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<br />RESOLUTION NO. 83-7-IDA <br /> <br />\... <br /> <br />I <br />I <br />L <br /> <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITV <br />OF THE CITV OF SANTA ANA AUTHORIZING THE ISSUANCE OF <br />NOT TO EXCEED $3,000,000 PRINCIPAL AMOUNT OF <br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF <br />SANTA ANA INDUSTRIAL REVENUE BONDS (FAIRVIEW <br />INVESTORS PROJECT) <br /> <br />WHEREAS, the Industrial Development Authority of the <br />City of Santa Ana (the "Authority") is an industrial <br />development financing authority duly formed and existing under <br />the California Industrial Development Financing Act, <br />constituting Sections 91500 et seq. of the California <br />Government Code (the "Law"), and is authorized under the law <br />to issue its industrial revenue bonds for the purpose of <br />financing industrial and research and development projects in <br />the City of Santa Ana; and, <br /> <br />\.,.. <br /> <br />WHEREAS, Fairview Investors Limited (the "Company") <br />has requested the Authority to issue and sell its industrial <br />reve nue bonds (the "Bonds") for the purpose of providi ng a <br />loan to the Company to finance the construction and <br />improvement of certain facilities for industrial use, together <br />with related facilities and equipment to be located at 2722 N. <br />Fairview Street, in the City of Santa Ana (the "Project"); <br />and, <br /> <br />WHEREAS, the Authority has heretofore approved the <br />application of the Company to finance the Project; and, <br /> <br />WHEREAS, the Company has requested the Authority to <br />authorize the issuance of the Bonds at this time to provide <br />construction and permanent financing for the Project. <br /> <br />BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />L <br /> <br />1. Acts and Conditions Precedent. The Authority has <br />reviewed all proceedings heretofore taken and has found, as a <br />result of such review, and hereby finds and determines, that <br />all things, conditions and acts required by law to exist, <br />happen or be performed precedent to and in connection with the <br />issuance of the Bonds do exist, have happened and have been <br />performed in due time, form and manner as required by law, and <br />the Authority is now empowered, pursuant to each and every <br />requirement of law, to issue the Bonds in the manner and form <br />provided in this Resolution. <br /> <br />\.,.. <br />