IDA81-04RESOLUTION NO. IDTul$1-4
A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF ANAHEIM ESTABLISHING PROCEDURES
FOR THE PROCESSING OF APPLICATIONS.
WHEREAS, the Industrial Development Authority of Anaheim
is authorized to establish policies for the acceptance by this
Authority of applications for financing authorized by the California
Industrial Development Financing Act (found at 91500 et seq. of the
Government Code and hereinafter referred to as the "Act").
NOW, THEREFORE, IT IS ORDERED that the following policies
shall govern the acceptability of applications for financing and
the further processing of such applications:
1. Application
(a) Form. Pending adoption by this Board of a form
of application recommended by the California Industrial
Development Financing Advisory Commission, application for
financing pursuant to the Act may be made by supplying the
items and answering the questions in the form entitled
"Industrial Development Authority of Anaheim-Application for
Financing," a copy of which is on file with the Secretary,
and by providing a summary of the proposed financing which
generally describes the project agreements and any inden-
tures, provides a current estimate of the maximum principal
amount of bonds, their maturities and the coupon interest
rate, generally identifies the proposed bond purchaser or
other financier if a more specific identification cannot at
the time be made, appropriately indemnifies the Authority
and the City of Anaheim from personal injuries, property
damage or other liability relating to the project and faci-
lities and agrees to provide an appropriate indemnification
with respect to securities matters, provides for the possi-
bility of termination of any Authority obligation to enter
into project agreements including payment or reimbursement
of administration expenses, and covers such other matters
as are recoramended by the Authority's bond counsel and other
advisors or consultants with respect to the particular
proposed project.
(b) Filing. The application and any supplements or
amendments shall be filed by applicant applying for finan-
cing with the Secretary, together with the application fee
then due.
(c) Application Fees. Application fees are hereby
established and shall be payable by applicants applying
for financing as follows:
(i) An initial payment of $1,250.00 upon the
application fee shall be payable to the Authority at the
time of filing the application.
(ii) Subsequent payments upon the application
fee shall be payable to the Authority upon written notifi-
cation that the Authority has incurred or paid expenses
related to the application, including, but not limited to,
publication costs under Section 91530 (d) of the Act,
amounts due advisors to the Authority for assistance in
review of the application, and amounts due the City of
Anaheim for personnel and other items and shall be in the
amount of such expenses incurred or paid.
(iii) The application fee shall not exceed the
maximum amount authorized by Section 91527 (o) of the Act.
(iv) The Authority need not further process any
application with respect to which application fees are due
and unpaid.
(v) The filing of an application shall be deemed
to constitute the agreement of the applicant so filing that
the application fee will be paid as it or any portion be-
comes due.
(d) Other Approvals. The applicant filing an applica-
tion is responsible for compliance with all requirements of
law with respect to the project which are not the obligation
of the Authority under the Act, including, but not limited to,
planning, zoning, environmental and other requirements.
Separate applications and additional fees may be required for
such other approvals.
(e) Copies. It shall be the obligation of applicant
to provide as many duplicates of the application as may from
time to time be required.
2. Preliminary Consultation
Applicants desiring to apply for financing pursuant
to the Act shall be encouraged to consult with the Anaheim
Economic Development Corporation (AEDC) prior to filing an
application. The Authority may seek advice or consultation
from the AEDC or other individuals or organizations concern-
ing any application.
3. Priorities and Criteria
The Authority may establish priorities and criteria
for making available the financing authorized by the Act.
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4. Further Proce ssinq
(a) Inducement Resolution. Upon acceptance of an
application as in accord with the policies and other
principles of this resolution, the Board will consider
making the determinations required by Section 91530 (c)
of the Act to be made and will make affirmative deter-
minations thereunder by the adoption of a resolution
of determination and of intention to undertake the pro-
ject and to issue bonds therefor.
(b) Public Notice. The Authority will file the
application, as supplemented or amended, with the City
of Anaheim and will cause notice to be published under
Section 91530 (d) of the Act.
(c) Application to State. After the adoption of
the resolution of determination and of intention to under-
take the project and to issue bonds therefor, the approval
of the City of Anaheim, and the expiration of 30 days from
publication of the notice, the Authority will make appli-
cation to the California Industrial Development Financing
Advisory Commission for the determinations required to be
made by Section 91531 of the Act.
(d) Administration Expenses. Project agreements
between the applicant and the Authority shall provide for
the payment or reimbursement by the applicant of all
administration expenses incurred or paid by the Authority
upon making application to the California Industrial
Development Financing Advisory Commission and, subsequently,
including any fees and expenses incurred or paid by the
Authority in connection with such application, to the ex-
tent that any such administration expenses are not paid or
reimbursed the Authority by application fees.
(e) Prior Application. In the discretion of the Board
and upon w'~itten request of the applicant accompanied by the
necessary fees and expenses, application to the California
Industrial Development Financing Advisory Commission may be
made prior to expiration of thirty days from publication of
notice, if the approval of the City of Anaheim is given
prior to that time.
(f) Partial Application. In the discretion of the
Board and upon written request of the applicant accompanied
by the necessary fees and expenses, application to the
California Industrial Development Financing Advisory
Commission may be made for one or more, but not all, of the
determinations provided to be made by Section 91531 of the
Act.
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(g) Bond Counsel. The costs advanced and certain expenses
designated in the employment agreement of Bond Counsel, as
well as the reasonable or agreed value of services rendered,
may become administration expenses of the Authority to be
paid or reimbursed by the company if ~he employment agreement
so provides.
(h) Supplements or Amendments. Applications may be supple-
mented or amended by applicants at any time provided such
supplements or amendments are not inconsistent with the
policies and other principles established by this resolution.
Each such supplement or amendment shall become a part of the
application without any further action by this Board if in-
substantial, in the opinion of the Executive Director of the
Authority, and, if it relates to one of the determinations
of Section 91531 of the Act, shall be furnished the California
Industrial Development Financing Advisory Commission by the
Secretary.
THE FOREGOING RESOLUTION is approved and adopted by the
Industrial Development Authority of Anaheim this 22nd day of
September, 1981.
CHAIRMAN PRO TEM
INDUSTRIAL DEVELOPMENT AUTHORITY
OF ANAHEIM
ATTEST:
INDUSTRIAL DEVELOPMENT AUTHORITY
OF ANAHEIM
MES:fm
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Industrial Development Authority of
Anaheim, do hereby certify that the foregoing Resolution No. ~IDAASt~4 x~s
passed and adopted at a regular meeting of the Industrial Development
Authority of Anaheim held on the 22nd day of September, 1981, by the following
vote of the members thereof:
AYES: AUTHORITY MEMBERS: Overholt, Kaywood and Roth
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY ME~ERS: Bay and Seymour
AND I FURTHER CERTIFY that the Chairman Pro Tem of the Industrial Development
Authority of Anaheim signed said Resolution on the 22nd day of September, 1981.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 22nd day of
September, 1981.
SECRETARaf OF THE INDUSTRI~kL DEVELOPMENT AUTHORITY OF ANAHEIM