IDA Resolution No I-14
Industrial Development Authority Resolutions
IDA Resolution No I-14
2/28/2013 3:28:02 PM
8/22/2012 7:54:59 AM
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• <br />0 <br />RESOLUTION NO. I -14 <br />A RESOLUTION OF THE FULLERTON INDUSTRIAL' <br />DEVELOPMENT AUTHORITY AUTHORIZING AND <br />APPROVING AMENDMENT NO. ONE TO THE <br />IRAN AGREEMENT, SUPPLEMENT NO. ONE <br />TO THE INDENTURE, AN AMENDED AND <br />RESTATED REMARKETING AGREEMENT, THE <br />REPLACEMENT OF THE REMARKETING AGENT, <br />AND THE REPLACEMENT OF THE INDEXING <br />AGENT, ALL RELATING TO THE SUNCLIPSE, <br />INC. INDUSTRIAL; DEVELOPMENT BONDS. <br />WHEREAS, the Fullerton Iridustria2 De1 e7pgpidyC Authority (the "Authority ") <br />IS has previously approved the issuance of $7,000,000 Variable Rate Demand <br />'Di titrial Develipuezl( Revenue Bonds (Sunclipse, Inc. Project) - Issue A of 1985 <br />(the "Bonds") in order to provide financing to Sunclipse, Inc., a California <br />corporation, for the acquisition and construction of manufacturing and <br />distribution facilities located in the City of Fullerton; and <br />WHEREAS, the Indenture and the Loan Agreement for the Bonds must be <br />amended to provide for rating agency concerns arising out of the previous <br />substitution of First Interstate Bank of California as Letter of Credit Bank <br />for Bank of America National Trust and Savings Association as the new Letter of <br />Credit Bank. <br />• WHEREAS, First Interstate Bank of California has resigned as the <br />Remarketing Agent and must be replaced by a new Remarketing Agent; and <br />WHEREAS, First Interstate Public Finance Co. has resigned as the Indexing <br />and must be replaced by a new Indexing Agent. <br />NOW THEREFORE, BE IT RESOLVED by the Authority as follows: <br />SECTION 1. The form of the Amendment No. One to the Loan Agreement, the <br />• Supplement No. One to the Indenture and the Amended and Restated Remarketing <br />Agreement presented at this meeting are hereby approved and the Chairman or in <br />the absence of the Chairman, any other member of the Authority with the Secretary <br />attesting, are hereby authorized and directed, for and in the name of the <br />Authority, to execute said documents in substantially the form hereby approved, <br />with such non - substantive changes herein as the officers executing, the same may <br />approve, such approval to be conclusively evidenced by the execution and delivery <br />thereof. <br />SECTION 2. Morgan Stanley & Co. is hereby approved and appointed as the <br />new Remarketing Agent for the Bonds to replace First Interstate Bank of <br />California. <br />SECTION 3. Morgan Stanley & Co. is hereby approved and appointed as the <br />new Indexing Agent for the Bonds to replace First Interstate Public Finance Co. <br />• <br />
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