HomeMy WebLinkAbout85-046JHHW:JLN:cp 02/21/85 lSOSN
RESOLUTION NO. 85-46
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING AN ISSUANCE OF BONDS BY THE
INDUSTRIAL DEVELOPMENT AtJTHORITY OF THE CITY OF
SANTA ANA FOR MIC~)SEMI CORPORATION
WHEREAS, the Industrial Development Authority of the City of Santa Aha
(the "Authority") has approved and filed with this City Council an application
(the "Application") from Microsemt Corporation (the "Applicant") requesting
that the Authority issue its revenue bonds in an amount not to exceed
$6,500,000 pursuant to the California Industrial Development Financing Act,
Government Code Sections 91500, e~t seq. (the "Act"), to finance the
acquisition, rehabilitation and expansion of certain manufacturing facilities
(the "Project") located at 2830 South Eairview Street, in the City of Santa
Ana, 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 A4~chortty of such revenue bonds; and
WHEREAS, this City Council has com~stdered the information contained in
the aforesaid application and has considered the determlnations 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 ~ccordance with Section 103(k) of the
Internal Revenue Code of 1954, as amende~.
BE IT RESOLVED BY THE CITY COUNCIL ~F THE CITY OF SANTA ANA AS FOLLOWS:
1. The City Council hereby appr~es the Application and the Project,
subject to fulfillment of all requirememts under the Act, in an amount not to
exceed $6,500,000, to finance costs of the Pro~ect, which bonds and the
interest thereon shall be paid from revenues received by the Authority from
the Applicant pursuant to a financing a~ement with respect to the Project to
be entered into between the Authority an~ the Applicant.
2. The Clerk of the Council is Je~eby directed to certify and dellver
this resolution to the Authority and to transmit to the Authority copies of
any assessments, supporting studies, no~ii, ces, certifications, declarations and
environmental impact reports, and statements of agencies in connection with
environmental matters, which relate to ib~e Project and are in the records of
this City Council.
RESOLUTION NO. 85-46
PAGE TWO
3. This resolution shall take effect immediatelv uDon
its passaqe.
ADOPTED, this 18th day of March, 1985.
ATTEST:
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DANIEL E. GRISET, MAYOR
COUNCILMEMBERS:
Griset Aye
Johnson Aye
Acosta Aye
Hart Aye
Luxembourger Aye
McGuigan Aye
Young Aye
APPROVED AS TO FORM:
EDWARD J~ (COOPER, CITY ATTORNEY