimbursing the cost of the Project. It is the purpose and intent of the City Council that this resolution constitute approval of the issuance of the Bonds by the Authority for the purposes of Section 91530(f) of the Government Code. Resolution No. 2025-050 Page 1 of 3