HomeMy WebLinkAboutRES.2565.10-04-2010BILL NO. 10-129 RESOLUTION NO.
RESOLUTION APPROVING A PROJECT FOR CAPE
RETIREMENT COMMUNITY, INC. TO BE FINANCED BY
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE
COUNTY 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 $10,000,000
principal amount of bonds of the Authority for the purpose of (1)
acquiring, remodeling, expanding, improving and equipping the
Borrower's existing facility at 3120 Independence Street (the
"Project"), (2) refinancing existing loans of the Borrower, the
proceeds of which were used to improve the Borrower's existing
facility at 3120 Independence 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;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Cape Girardeau, Missouri, that the Project is hereby approved and
the Council grants its permission to the Authority to proceed
with the issuance of not to exceed $10,000,000 principal amount
of bonds for the purposes described above.
PASSED AND ADOPTED THIS �7 DAY OF �� , 20 / G'
H y E. edi r
ATTEST: _----