IDA85-01RESOLUTION NO. IDA85-1
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED
$2,500,000 PRINCIPAL AMOUNT OF INDUSTRIAL DEVELOPMENT
AUTHORITY OF ANAHEI~ INDUSTRIAL REVENUE BONDS
(RUSS BERRIE PROJECT)
WHEREAS, the Industrial Development Authority of Anaheim
(the "Authority") is authorized pursuant to the California
Industrial Development Financing Act, California Government Code
Section 91500 et seq. (the "Act") to issue its industrial revenue
bonds for the purpose of financing certain types of projects
specified in the Act; and
WHEREAS, Russ Berrie (the "Company") on behalf of Russ
Berrie and Company Los Angeles, Inc. has requested the Authority
to issue and sell its industrial revenue bonds for the purpose of
providing financing for the construction of a warehousing and
related facility to be located on a 2-1/4 acre site near
Industrial Avenue and Hancock Street in the City of Anaheim; and
WHEREAS, the Authority proposes to issue certain bonds (the
"Bonds") pursuant to an indenture of trust (the "Indenture") and
make a loan to the Company pursuant to a certain loan agreement
("the Loan Agreement").
NOW, THEREFORE, BE IT RESOLVED AND ORDERED by the Industrial
Development Authority of Anaheim:
1. Thel Bonds are authorized in the principal amount of not
to exceed $2,500,000 to be issued pursuant to the Indenture, in
substantially the form submitted to the Authority at this
meeting, which Indenture and form of Bonds is hereby approved.
The Executive Director is hereby authorized and directed to
attest and affix the seal of the Authority to the Indenture for
and in the name and on behalf of the Authority. The Executive
Director'~ signature thereto slgni~ies approval o~ the changes in
the Indenture form presented herewith.
2. The certain agreement entitled "Loan Agreement", by and
between the Authority and Russ Berrie, in substantially the form
presented to the Authority at this meeting, is hereby approved.
The Executive Director and the Secretary of the Authority are
hereby authorized and directed to sign and attest and affix the
seal of the Authority to the Loan Agreement for and in the name
and on behalf of the Authority.
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3. Waiver of Personal Liability. No official,
Boardmember, agent of employee of the Authority shall be
individually or personally liable for the payment of the
principal of or interest on the Project Bond; but nothing herein
contained shall relieve any such official, Boardmember, agent or
employee from the performance of any official duty provided by
law.
4. Authorization to Prosecute Validation Proceedinqs.
Jones Hall Hill & White, a Professional Law Corporation, as bond
counsel to the Authority in connection with the Project Bond and
Project is hereby authorized and directed to, or cause to be,
instituted and prosecuted to completion any proceedings in the
local Superior court deemed necessary by such firm to obtain a
judgment upholding the validity of the Project Bond being issued
hereunder.
5. Effective Date. This Resolution shall take effect from
and after the date of its passage and adoption.
APPROVED, PASSED and SIGNED this 29th
1984.
day of January ,
CHAIRMAN
INDUSTRIAL DEVELOPMENT AUTHORITY OF ANAHEIM
ATTEST:
Secretary
oC
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, Secretary of the Industrial Development Authority of
Anaheim, do hereby certify that the foregoing Resolution No. IDA85-1 was
passed and adopted at the regular meeting of the Industrial Development
Authority of Anaheim held on the 29th day of January, 1985, by the following
vote of the members thereof:
AYES:
NOES:
ABSENT:
AUTHORITY MEMBERS:
AUTHORITY MEMBERS:
AUTHORITY MEMBERS:
Kaywood, Bay, Pickler, Overholt and Roth
None
None
AND FURTHER CERTIFY that the Chairman of the Industrial Development Authority
of Anaheim signed said Resolution on the 29th day of January, 1985.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 29th day of
January, 1985.
(SEA~)
SECRETARY OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF ANAHEIM