HomeMy WebLinkAbout84-016RESOLUTION NO. 8446
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
ANA APPROVING THE APPLICATION OF GRAND PLAZA
DEVELOPMENT COMPANY FOR INDUSTRIAL DEVELOPMENT BOND
FINANCING PURSUANT TO CHAPTER 28 OF THE SANTA ANA
~3NICIPAL CODE
WHEREAS, Chapter 28 of the Santa Ana Municipal Code
authorizes the City to sell its bonds, notes, interim deben-
tures, or other obligations pursuant to the City Charter, for
the purpose of providing financing for the acquisition, reha-
bilitation, construction and improvement of industrial and
commercial projects located within the City; and
WHEREAS, Grand Plaza Development Company has
submitted an application for such financing for a project
consisting of a hotel building on property located at 2724-2726
S. Grand in the City of Santa Ana; and
WHEREAS, this Council has reviewed the said appli-
cation and accompanying staff report.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SANTA ANA AS FOLLOWS:
1. This Council finds and determines that the proposed
project as described in the application promotes the long-term
employment of the residents of the City; will not adversely
affect areas outside the boundaries of the City or transient
residents of the State; and is in the public interests of the
City, a valid exercise of the police powers of the City, and a
public purpose in which the City has a peculiar and unique
interest.
2. This Council accepts and approves the said appli-
cation and the participation of the City in the financing of
the said project, subject to the provisions of Chapter 28 of
the Santa Ana Municipal Code and the conclusion of all prO-
ceedings undertaken to consummate such financing to the
satisfaction of the City.
ADOPTED, this 21$tday of
, 1984.
Rob~ Luxembourge r/~eMayor
ATTEST:
Council
COUNCI LMEMBERS:
Luxembourger
Griset ~¥e
Acosta ~ve
Bricken Absent
Johnson Ave
McGuigan ~ve
Young Aye
Approved as to form: