HomeMy WebLinkAbout85-144RESOLUTION NO. 85-144
A RESOLUTION OF THE CITY OF SANTA ANA, CALIFORNIA
RELATING TO ITS FLOATING/FIXED RATE DEMAND INDUS-
TRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985
(McFADDEN PROPERTIES PROJECT) FOR THE ACQUISITION
AND CONSTRUCTION OF A COMMERCIAL FACILITY
WHEREAS, a Resolution No. 85-122(the "Resolution")
provided for the issuance by the City of Santa Ana (the "City")
of not to exceed $4,000,000 aggregate principal amount of its
Floating/Fixed Rate Demand Industrial Development Revenue Bonds,
Series 1985 (McFadden Properties Project) for the purpose of
bond issuance expenses and for acquiring property and construc-
tion thereon of an office facility to be located in the City of
Santa Ana (the "Project").
WHEREAS, pursuant to said Resolution, the City
attempted to transfer an amount not to exceed $1,000,000, of
the allocation transferred to the City.from the County of
Orange'to the Industrial Development Authority for the City
of Santa Ana (the "Authority") for the purposes of bond is-
.suance expenses and for acquiring property and construction
thereon of a manufacturing facility to be located in the
City of Santa Ana (the "Second Project").
WHEREAS, the allocation transferred to the City by
the County was not sufficient to cover both the Project and
the Second Project and instead the County of Orange had
directly transferred to the Authority an allocation sufficient
to cover the Second Project.
WHEREAS, the Ci%y now wishes to amend the Resolution
to provide for the transfer back to the City, of the amount,
if any, that may have been transferred to the Authority pur-
suant to the Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Santa Ana, California as follows: the City hereby
specifically amends the Resolution to provide that any attempted
transfer to the Authority pursuant to the Resolution, is hereby
specifically revoked and the officers and agents of the City
are hereby authorized and directed, jointly and severally, to
do any and all things and to execute and deliver any and all
documents and take any and all actions to effectuate the purpose
of this resolution.
APPROVED AND ADOPTED THIS 3rd
DAY OF : DECEMBEr,
1985.
Daniel E. Griset
Mayor
ATTEST:
1~ce C' Guy / ~'~/
rk of ,the CounCil
COUNCILMEMBERS:
Griset Aye
Johnson Aye
Acosta Absent
Hart Aye
Luxembourger Aye
McGuigan Aye
Young Aye
APPROVED AS TO FORM:
'Edw~rO/~. C~oper
City Att~z~1~y