HomeMy WebLinkAbout84-143RESOLUTION NO. 84-143
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 FOR LAMINATION TECHNOLOGY, INC.
WHEREAS, the Industrial Development Authority of
the City of Santa Ana (the "Authority") proposes tO enter
into financing agreements with Lamination Technology, Inc. a
Delaware corporation (the "Company"), and to issue its tax-
exempt industrial revenue bonds in an amount not to exceed
$3,000,000, for the purpose of providing financing for the
acquisition, rehabilitation, construction and improvement of
a manufacturing facility includinG equipment and appurtenant
offices, warehousing, landscaping and other improvements and
facilities located at 2720 South Main Street within the City
of Santa Ana, California (the "Project,);
WHEREAS, in accordance with Section 103(k) of the
Internal Revenue Code of 1954, as amended, a public hearing
has been duly called and conducted before the City Council
of the City of Santa Ana, as the applicable elected
representative of the Authority, on the financinG of the
Project and the proposal that the Authority issue its tax-
exempt bonds for such purpose, notice of which hearing has
been given in accordance with said Section 103(d);
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Santa Aha as follows:
Section 1. The City Council hereby approves the
Project, the issuance by the Authority of its tax-exempt
industrial revenue bonds in the principal amount of not to
exceed $3,000,000, for the purpose of providing financinG to
Lamination Technology, Inc., for the acquisition,
rehabilitation and improvement of the Project, and the
enterinG into by the Authority of financinG agreements for
such purpose.
Section 2. This resolution shall take effect
immediately.
ADOPTED, this 19th day of November , 1984
ATTEST:
~i~) b'~.F%/W. / ~ux embour~,
Ma y~/ ~
nice C. Guy, C~rk~the
COUNCILMEMBERS:
Council
Luxembourger Aye
Gr ise t Aye
Acosta Absent
Bricken b~
Johnson A e
McGuigan av--~ee
Young ~
Approved as to form:
ward J. cooper, /
~ City Attorney