HomeMy WebLinkAbout1980 Resolution No. 038• ,-,!
•
•
•
•
RISCX.U'IIOB 38 Series of 1980
A aSSOLOTIOR 8BTTIRG PORT& TBB CITY OP
l•GLIWOOD'S I•TBBT TO 18808 IRDOSTRIAL
DSV-.0.llmT llSVIDB BOm>S fOR O. 8. DIDUftRIBS,
IllC.
WBSa1u, repreaentativ•• of o. s. Induatriea, Inc., a
D•l•ar• corporation (the •ec.pany•), bave •t witb officials of tbe
City of ln9l•ood, Colorado (tbe •city•), and have adYiaed the City
of tb• intereat of tbe Ccm:aanY in looatincJ a nw manufacturing facil-
ity within tbe City, aubject to tb• willintne•• of tbe City to
finance tbe coat of tbe equipment therein (tb• •project•), as an
induatr ial develc1:1a1nt bon&t project, puramnt to tb• Colorado County
and llunicipality Dwel.C)lmnt a.v.nue Bond Act constituting Article 3,
Title 21, Color.to a.imd Statut• 1973, u wnded (tbe •Act•); and
nmu, tb• City Council ha• conaidered tbe prop>aal and
baa concluded tbat the econcmic benef ita to be derived tberefrca by
the City will be aubatantial 1 and
Wiii.BAS, tbe City Council deair• to indicate its intent to
proceed vi tb financing the Project tbrougb tbe iunance of such reve-
nue bonda •
.. , '!lllJtBrOU, BB IT USCX.VID BY '!Ill CI'l'! CDJR::IL OP 'l'BB
cxn or DCJL.aoD, COLODDOa
Section 1. In order to induce tb• Company to locate the
Project within tb• City, tbe City •ball take all necessary or
advi•bl• atepa to •f feet tbe iaauance of induatrial development
•
•
•
revenue bond• pura uan t to tbe Act in tbe maxilla aggregate principal
•ount of $4 ,ooo ,ooo or auch l••r •ount u mall be detemined and
agreed upon by the Company and tbe City to finance the Project.
lection 2. Ho coata or expm-mall be borne by the City
in connection witb tbe iaauance of tbe induatrial development revenue
bond8, tbe pceparation of any docm1ent• relating thereto, or any
legal or financial conaultanta retained in connection tberewitb.
Section 3. Prior to any execution of a financing agree-
aent, bond purcbue agre-nt or any other neceaaiy docments and
agre .. ent• in connection witb aucb bond8, auch docwaent• and/or
agre•enta aball be aubject to authorisation by ordinance of tbe City
Council purauant to law.
Section 4. All order•, byl•• and r•olutiona, or part•
thereof, in conflict with tbi• reaolution are hereby repealed. 'l!li•
repealer aball not be conatrued to r•ive any order, byl• or reaolu-
tion, or part thereof, heretofore repealed.
Section 5. If any .. ction, pa09rapb, claue or provision
of tbi• reaolution aball for any reaaon be beld to be invalid or
unenforceable, the invalidity or unenforceability of •ucb aection,
paragraph, clauH or prcwiaion mall not affect any of the r-1nin9
proviaiona of thi• reaolution.
Section 6. 'l'bi• reaolution aball take effect i-.Siately
upon it• introduction and puNge •
. -· •
•
•
•
IRnODUCBD, RBAD, PASSBD AID) ADOPl'ID tbi• 18th of August
1980.
4.#«<&~~. . Mayor
(SBAL)
AttMta
V ~l!-P~ Clciert ex officio
1, Gary R. Higbee, ex officio City Clerk-Treasurer,
for the City of Englewood, Colorado, do hereby certify that the
above and foregoing is a true, accurate and complete copy of
Resolution No. 38, Series of 1980 •.