HomeMy WebLinkAboutRES.166.12-18-1985 BILL N0. 85-122 RESOLUTION NO. ���
A RESOLUTION APPROVING A PROJECT OF THE
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE
COUNTY OF CAPE GIRARDEAU, MISSOURI , TO BE
LOCATED IDI 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 November 7 , 1985 , has approved a Project for
Fountainbleau of Cape Girardeau , Inc. , a Missouri Corporation
( the "Borrower" ) , to be located in the City of Cape Girardeau ,
I�issouri , consisting of the acquisition of real estate located
on Highway 61 in the City of Cape Girardeau , Missouri , and the
construction and equipping thereon of an approximately sixty
( 60 ) bed nursing home, including real estate, buildings ,
structures , improvements , fixtures , machinery and equipment
relating thereto ( the "Project" ) , at a cost of approximately
$1 , 200 ,000 , to be financed by the issuance by the Authority of
Industrial Development Revenue bonds under the Act in a
principal amount not to exceed $1 ,200 ,000 ; and
WHEREAS, Section 349 .010 of the Act provides that project
of an industrial development authority of a county may be
located within the incorporated limits of a municipality within
such county with the permission of the governing body of such
municipality; and
WHEREAS, the Authority has requested the City Council of
the City of Cape Girardeau 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.
NO4�, THEREFORF., BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF CAPE GIRARDEAU, MISSOURI , AS FOLLOWS:
SECTION 1 . The Council of the City of Cape Girardeau ,
Missouri hereby approves the Project in accordance with the
requirements of Section 349 . 010 of the Act and grants its
permission to the Authority to proceec� with the financing and
construction of the Project through the issuance of the
:.1 � t �
Industrial Development Revenue Bonds of the Authority in the
principal amount not to exceed $1 ,200 ,000 to be issued pursuant
to the Act .
PASSED AND ADOPTED THIS �L��� DAY OF , 1985 .
�'cm'7�'�,( .� . - f"--a-�-^,_
Howard C . Tooke, Mayor
ATTEST:
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A vin M. Stoverin , Ci�ty C erk