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i ' i 'J I : ; ! ) N I I !. ! I 'U \! III! ) J n J d (. U: f! tin ,) d n "A P p 1 i cat ion for Fin cI n Ll alP d r tic 1 pat ion" t\ .' L ~.~ t \ . , \ \- 1 f' . ~ '~. " - . _~ 1" . :'I,t),ltlll\:J IJY ',At. I<ro..t...-._(o...--.--.-.--. .._. In.reldtlon to an inluJtl'J,li ckveh!f!liil'nt 111~jel.t; Illdking a COilllliitment to flrlcHICl' the costs of suetl I" Let; drill dPfJrUY lllCJ dlld ductlorizing the execution of a i.1elliOr<.1ndulll o t 1".) r't:Ulll'll t III l.()rlf\C:L t Ion they'l'w i th. WHLRl:i\~, TI..e- /(I-b ~J- Ca." . ._... (herein<.1fter referred to as the "Company') has subl!litted LU Ule lit/Jot San r"1dY'COS Industrial Development Corporation (hereln- aft e r c a 1 h: (j Ul e "C 0 Y P u Y'd t ion") ,Hi "A P p 1 i cat ion for Fin a n cia 1 Par tic i pat ion ," tog e the r' with certdill uther UUll1JIJents seeking finJncial clssistance from the Corporation in connectloll \-Jiltl the Jl'1uisition Jnd construction of facilities to be operated ond Illaintained by ttlt:' CUlllpany (hel'einafter referred to as the "Project") and used or useful in its trade Or' bu::.iness to wit: .....p. t ^F I V l!'r-t;. f.~ w W.::re ~v..) ~v WHEREil,S, the GOdY'd of Directors of the Corporation hereby finds and deternlines that the COlllpany has cOJilplied with the preliminary tiling requirements prescribed in the CarpUI'ation's "Local Regulations for Receiving and Approving Applications for Financial Participation in Development P~'ojects" (the "Regulations and any requirements which have not been IlIet are, by the adoption hereof, waived, and the Company has demonstrated with reas~onable cer'tainty that (1) the Project sought to be financed by the Corporation qualifies and meets the requirements of the Development Corporation Act of 1979 and will accomplish the specific public purposes of the Corporation and (i i) all governlllentd 1 approvals with Y'espect to the Proj ect and the issuance of obligations by the Corporation, includiny those requirements specified in the Regula- tion, will be obtained; and WHEREAS, the Board of Directors of the Corporation further finds and determines that a commitment should be given to the Company to issue the bonds of the Corporation in such aggregate principal amount necessary to finance and pay the costs of acqui- sition and construction of the Project (now estimated to be $ IV, CO". oc~. "D ), therefore, BE IT RESOLVED BY TflE BOARD OF DIRECTORS OF THE CITY OF SAN MARCOS INDUSTRIAL DEVELOPMENT CORPORATION: SECTION 1: That the "Application for Financial Participation submitted by the Company is hereby approved and accepted and the Corporation shall be and is hereby' committed and agrees in accordance with the provisions of the Development Corporation Act of 1979 (the "Act) as follows: a) To adopt a bond resolution or bond resolutions when requested by the Company, authorizing the issuance of revenue bonds (the "Bonds") in one or more series in an aggregate principal amount necessary to finance and pay the cost of acquisition, construction and ifnprovement of the Project (but in no event to exceed $10,000,000) and the cost of issuance, subject to (i) the requirement of the Act, (ii) the execution of the appropriate agreefllents or contracts as described in Section l(b) below, and (iii) the sale of the Bonds under terms and conditions satisfactory to the Corporation and the Company.