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11/9/82
RESOLUTION NO. 82-152
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA AUTHORIZING THE ISSUANCE
OF BONDS FOR THE PURPOSE OF FINANCING THE
ACQUISITION OF MACHINERY AND EQUIPMENT
AND RELATED FACILITIES BY CROUSTILLE
BAKING CO., INC.
WHEREAS, the City Council of the City of Santa Ana
(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
and commercial projects located within the City;
WHEREAS, Croustille Baking Co., Inc., a
corporation has requested the City to issue and sell its
revenue bonds for the purpose of financing the acquisition
and installation of machinery and equipment and related
facilities (the "Project"), to be constructed by the Company
within the City, and the City Council wishe~ 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 Three Million Dollars
($3,000,000.00) for the purpose of financing the
acquisition, construction and improvement of the Project
located at 2910 W. Garry. Such authorization is for the
purpose of inducing the Developer 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.
RESOLUTION NO. 82- 152
PAGE TWO
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.
4. The City Council does hereby find that the
adoption of this Resolution constitutes a substantial
inducement to the Company to undertake its Project within
the City.
5. This Resolution shall take effect immediately upon
its passage and adoption.
ADOPTED, this 15th day of November , 1982.
Gordon Bricken yor
ATTEST:
Guy, Clerk of the
COUNCILMEMBERS:
Bricken
Luxembourger
Acosta Aye
Serrato Nay
Griset Aye
Markel Nay
McGuigan Aye
Council
Approved as to Form:
City Attorney
Edward J~O ~