HomeMy WebLinkAbout1985-018
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RESOLUTION NO. IDA 85-18
A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF SANTA ANA, CALIFORNIA RELATING TO ITS
FLOATING/FIXED RATE DEMAND INDUSTRIAL DEVELOPMENT
REVENUE BONDS, SERIES 1985 (McFADDEN PROPERTIES PRO-
JECT) FOR THE ACQUISITION AND CONSTRUCTION OF A MANU-
FACTURING FACILITY
WHEREAS, Resolution No. IDA 85-17 (the "Resolution")
provided for the issuance by the Industrial Development
Authority of the City of Santa Ana (the "Authority") of not
to exceed $1,000,000 aggregate principal amount of its
Floating/Fixed Rate Demand Industrial Development Revenue
Bonds, Series 1985 (McFadden Properties Project) (the "Bonds")
for the purpose of bond issuance expenses and for acquiring
property and constructing thereon a manufacturing facility to
be located in the City of Santa Ana (the "project").
, WHEREAS, pursuant to said Resolution the City of
Santa Ana (the "City") at~empted to transfer an amount not to
exceed $1,000,000 of the allocation transferred to the City
from the County of Orange for the purposes of the Project.
WHEREAS, pursuant to a resolution of the County of
Orange, it had instead directly transferred to the Authority
an allocation sufficient to cover the Project.
WHEREAS, the Authority now wishes to amend the
Resolution to clarify that the transfer of funds for the
Project came directly from the County of Orange and not from
the City of Santa Ana.
NOW, THEREFORE, BE IT RESOLVED by the Industrial
Development Authority of the City of Santa Ana as follows:
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The Authority hereby specifically amends the Reso-
lution to provide that the allocation transferred to the
Authority for the Project was transferred directly from the
County of Orange instead of being transferred first to the City
and then to the Authority.
1985.
ATTEST:
APPROVED AND ADOPTED THIS
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Secretary
DIRECTORS:
Griset
Johnson
Acosta
Hart
Luxembourger
McGuigan
Young
Aye
Aye
Absent
Aye
Aye
Aye
Aye
3rd
DAY OF LlECtiVI8E:<,
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Chairman
APPROVED AS TO FORM:
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