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<br /> RES 0 L UTI 0 N NO. 12 <br /> ---------- <br /> A RESOLUTION EXPRESSING THE INTENT OF THE CITY <br /> OF LOUISVILLE TO ISSUE INDUSTRIAL DEVELOPMENT <br /> REVENUE BONDS TO FINANCE A PROJECT FOR <br /> CALIFORNIA DEVICES, I NC . , A CALIFORNIA <br /> CORPORATION. <br /> WHEREAS, the City of Louisville in the State of Colorado <br /> (the "City"), is authorized by the County and Municipality <br /> Development Revenue Bond Act, cons tit uti ng Title 29, Article 3, <br /> Part 1, C.R.S. (the " Ac t" ) , for the benefit of the inhabitants of <br /> the State and for the promotion of their health, safety, we I far e , <br /> convenience, and prosperity, to finance one or more projects, <br /> including any land, bu ilding or other improvement and all <br /> necessary and appurtenant real or personal properties suitable for <br /> manufacturing, industrial, commercial, agricultural, or business <br /> enterprises, upon such conditions as the City Council (the <br /> "Council" ) of the City of Louisville may deem advisable; and <br /> WHEREAS, the Council is further authorized by the Act to <br /> issue its revenue bond s or other obligations for the purpose of <br /> defraying the cost of financing any such project; and <br /> WHEREAS, representatives of California Devices, Inc. , a <br /> California corporation (the "User") have met with officials of the <br /> City and have advised the City of the User's interest in acquiring <br /> and rehabilitating an approximately 64,000 square foot fully <br /> integrated semi conduc tor manufacturing facility, including all <br /> necessary and appurtenant real and personal property, all located <br /> within the boundaries of the City (the "Project"), subject to the <br /> willingness of the City to finance the Project by the issuance of <br /> industrial development revenue bonds or other obligations pursuant <br /> to the Act: and <br /> WHEREAS, the User has represented to the City that the <br /> Pro j ect has been des igned to qualify as a "project" within the <br /> meaning of the Act: and <br /> WHEREAS, the User has designated Kirchner, Moore & <br /> Company, of Denve r, Colorado, to act as the underwriter of the <br /> proposed bond issue; and <br /> vvHEREAS, the City has considered the User's proposal and <br /> has concluded that the benefit to the City will be substantial due <br /> to an increase in employment and the promot ion of industry and <br /> development of trade and other economic activity within the City; <br /> and <br /> WHEREAS, the City wishes to proceed with the financing <br /> of the Project: and <br /> - 2 - <br />