HomeMy WebLinkAbout85-087RESOLUTION NO. 85-87
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA APPROVING THE APPLICATION OF
LOT 5 HOTEL ASSOCIATES FOR INDUSTRIAL
DEVELOPMENT BOND FINANCING PURSUANT TO
CHAPTER 28 OF THE.SANTA ANA MUNICIPAL CODE
WHEREAS, Chapter 28 of the Santa Ana Municipal Code
authorizes the City to sell its bonds, notes, interim
debentures, or other obligations pursuant to the City Charter,
for the purpose of providing financing for the acquisition,
rehabilitation, construction and improvement of industrial and
commercial projects located within the City; and
WHEREAS, Lot 5 Hotel Associates, a California Limited
Partnership has submitted an application for such financing for
a project consisting of a 132-room hotel located on the
property described in Exhibit A, in the City of Santa Ana; and
Wq~EREAS, this Council has reviewed said application and
accompanying staff report;
WHEREAS, this City Council has conducted a public hearing
upon notice duly published regarding the issuance of bonds for
the project in accordance with the requirements of Section
103(k) of the Internal Revenue Code of 1954, as amended; and
WHEREAS, the City Council are the applicable elected
representatives to conduct public hearings regarding the
issuance of the bonds for the project.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SANTA ANA AS FOLLOWS:
1. This Council finds and determines that the proposed
project as described in the application promotes the long-term
employment of the residents of the City; will not adversely
affect areas outside the boundaries of the City or transient
residents of the State; and is in the public interests of the
City, a valid exe?cise of the police powers of the City, and a
public purpose in which the City has a peculiar and unique
interest.
2. This Council accepts and/approves the said application
and the participation of the City in the financing of said
project, subject to the provisions of Chapter 28 of the Santa
Aha Municipal Code and the conclusion of all proceedings
undertaken to consummate such financing to the satisfaction of
the City.
ADOPTED, this 15th day of July , 1985.
Daniel E. Griset, Mayor
ATTEST:
J~nice C. Guy, Clerk of the Council
COUNCILMEMBERS:
Griset Aye
Johnson
Acosta ~sent
Hart
Luxembourger
McGuigan
Young Aye
Approved as to form:
Edward~ J .~r,
City Attorney
07-02-85
6467p/2105/04
-2-
($ONl~I~_..8 I~FERI~D ~0 AS ~LOT 5#)
PARCEL 6 OF PARCEL MAP NO. 79-908, IN'THE CITY OF SANTA ANA~
COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A AHAP FILED
~N BOOK 151, PAGES 26 TO 28 INCLUSIV~ OF PARCEL MAPs, ~N THE
OFFICE OF THE COUNTY RECORDER OF SAID.COUNTY.
3-28-85
127-781