HomeMy WebLinkAbout1984-086A Amended Agreement EDC Issue Bonds - NewberryT328
CITY COUNCIL OF THE CITY OF MERIDIAN
AMENDED RESOLUTION NO. 86A
AN AMENDED RESOLUTION APPROVING AN AMENDED
AGREEMENT OF THE ECONOMIC DEVELOPMENT
CORPORATION TO ISSUE BONDS FOR DALE NEWBERRY
WHEREAS, the Economic Development Corporation of the City of
Meridian (the."Corporation.") has filed with this City Council a
resolution and an Amended Memorandum of Agreement. relating to the
issuance by the Corporation of its revenue bonds pusuant to Title 50,
Chapter 27 of the Idaho Code, as amended (the "Act") to finance the
purchase of land and the construction of facilities to be constructed
and owned by Newberry Enterprises, a General partnership, (the "Appli-
cant") and leased to Jadamili Tool Corporation for the manufacture of
carbide cutting tools; and
WHEREAS, This City Council has considered such resolution and
such Amended Memorandum of Agreement and has considered information
relating to the Project and the financing therof by the Corporation;
NOW,_THEREFORE, the ..City Council of the City of Meridian does
resolve as follows:
Section 1. The City Council hereby approves the Amended Memoran-
dum of Agreement between the Corporation and the Applicant,. and
approves the determination of the Corporation to issue revenue bonds
to finance costs of the Project, subject to fulfillment of all re-
quirements under the Act.
Section 2. This Resolution shall take effect immediately upon
its passage.
The foregoing Resolution was passed and adopted by the City
Council of the City of Meridian on the 21st day of May, 1984, by
the following vote:
AYES: 4
NAYS: 0
ABSENT: 0
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V
ATTEST: Grant Kingsford MA R
Jac]c~.Niemann, fL'ity Clerk