HomeMy WebLinkAbout83-136RESOLUTION NO. 83-136
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING AN ISSUANCE OF BONDS BY THE
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
SANTA ANA (REXNORD INC. PROJECT)
WHEREAS, The Industrial Development Authority of the
City of Santa Ana (the "Authority") has approved and filed
with this City Council an application (the "Application") from
Rexnord Inc. (the "Applicant") requesting that the Authority
issue its revenue bonds pursuant to the California Industrial
Development Financing Act, Government Code Sections 91500 et
sem. (the "Act"), to finance the construction and improvement
of certain facilities (the "Project") to be used by the
Applicant; and
WHEREAS, the Board of Directors of the Authority has
made the determinations required to be made by it pursuant to
Section 91530(c) of the Act preliminary to the issuance by the
Authority of such revenue bonds; and
WHEREAS, this City Council has considered the
information contained in the aforesaid application and has
considered the determinations of the Board of Directors of the
Authority; and
WHEREAS, this City Council has duly held a public
meeting with respect to the Project and the financing in
accordance with Section 103(k) of the Internal Revenue Code of
1954, as amended.
The City Council of the City of Santa Ana does
resolve as follows:
SECTION 1. The City Council hereby approves the
Application and the Project, subject to fulfillment of all
requirements under the Act, and approves the issuance of
revenue bonds of the Authority to finance costs of the
Project, which bonds and the interest thereon shall be paid
from revenues received by the Authority from the Applicant
pursuant to a financing agreement with respect to the Project
to be entered into between the Authority and the Applicant.
SECTION 2. The City Clerk is hereby directed to
certify and deliver this resolution to the Authority and to
transmit to the Authority copies of any assessments,
supporting studies, notices, certifications, declarations and
environmental impact reports, and statements of agencies in
connection with environmental matters, which relate to the
Project and are in the records of this City Council.
SECTION 3. This resolution shall take effect
immediately upon its passage.
APPROVED, PASSED AND SIGNED this 15THday of
November 1983.
ATTEST:
anice C. Guy, ler f the Council
COUNCILMEMBERS:
Luxembourger AYE
Griset AYE
Acosta AYE
Bricken ABSENT Approved as to poem:
Johnson AYE7
McGuigan AYE
Young AYE
Edward J. Co er,
City Att rney