HomeMy WebLinkAbout1985-019
29088-9
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JHHW:WHM ;11/14
RESOLUTION NO. 85-19. lOA
RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF SANTA ANA AUTHORIZING THE EXECUTION OF AN
ACQUISITION AND AMENDMENT AGREEMENT RELATING TO
$3,000,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985
(LAMINATION TECHNOLOGY, INC. PROJECT)
/1985
M4296
l
WHEREAS, the Industrial Development Authority of the City of Santa Ana
(the "Authority") did, on March I, 1985, issue $3,000,000 Industrial DevelQpment
Revenue Bonds, Series 1985 (Lamination Technology, Inc. Project)(the "Bonds")
for the purpose of financing the improvement and renovation of a certain
manufacturing facility leased to Lamination Technology, Inc., a Delaware
corporat i on (the "Company") at 2720 and 2730 South Main Street, Santa Ana,
California and the acquisition of major capital equipment relating thereto (the
"Project"); and
WHEREAS, the Bonds were guaranteed by Hadco Corporation, the parent
company of the Company, pursuant to a Guaranty Agreement, dated as of February
I, 1985, by and between Hadco Corporation and the Bank of California, National
Association, as trustee for the Bonds (the "Trustee"); and
WHEREAS, Po lycl ad Lami nates, Inc. has purchased the Company from Hadco
. rorporation and desires to release Hadco Corporation from its guarantee of the
~onds, and to become the guarantor of the Bonds itself; and
WHEREAS, it is necessary tQ amend that certain Indenture of Trust by and
between the Authority and the Trustee, dated as of February I, 1985, as well as
that certain Loan Agreement, by and between the Authority and the Company; and
WHEREAS, there has been presented to the Authority that certain
Acquisition and Amendment Agreement, dated as of October 25, 1985, by and
between the Authority, the Bank, the Trustee, Chase Lincoln First Bank, N.A.,
polyclad Laminates, Inc., Lamination Technology, Inc., and the First National
Bank of Boston (the "Acquisition and Amendment Agreement"); and
WHEREAS, it is in the public interest and for the public benefit that said
Acquisition and Amendment Agreement be approved:
NOW, THEREFORE, IT IS HEREBY ORDERED AND DETERMINED as follows:
l
1. That certain Acquisition and Amendment Agreement, as defined above, is
hereby approved, and the Chairman is hereby authorized and directed to execute
sa i d Agreement, and the Secretary is hereby authori zed and di rected to attest
the Chairman's signature.
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29088-9
~
JHHW:WHM ;11/14
RESOLUTION NO. 85-19.IDA
RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF SANTA ANA AUTHORIZING THE EXECUTION OF AN
ACQUISITION AND AMENDMENT AGREEMENT RELATING TO
$3,000,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES 1985
(LAMINATION TECHNOLOGY, INC. PROJECT)
/1985
M4296
1
\..
WHEREAS, the Industrial Development Authority of the City of Santa Ana
(the "Authority") did, on March 1, 1985, issue $3,000,000 Industrial Develapment
Revenue Bonds, Series 1985 (Lamination Technology, Inc. Project)(the "Bonds")
for the purpose of financing the improvement and renovation of a certain
manufacturing facility leased to Lamination Technology, Inc., a Delaware
corporation (the "Company") at 2720 and 2730 South Main Street, Santa Ana,
California and the acquisition of major capital equipment relating thereto (the
"Project"); and
WHEREAS, the Bonds were guaranteed by Hadco Corporation, the parent
company of the Company, pursuant to a Guaranty Agreement, dated as of February
1, 1985, by and between Hadco Corporation and the Bank of California, National
Association, as trustee for the Bonds (the "Trustee"); and
WHEREAS, Po lycl ad Lami nates, Inc. has purchased the Company from Hadco
~rorporation and desires to release Hadco Corporation from its guarantee af the
~onds, and to become the guarantor of the Bonds itself; and
WHEREAS, it is necessary to amend that certain Indenture of Trust by and
between the Authority and the Trustee, dated as of February 1, 1985, as well as
that certain Loan Agreement, by and between the Authority and the Company; and
WHEREAS, there has been presented to the Authority that certain
Acquisition and Amendment Agreement, dated as of October 25, 1985, by and
between the Authori ty, the Bank, the Trustee, Chase L i nco 1 n Fi rst Bank, N .A.,
polyclad Laminates, Inc., Lamination Technolagy, Inc., and the First National
Bank of Boston (the "Acquisition and Amendment Agreement"); and
WHEREAS, it is in the public interest and for the public benefit that said
Acquisition and Amendment Agreement be approved:
NOW, THEREFORE, IT IS HEREBY ORDERED AND DETERMINED as follows:
L
1. That certain Acquisition and Amendment Agreement, as defined above, is
hereby approved, and the Chairman is hereby authorized and directed to execute
said Agreement, and the Secretary is hereby authorized and directed ta attest
the Chairman's signature.
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