HomeMy WebLinkAboutRES.152.08-07-1985 �.
BILL NO. 85-71 RESOLUTION N0. ���
RESOLUTION APPROVING THE THORNGATE PROJECT
OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE COUNTY OF CAPE GIRARDEAU, MISSOURI , TO
BE LOCATED IN THE CITY OF CAPE GIRARDEAU,
MISSOURI
WHEREAS, pursuant to the authority of the Industrial
Development Corporations Act, Chapter 349 of the Missouri
Revised Statutes , as amended ( the "Act" ) , The Industrial
Development Authority of the County of Cape Girardeau , Missouri
( the "Authority" ) , by Resolution adopted by its Board of
Directors on March 7 , 1985 , has approved a Project for
Thorngate , Ltd . , a division of Hartmarx Corporation, a Missouri
corporation ( the "Company" ) , to be located in the City of Cape
Girardeau, Missouri , consisting of a manufacturing plant,
including real estate , buildings , structures , improvements ,
fixtures , machinery and equipment ( the "Project" ) at a cost of
approximately $1 ,750 ,000 , and to be financed by the issuance of
revenue bonds under the Act in a principal amount of
approximately $1 ,750 ,000 , said bonds to be payable solely out
''� of the payments , revenues and receipts derived from the loan of
the proceeds of said bonds to the Company; and
WHEREAS, Section 349 .010 of the Act provides that projects
of an industrial development authority of a county may be
located within the incorporated limits of a municipality within
such county when approved by the governing body of such
municipality; and
WHEREAS, the AutYiority has requested the City 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 City Council hereby
approves the Project and grants its permission to the Authority
to proceed with the finance and construction of the Project
through the issuance of the revenue bonds of the Authority in a
r-.
r�., principal amount of approximately $1 ,750 ,000 to be issued
pursuant to the Act .
PASSED AND ADOPTED THIS _�' r�icL-- DAY OF ► 1985 .
� 1 e �.
'�i�✓tr'�iZ�( �. ��� v--a-z-�.
Howard C . Too e, Mayor
ATTEST:
N-
Ev yn . LeGrand
Deputy City Clerk
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