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4/12/82
RESOLUTION NO. 82-52
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA APPROVING AND AUTHORIZING
EXECUTION OF LOAN AND SECURITY AGREEMENT,
ASSIGNMENT OF DEED OF TRUST, GUARANTY
AGREEMENT, PURCHASE AGREEMENT AND RELATED
DOCUMENTS PERTAINING TO 1982 INDUSTRIAL
REVENUE NOTE (MITSUBISHI CONSUMER
ELECTRONICS AMERICA, INC.)
WHEREAS, this Council on the date hereof has
adopted its Resolution entitled "A Resolution Authorizing
the Issuance of $3,000,000 Principal Amount of City of Santa
Ana 1982 Industrial Revenue Note (Mitsubishi Consumer
Electronics America, Inc.)", which Resolution authorizes and
provides the terms of the City's 1982 Industrial Revenue
Note (The "Note");
WHEREAS, there has been presented to this Council
certain agreements and related documents pertaining to the
security for, use of proceeds of and purchase of the Note;
WHEREAS, this Council has reviewed said agreements
and related documents and each and every part thereof; and
WHEREAS, issuance, sale and delivery of the Note
will further the public purposes of this City as set forth
in its Ordinance No. NS 1609 adopted on November 16, 1981,
and approval of said agreements and related documents will
be in the public interest and for the public benefit;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF SANTA ANA AS FOLLOWS:
1. That the Deed of Trust and Assignment of Rents
dated as of April 1, 1982, by and among Mitsubishi Consumer
Electronics America, Inc., as trustor, Title Insurance and
Trust Co., as Trustee and the City of Santa Ana, as
Beneficiary, is hereby accepted.
2. That the following documents are hereby approved
and the Mayor of this City is hereby authorized to execute
the same and the City Clerk is hereby authorized to attest
his signature, where required by said documents:
a. Industrial Revenue Note Purchase Agreement
dated as of the date hereof by the Mitsubishi Bank of
California (the "Bank") to be accepted by the City of Santa
Ana (the "City");
RESOLUTION NO. 82-52
PAGE TWO
b. Loan and Security Agreement, dated as of April
1, 1982, by and among the City, the Bank and Mitsubishi
Consumer Electronics America, Inc.;
c. Guaranty Agreement, dated as of April 1, 1982,
by and between Mitsubishi Electric Sales America, Inc. and
the City; and
d. Assignment of Deed of Trust dated as of April
1, 1982, to the Bank from the City.
3. That the Mayor, City Clerk, Treasurer and City
Manager of the City and each of them are hereby authorized
to execute such financing statements, assignments,
certificates, requests, receipts, notices and related
documents as will effectuate the delivery of the Note to the
City and the consummation of the financing transaction
contemplated by the aforesaid documents.
ADOPTED this ]gfh day of April , 1982.
Gordon , Mayor
ATTEST:
Council
Br icken ^ye
Luxembourger Aye
Acosta ^.~e
Serrato ^ye
Griset Aye
Markel Nay
McGuigan Aye
Approved as to Form:
Edward J. ~oo e~ City Attorney