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12/14/81
RESOLUTION NO. 81-220
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA AUTHORIZING THE ISSUANCE OF BONDS
FOR THE PURPOSE OF FINANCING THE ACQUISITION
AND CONSTRUCTION OF MANUFACTURING AND RELATED
FACILITIES BY ANODYNE, INC.
WHEREAS, the City Council of the City of Santa Aha
(the "City") has adopted its Ordinance No. NS-1609 (the
"Ordinance") authorizing the City to issue and sell its
bonds, notes, interim certificates, debentures or other
obligations ("Bonds") pursuant to the City Charter for the
purpose of providing financing for the acquisition,
rehabilitation, construction and improvement of industrial
projects located within the City;
WHEREAS, Anodyne, Inc., a corporation qualified to
do business in California ("Company") has requested the City
to issue and sell its revenue bonds for the purpose of
financing the acquisition and construction of certain
industrial facilities consisting of an industrial coating
facility and parking and related and appurtenant facilities
and property (the "Project"), to be constructed by the
Company within the City, and the City Council wishes to
induce the Company to construct and develop the Project in
the City; and
WHEREAS, it is in the public interest, for the
public benefit and in furtherance of the public purposes of
the City that the City Council authorizes Bonds for the
aforesaid purposes;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SANTA ANA AS FOLLOWS:
1. The City Council hereby authorizes the
issuance and sale of Bonds of the City pursuant to the City
Charter and the procedures specified in the Ordinance in a
principal amount of not to exceed Five Million Dollars
($5,000,000) for the purpose of financing the acquisition,
construction and improvement of the Project located at
2230 and 2240 S. Susan Street. Such authorization is for
the purpose of inducing the Company to undertake to
construct and develop the Project and, in particular, to do
so at such location.
2. The issuance and sale of said bonds shall be
upon such terms and conditions as may be mutually agreed
upon by the City, the Company and the purchaser of said
Bonds and shall be issued by resolution of the City Council
at a meeting duly held and conducted for such purpose.
3. The proceeds of the Bonds shall include such
related and necessary issuance expenses, administrative
costs, debt service reserves and interest payments as may be
required to accomplish successfully the financing.
RESOLUTION NO. 81-220
PAGE TWO
4. The City Council does hereby find that the
adoption of this Resolution constitutes a substantial
inducement to the Company to undertake its Project with the
City.
5. This Resolution shall take effect immediately
upon its passage and adoption.
ADOPTED, this 21st day of December
1981, by the following vote:
AYES:
COUNCILMEMBERS: Acosta, Bricken, Griset,
Luxembourger, McGuigan, Serrato
NOES: COUNCILMEMBERS: Markel
ABSENT: COUNCILMEMBERS: None
ATTEST:
GO~{~ON BRICKEN
MAYOR
EDWARD J./OO R )
CITY ATTORNEY'~-'