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RESOLUTION NO. 84-10-IDA '-' I L A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA APPROVING THE APPLICATION OF RITCHEY CENTER NORTH FOR INDUSTRIAL DEVELOPMENT BOND FINANCING. des ires certain located on June Orange, WHEREAS, Ritchey Center North ("Applicant") to finance the acquisition and improvement of facilities, operating as a manufacturing center, on parcel numbers 1, 2, 3 & 5 of parcel map recorded 19, 1973 in book 52, page 33 for the County of in the City of Santa Ana (the "Facility"); and '-' WHEREAS, the Applicant is willing to undertake the improvement of the Facility if the Industrial Developement Authority of the City of Santa Ana (the "Authority") will issue its revenue bonds in an amount not exceeding Five Million Dollars ($5,000,000) to finance the acquisition and improvement to the Facility pursuant to the California Industrial Development Financing Act, California Government Code Sections 91500 et seq. (the "Act"); and WHEREAS, the Applicant has submitted, and this Board of Directors has accepted, an application requesting financing for the Facility (the "Application"); and WHEREAS, the Authority may not issue bonds to finance the Facility until this Board of Directors makes certain determinations with respect to public benefits and qualifications of the Facility as required by the Act; and WHEREAS, this Board of Directors has carefully considered and discussed the information contained in the Application and other information necessary to make such determinations; BE IT RESOLVED BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA AS FOLLCMS: ! I I L 1. This Board of Directors hereby finds and determines: (a) That the use of the Facility for a manufacturing center is in accord with Section 91503(a) of the Act; \,.- (b) That the use of the Facility is likely to produce employment benefits securing or increasing the number of employees of the