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RESOLUTION NO. 82- 63
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA AUTHORIZING THE ISSUANCE
OF BONDS FOR THE PURPOSE OF FINANCING THE
ACQUISITION OF MACHINERY AND EQUIPMENT AND
RELATED FACILITIES BY SPS TECHNOLOGIES, INC.
WHEREAS, the City Council of the City of Santa Ana
(the "City") has adopted its Ordinance No. NS-1609 (the
"Ordinance") authorizing the City to issue and sell its
bonds, notes, interim certificates, debentures or other
obligations ("Bonds") pursuant to the City Charter for the
purpose of providing financing for the acquisition,
rehabilitation, construction and improvement of industrial
projects located within the City;
WHEREAS, SPS Technologies, Inc., a corporation
qualified to do business in California ("Company") has
requested the City to issue and sell its revenue bonds for
the purpose of financing the acquisition and installation of
machinery and equipment and related facilities for the
purpose of wastewater treatment and disposal (the
"Project"), to be constructed by the Company within the
City, and the City Council wishes to induce the Company to
construct and develop the Project in the City; and
WHEREAS, it is in the public interest, for the
public benefit and in furtherance of the public purposes of
the City that the City Council authorizes Bonds for the
aforesaid purposes;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY'OF
SANTA ANA AS FOLLOWS:
1. The City Council hereby authorizes the issuance
and sale of Bonds of the City pursuant to the City Charter
and the procedures specified in the Ordinance in a principal
amount of not to exceed One Million Dollars ($1,000,000) for
the purpose of financing the acquisition, construction and
improvement of the Project located at 2701 S. Harbor Blvd.
Such authorization is for the purpose of inducing the
Company to undertake to construct and develop the Project
and, in particular, to do so at such location.
RESOLUTION NO. 82-63
PAGE TWO
2. The issuance and sale of said bonds shall be upon
such terms and conditions as may be mutually agreed upon by
the City, the Company and the purchaser of said Bonds and
shall be issued by resolution of the City Council at a
meeting duly held and conducted for such purpose.
3. The proceeds of the Bonds shall include such
related and necessary issuance expenses, administrative
costs, debt service reserves and interest payments as may be
required to accomplish successfully the financing.
4. The City Council does hereby find that the
adoption of this Resolution constitutes a substantial
inducement to the Company to undertake its Project within
the City.
5. This Resolution shall take effect immediately upon
its passage and adoption.
ADOPTED, this 17~h day of Ma? , 1982.
ATTEST:
~nice C. Guy, Cyerk~ the
COUNC ILMEMBERS:
Bricken Ah~nt
Luxembourger Aye
Acosta Aye
Serrato Ah~nt
Griset Aye
Markel Nay
McGuigan Aye
Council
Approved as to Form:
Attorney