1984-085 Agreement Economic Development Corp Issue Bonds - Lynn324
RESOLUTION NO. 85
A RESOLUTION APPROVING AN AGREEMENT OF
THE ECONOMIC DEVELOPMENT CORPORATION TO
ISSUE BONDS FOR DAVID M. LYNN AND JOY LYNN
WHEREAS, the Economic Development Corporation of the City
of Meridian (the "Corporation") has filed iwth this City Council
a resolution and a Memorandum of Agreement relating to ,the
issuance by the Corporation of its revenue bonds pursuant 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 David M. Lynn and Joy Lynn (the
"Applicant"), which are to be leased to Lynn Industrial Coatings,
Inc. for the application of high technology coatings; and
WHEREAS, this City Council has considered such resolution
and such Memorandum of 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 Memorandum
of Ac~~em~xt~ between the Corporation and the Applicant, and
approves the determination of the Coporation to issue revenue
bonds to finance costs of the Project, subject to fulfillment of
all requirements of 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 16th day of January, 1984.
Ayes: 4
Nays: 0
Absent: 0
~Gr
G T P. KINGSFORD, MAYOR
ATTEST:
Ja k- Aliemann City Clerk
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