HomeMy WebLinkAbout84-129RESOLUTION NO. 84-129
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING AN ISSUANCE OF BONDS BY THE
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
SANTA ANA FOR U.S.D. CORPORATION
WHEREAS, the Industrial Development Authority of
the City of Santa Ana (the "Authority") proposes to enter
into financing agreements with U.S.D. Corporation a Cali-
fornia corporation (the "Company"), and to issue its tax-
exempt industrial revenue bonds in an amount not to exceed
$3,000,000, for the purpose of providing financing for the
acquisition, rehabilitation, construction and improvement
of a manufacturing facility including equipment and appur-
tenant offices, warehousing, landscaping and other improve-
ments and facilities located at 3323 West Warner Avenue
within the City of Santa Ana, California (the "Project");
WHEREAS, in accordance with Section 103(k) of
the Internal Revenue Code of 1954, as amended, a public
hearing has been duly called and conducted before the City
Council of the City of Santa Ana, as the applicable elected
representative of the Authority, on the financing of the
Project and the proposal that the Authority issue its tax-
exempt bonds for such purpose, notice of which hearing has
been given in accordance with said Section 103(d);
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Santa Ana as follows:
Section 1. The City Council hereby approves the
Project, the issuance by the Authority of its tax-exempt
industrial revenue bonds in the principal amount of not to
exceed $3,000,000 for the purpose of providing financing
to U.S.D. Corporation, for the acquisition and construction
of the Project, and the entering into by the Authority of
financing agreements for such purpose.
Section 2. This resolution shall take effect
immediately.
ADOPTED, this
ATTEST:
~;~nice C. Guy; ~l~rk~
COUNCILMEMBERS:
Luxembourger _~
Griset Nay
Acosta ~ Ay~
Bricken
Johnson ~
McGuigan
Young ~
5th day of November , 1984
the Council
Approved as to form:
~dwar'~ ~. Co,per,
City At~Y