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RESOLUTION N0. I -5 <br />A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF FULLERTON AUTHOR- <br />IZING ISSUANCE OF $3,500,000 INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS FOR PCL PACKAGING INC. <br />WHEREAS, the Industrial Development Authority (the "Authority ") of the <br />City of Fullerton (the "City ") is an industrial development authority duly <br />created and existing pursuant to the California Industrial Development Act <br />(Title 10, Chapter 1, Articles 1 and 2 of the Government Code of the State. <br />of California commencing with Section 91500) (the "Act "); and <br />WHEREAS, on May 28, 1984, PCL Packaging, Inc. (the "Company ") applied <br />to the Authority for financing the acquisition of equipment and plant improve- <br />ments-further described below (the' "Project ")'pursuant to the Act; and <br />WHEREAS, on June 19, 1984; the Authority adopted Resolution 2 entitled <br />"A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF FULLER- <br />TON AUTHORIZING THE ISSUANCE OF BONDS FOR THE ACQUISITION.OF EQUIPMENT AND <br />FACILITY IMPROVEMENTS FOR PCL PACKAGING, INC." (the "Initial Inducement Reso- <br />lution") wherein the Authority, among other things, approved such May 28, 1984 <br />application, the Project and the issue of industrial development revenue bonds <br />(the "Bonds ") pursuant to the Act in an aggregate amount not to exceed $2,000,000; <br />and <br />WHEREAS, on October 26, 1984, the Company amended, supplemented and clari- <br />fied its May 28, 1984 application (together with the May 28, 1984 application <br />the "Application "), containing the information required by the Act, which <br />Application was accepted by the Authority; and <br />WHEREAS, on November 7, 1984, the Authority adopted Resolution No. 3 <br />entitled "A SUPPLEMENTAL RESOLUTION OF THE INDUSTRIAL DEVELOPMENT•AUTHORITY <br />OF THE CITY OF FULLERTON, OF INTENTION TO UNDERTAKE A PROJECT COMPRISED OF <br />ACQUISITION OF ASSEMBLING, FABRICATING AND MANUFACTURING EQUIPMENT FOR PCL <br />PACKAGING, INC., CONSTITUTING SUPPLEMENTAL OFFICIAL ACTION TOWARD THE ISSUANCE <br />• OF INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR SUCH PROJECT" (together with the <br />initial Inducement Resolution, the "Inducement Resolution "), wherein the <br />Authority, among other things made certain determinations as required by the <br />Act and expressed its present intention to issue the Bonds for the Project, <br />comprised of the acquisition of equipment for the assembling, manufacturing <br />and fabricating of plastic bags, in the estimated principal amount of <br />$3,500,000; and <br />WHEREAS, a notice of the filing of the Application has been published, <br />as required by the Act, on November 20, 1984, in a newspaper of general circu- <br />lation in the City; and <br />WHEREAS, on October 26, 1984, following adoption of the Initial Inducement <br />Resolution, the Application was submitted to the California Industrial Financing <br />Advisory Commission; and <br />WHEREAS, on November 20, 1984, a copy of the Application was filed with <br />the City of Fullerton (the "City ") as required by the Act and on the date here - <br />of;, within 45 days of such filing, the City Council of the City has adopted <br />Resolution No. 7289 entitled "A RESOLUTION OF THE CITY OF FULLERTON APPROVING <br />A PROJECT COMPRISED OF ACQUISITION OF ASSEMBLING, FABRICATING AND MANUFACTURING <br />EQUIPMENT FOR PCL PACKAGING, INC. AND THE ISSUANCE OF INDUSTRIAL DEVELOPMENT <br />BONDS OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF FULLERTON THEREFOR ", <br />• <br />