1996 AGN NOV 05 I28 - Laserfiche WebLink

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SB2A\0001\D0C\297 10\10\96 1:00tj3 LOAN AGREEMENT THIS LOAN AGREEMENT is made and entered into as of 1996, by and among the SAN BERNARDINO INTERNATIONAL AIRPORT AUTHORITY, a joint powers authority organized and existing under the laws of the State of California (the "Authority"), THE COUNTY OF SAN BERNARDINO (the "County"), THE CITY OF SAN BERNARDINO ("San Bernardino"), THE CITY OF HIGHLAND ("Highland"), THE CITY OF COLTON ("Colton") and THE CITY OF LOMA LINDA ("Loma Linda"). The County, San Bernardino, Highland, Colton and Loma Linda are all public bodies, corporate and politic, duly existing under the laws of the State of California, and shall be collectively referred to herein as the "Lenders". W I T N E S S E T H: WHEREAS, the Authority is a joint powers authority, duly established and authorized to transact business and exercise powers under and pursuant to a Joint Exercise of Powers Agreement, as amended (the "Joint Powers Agreement") by and among the County, San Bernardino, Highland, Colton, Loma Linda and the City of Redlands ("Redlands"); and WHEREAS, Redlands has voluntarily withdrawn as a member of the Authority; and WHEREAS, the Authority was established for the purposes of acquiring, operating, repairing, maintaining and administrating the aviation portions of the former Norton Air Force Base, now known as the San Bernardino International Airport (the "Airport"); and WHEREAS, the Authority has the powers set forth in the Joint Powers Agreement and as provided in the Joint Powers Act, Chapter 5, Division 7, Title 2 of the Government Code of the State of California; and WHEREAS, the Authority desires to borrow money for the purpose of paying certain operating costs and other expenses of the Authority; and WHEREAS, the Lenders individually possess the legal ability and authority to loan funds to the Authority for the purposes specified above (the "Loans") and desire to do so; and - 1 - /1 MR