HomeMy WebLinkAboutRES.537.07-02-1990 .
BILL N0. 90-146 RESOLUTION N0. �� �
A RESOLUTION APPROVING THE LOCATION OF THE
TERRACE GARDENS CAPE GIRARDEAU PROJECT WITHIN THE
CITY OF CAPE GIRARDEAU AND FINANCING THE PROJECT
BY THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE
BONDS IN THE PRINCIPAL AMOUNT OF �1 ,195 ,000
WHEREAS, the Industrial Development Authority of the County of
Cape Girardeau , Missouri , (the "Authority" ) proposes to issue its
Industrial Development Revenue Bonds ( the "Bonds " ) , ( Terrace
Gardens Cape Girardeau Project ) , in principal amount of
approximately $1 , 195 ,000 , the proceeds of which are to be loaned
to Terrace Gardens Retirement Center , Inc . , a not-for-profit
Kansas Corporation , to finance a project ( the "Project " ) as
provided by the Industrial Development Corporations Act of the
State of Missouri ; and
WHEREAS , the Project is to be located in the City of Cape
Girardeau , Missouri ; and
WHEREAS , Chapter 349 . 010 ( 4 ) , RSMo requires that projects of a
county authority , such as the aforesaid Industrial Development
Authority, shall be approved by the governing body of a
municipality when such projects are located within the
incorporated limits of the municipality ; and
P�HEREAS, this body constitutes the governing body of the City
of Cape Girardeau , Missouri , and this body considers it to be in
the interest of the City of Cape Girardeau, Missouri , and the
inhabitants thereof that the Project be located in such
municipality;
NO4,1, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
CAPE GIRARDEAU, MISSOURI, AS FOLLOWS:
That the proposed location of the Project within the City of
Cape Girardeau, Missouri , and the financing of the Project by the
issuance of The Industrial Development Authority of the County of
Cape Girardeau , Missouri of its Industrial Development Revenue
Bonds in principal amount of approximately $1 ,195 ,000 , are hereby
approved .
PASSED AND ADOPTED THIS � DAY OF , 19 �U
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ATTEST: David S. Limbaugh, Mayor Pro Tem
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Depu y Ci t y Cl er k