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M1 <br />1 <br />• <br />E <br />RESOLUTION NO. I -10 <br />A RESOLUTION OF THE FULLERTON MNDUSMEM <br />DEVELOPMENT- AUTHORITY AUTHORIZING THE <br />ISSUANCE AND SALE OF VARIABLE RATE DEMAND <br />INDUSTRIAL DEVELOP1iENT REVENUE BONDS, <br />(SUNCLIPSE, INC. PROJECT) ISSUE A OF 1985 IN <br />A PRINCIPAL AMOUNT NOT TO EXCEED $7,000,000; <br />AUTHORIZING THE EXECUTION AND DELIVERY OF <br />CERTAIN DOCUMENTS IN CONNECTION THEREWITH; <br />AND AUTHORIZING CERTAIN OTHER MATTERS IN <br />RELATION THERETO <br />WHEREAS, the Fullerton Iii"iitri�il Mjov. opaiti t Authority (the "Authority ") <br />has been duly activated by ordinance of the City Council of the City of <br />Fullerton and the Authority Board has been duly constituted; and <br />WHEREAS, Sunclipse Inc., a California corporation, (the "Borrower" <br />herein) has submitted its Application for the issuance of the Bond on be- <br />half of its proposed Project, all as such terms are defined in the California <br />1i3lustria2 peV i}{. eit t Financing Act (California Government Code Section 91500 <br />et seq.) (the "Act" herein), which Application was accepted and approved by <br />the Authority on June 4, 1985; and - <br />WHEREAS, said Project involves the acquisition, rehabilitation and im- <br />provement of a manufacturing, distribution, and warehousing facility for <br />paper products, to be located on approximately ten (10) acres of land, on <br />East Rosslynn Avenue in the City of Fullerton, all as more particularly <br />described in the Borrower's application, as amended, on file with the Au- <br />thority; and <br />WHEREAS, the City Council of the City of Fullerton approved the Au- <br />thority's acceptance of the Borrower's application by a resolution adopted <br />on July 16, 1985, and approved the financing for the Borrower's Project, in- <br />cluding the issuance of bonds therefor, by a resolution adopted on July 16, <br />1985, following a duly noticed public hearing; and <br />WHEREAS, the California Iha"ftia -1 i v kaPiuei Financing Advisory Com- <br />mission will consider the financing contemplated herein, and make certain <br />findings relative to this financing, by resolution to be adopted on July 17, <br />1985: and <br />WHEREAS, the financing documents, as hereinafter described, comply with <br />all conditions of the City; and <br />WHEREAS, there have been presented to this meeting the following docu- <br />ments (referred to collectively as the "Bond Documents "): <br />1. The form of a Trust Indenture dated as of July 1, 1985 (the "In- <br />. denture "), from the Authority to The Bank of California, N.A., as <br />Trustee (the "Trustee "), pursuant to which the Bonds will be is- <br />sued and secured; <br />2. The form of a Loan Agreement dated as of July 1, 1985, together <br />with pertinent exhibits thereto, providing for the loan of Bond <br />proceeds to the Borrower (the "Loan Agreement "); <br />3. The form of a Private Placement Memorandum (the "Memorandum "): <br />E <br />