Reso 2001-059 - Laserfiche WebLink

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' t RESOLUTION NO.2001IDB-2 Exhibit A RESOLUTION OF THE CALIFORNIA STATEWIDE C014~TIES DEVELOPMENT AUTHORITY MAi~NNG DETERIl~TATIONS WITH RESPECT TO THE FINANCING OF FACILITIES AND DECLARING ITS OFFICIAL INTENT TO • UNDERTAKE THE FINANCING AND TO REIlVIBURSE ~CERTAl11T. CAPITAL EXPENDITURES FROM PROCEEDS OF Borrower: Kennerley-Spratling, Inc. or an affiliate Obligation: Notes, Bonds or any other evidence of indebtedness Maximum _ Principal Amount: $5,000,000 • Activities and Uses of the Project: In a manufacturing facility or facilities that manufactures and assembles plastic injection molding and related products Anticipated• Public Benefits: (a) Employment benefits (within the meaning of Section 91502.1(b)(1) of the Act) by securing or increasing the number of employees of the • Borrower and any other direct users of the Project or the compensation for such employment. (b) Consumer benefits (within the meaning of Section 91502.1(b)(3) of the Act) by improving the quantity or quality or reducing the price of products, energy or related services or facilities, and by producing . new or improved products or related services or facilities. WHEREAS, -the California Statewide Communities Development Authority (the "Issuer") is authorized and empowered by the provisions of Title 1, Division 7, Chapter 5 of the Government Code of the State of California to issue its Obligations pursuant to the California Industrial Development Financing Act, as amended and supplemented (the "Act"), for the purpose of financing certain costs of a project, as that term is defined in the Act; and WHEREAS, the Borrower desires to acquire, construct, rehabilitate and improve property, including real and personal property, to be used as, or as a part of, a manufacturing facility (the "Project"); and WHEREAS, the Borrower is willing to acquire, construct, rehabilitate and improve the Project upon the issuance by the Issuer of the Obligation to finance the Project pursuant to the Act; and WHEREAS, the Borrower has heretofore submitted, and this Commission has accepted, an application requesting financing for the Project; and . WHEREAS, the Issuer may not issue the Obligation to finance the Project until this Commission makes certain determinations with respect to public benefits and qualification of the Project as required by the Act; and • WHEREAS, this Commission has carefully considered and discussed the information contained in the Borrower's application and other information necessary to make such determinations; and cscnn-BOms-mrovcaxas ~sr~~