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Officers responding to a prowler call around 5 a.m. Sunday found the suspect and the car -- loaded with weapons, ammo and an ingredient that could be used to create a pipe bomb, the Los Angeles Times reported.
It had Indiana license plates, the report said.
A Santa Monica police spokesman said authorities “were not aware of what the suspect’s intentions were at this point.”
"We're assisting our local partners," Los Angeles FBI spokeswoman Laura Eimiller told CNN.
Although there was talk of cancelling the parade, authorities added more security instead.
An afternoon news conference was planned.
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