1983-081 Agreement Economic Development Corp Issue Bonds Elixir Industries31'7
RESOLUTION NO. 81
A RESOLUTION APPROVING AN AGREENID.~1T OF
THE ECONOMIC DEVELOPMENT CORPORATION TO
ISSUE BONDS FOR ELIXIR INDUSTRIES
Wf~REA.S The Econcanic Develo~nent Corporation of the City of
Meridian (the "Corporation") has filed with this City Council a
resolution and a Preliminary Agreement relating to the issuance by the
Corporation if its revenue bonds pursuant to Title 50, Chapter 27 of the
Idaho Code, as amended (the "Act"), to finance the expansion and
rehabilition of certain industrial development facitities (the "Project")
to be used by E~ilir Industries (the "Applicant"); and
WIIEREA.S this City Council has considered such resolution
and such Preliminary Agreement and has considered information relating
to the Project and the financing thereof 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 Preliminary
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
requirements under the Act.
SPCtion 2. This Resolution shall take effect inBnediately
upon its passage.
The foregoing Resolution was passed and adopted by the
City Council of the City of Meridian on March 21st, 1983 by the
following vote.
AYES: 3
NAYS: 0
Absent: 1
p~c/%. ~
City Cler