1984-086 Agreement Economic Development Corp Issue Bonds - Newberry325
RESOLUTION NO. 86
A RESOLUTION APPROVING AN AGREEMTN 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 a Memorandum or 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 Newberry Enterprises, a General
partnership, (the "Applicant") and leased to Jadamill Tool Cor-
poration for the manufacture of carbide cutting tools; 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 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.
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,
by the following vote.
AYES: 4
NAYS: 0
ABSENT: 0
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GRANT P. KINGSFORD, MAYOR
ATTEST:
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Jack iemann, C' y Clerk
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