HomeMy WebLinkAboutRes.2855.12-01-2014BILL NO. 14-185
RESOLUTION NO. 66
A RESOLUTION APPROVING A PROJECT OF THE INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE COUNTY OF CAPE GIRARDEAU,
MISSOURI, FOR GIBSON RECOVERY CENTER, INC., LOCATED IN
THE CITY OF CAPE GIRARDEAU, MISSOURI
WHEREAS, the Industrial Development Authority of the County
of Cape Girardeau, Missouri (the "Authority") is proposing a
project involving the issuance of not to exceed $1,200,000.00
principal amount of bonds of the Authority for the purpose of (1)
repairing, improving, and equipping existing facilities of
Gibson Recovery Center, Inc. (the "Borrower") located at 1281
County Road 638 and 1112 Linden Street (the "Project"),
(2) refinancing existing loans of the Borrower, the proceeds of
which were used to acquire the Borrower's existing facilities at
1281 County Road 638 and 1112 Linden Street, and (3) paying
costs of issuance of the bonds; and
WHEREAS, Section 349.010 of the Revised Statutes of Missouri
requires that projects of an industrial development authority of
a county must be located wholly within an unincorporated area of
such county, except that such projects may be located within the
corporate limits of a municipality within such county when
approved by the governing body of the city;
WHEREAS, the Company has requested the City Council to
approve the Project; and
WHEREAS, the City Council hereby finds and determines that
the Project will promote the economic welfare and the
development of the City of Cape Girardeau, Missouri, and will be
in furtherance of the public purposes set forth in the Act.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Cape Girardeau, Missouri, that the portion of the Project located
within the City of Cape Girardeau is hereby approved and the
Council grants its permission to the Authority to proceed with
the issuance of not to exceed $1,200,000.00 principal amount of
bonds for the purposes described above.
PASSED AND ADOPTED THIS � day of December, 2014.
(SEAL)
ATTEST:
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Gziylej L. Conrad, City Clerk
Harry E. Rediger, Mayor
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