HomeMy WebLinkAbout1983 Resolution No. 029 [TABLED]RESOLUTH~• 00. 29
SERIES OF 1983
T/\BLED M ' THE 6 -6-83 MEETING, TO BE RECONSIOEREO
7-5-83. AT THE JULY 5, 1983 1.EETING, THE CITY
MANAGER EXPLAINEO THAT FARM ANO HOME FOODS , INC .
HAD NOT PROVIOEO THE REQUIRED ADDITIONAL INFORMATION .
RESOLUTION NO. 29, WAS NOT AOOPTEO OR APPROVEO BY
CITY COUNCIL
A RESOLUTION SE:TI'ING FORTH 1l!E CITY OF ENGLEWOOD 'S IN'fEN'f TO I SS UE
INDUSTRIAL DEVELOPMEN'f REVENUE BONll5 FOR FARM & Ha,\E FOOll5, INC .
WHEREAS , representatives of Farm & Home Foods , Inc., a
Colorado corpor ation (the "Compa ny"), have met with officials of
the Ci ty of Enql e lo.l:>Od , Colorado (the "City"), and have advised the
City of the i nterest of the Company in loc, ting a new warehou.se and
office facili t y within the City, subj ect to the willingness of the
City to finance the cost of the equiµnent there in (the "Project"),
as an industrial de veloµne nt bond proj ect , pursuant to the Colorado
Co unty and Municipality Develoµnent Revenue Sond Act constituting
Article 3 , Title 29 , Colorado Revised SLatutes 1973 , as ame nded
(the "Act"); and
WHEREAS , the City Council has considered the proposal and
has concl uded that the econom i c benefit,; to be de rived the refrom by
the Ci ty will tx, substantial; and
WHEREAS, th~ City Council desires to indicate its intent to
proceed with financing the Project th r ough the issuance of such
r eve nu e bonds ; and
WHEREAS , a public hearing on the issuance o f the Tndustrial
Dev eloµnent Reven ue Sonds wa s held on the 5th day of July , 1,83.
NO,/, THEREFORE , BE IT RESOLVED BY 'rnE CITY COUNCIL OF 'rnE
CITY OF ENGLEWOOD , COLORAIXJ :
Section l. In order to i nduce the Company to locate the Proj ec t
within the Ci ty, the City shall take a ll neces sa r y or advisabl e
steps to effect the issuance of industrial develoµnen t revenue
bonds pursuant to the Act in the maximum aggregate principal amo unt
of $900 ,000 or such l esse r amount as all be determined a nd agreed
upon by the Company and th~ City to finance the Project.
Secticn , • No costs or expenses shall be borne by the City in
connectio n with the issuance of the industrial devel o?nent revenue
bonds , the prepa r ation of any docunents r e a ting ther e to, or any
legal or fina ncial consultants retained in con nection therewith .
Section 3 . Prio r to any exec utio n o f a financing agreement, bond
purchase agreement or any other necessary documents and ag reements
i n connection with such bonds , such docume nts a nd/or agreements
shall be subject to au t ho rization by o rdinance of the City Coun c il
pursuant to law.
Section 4, All orders, bylaws and resolutions, or parts there-,f,
in conITTct with this r esolution are hereby r epealecl. This
r epealer shall rot be construed to revive any order, bylaw o r
resolution, or part thereof, heretofore repealed.
Section 5 . If any section, paragraph , clause or provision ol this
r esolutio n shall for any reason be held to be invalid or unenforce-
able , the i nva lidity or unenforceability of suc h section, para-
qraph , clause or provision shall rot aifect any of the remaining
provisions of this resolution.
Section 6. Neither the bond s , including inte rest and any pl'emiums
thereon, ror anything with resf,Ect to the Industrial Develo?,.ent
Bond Project shall constitute a debt or indebtedness of the City
within the meaning of the Cons t itution or s t atutes of the State of
Co lorado, ror give rise to a pe c uniary liability of the City or a
cha r ge agai nst its qene r al c redit or taxing powers. the be>nds
shall be payable solely from and secured b1 a pledge o f the
revenues derived from and payable purs uant to the financ i ng plan o f
the compa ny .
Section 7 . Thi s resolution shall take effec t immed iatel y upon its
introduction and passage.
f ,,,' E~~ene ~
Eugene L. Otis , Mayor
At test :
ex o ff1c10 Ci ty Clerk-Treas ur er
I , Gary R. Hiqbee , ex offici o City Cler k-Tr easurer of the
City of Eng lew1JOd , Co lo r ado , he reby certify that the above and
fo r egoing is a t rue, acc ur a te and complete copy of Resolut i on
No.29 , Series of 1983 .
NOT ADO PTED ;
NOT APPROVED.
I