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<br />RESOLUTION NO. 83-4-IDA <br /> <br />~ <br /> <br />, <br />i <br />I <br />\. <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY <br />OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />BONDS FOR THE PURPOSE OF FINANCING THE CONSTRUCTION <br />OF AN ADDITION AND ALTERATIONS TO AN INDUSTRIAL <br />BUILDING AND RELATED FACILITIES BY FAIRVIEW <br />INVESTORS, LIMITED (2700-2722 S. FAIRVIEW) <br /> <br />WHEREAS, the City Council of the City of Santa Ana <br />(the "City") has adopted its Ordinance No. NS-1559 (the <br />"Ordinance") authorizing the establishment of the Industrial <br />Development Authority of the City of Santa Ana (the "IDA") to <br />issue and sell its bonds, notes, interim certificates, <br />debentures or other obligations ("Bonds") pursuant to the <br />California Industrial Development Financing Act (Government <br />Code, Section 91500 et seq.), for the purpose of providing <br />financing for the acquisition, rehabilitation, construction and <br />improvement of industrial and commerical projects located <br />within the City: <br /> <br />~ <br /> <br />WHEREAS, Fairview Investors, Limited, a California <br />limited partnership, and successors and assigns ("Developer") <br />has requested the IDA to issue and sell its revenue bonds for <br />the purpose of financing the construction of an addition and <br />alterations to an industrial building and related facilities <br />(the "Project"), to be completed by the Developer wi thin the <br />City, and the IDA wishes to induce the Developer to construct <br />and develop the Project in the City, and <br /> <br />WHEREAS, it is in the public interest, for the public <br />benefit and in furtherance of the public purposes of the City <br />that the IDA authorizes Bonds for the aforesaid purposes, <br /> <br />BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />'-" <br /> <br />1. The IDA hereby authorizes the issuance and sale of <br />Bonds of the IDA pursuant to the California Industrial <br />Development Financing Act and the procedures specified in <br />Resolution 83-1 in a principal amount of not to exceed Three <br />r1illion Dollars ($3,000,000.00) for the purpose of financing <br />the construction of an addition and alterations for the Project <br />located at 2700-2722 S. Fairview Avenue. Such authorization is <br />for the purpose of inducing the Developer to undertake to <br />construct and develop the Project and, in particular, to do so <br />at such location. <br /> <br />l <br />