HomeMy WebLinkAboutRES.203.07-02-1986 � BILL N0. 86-100 RESOLUTION N0. a��
A RESOLUTION APPROVING A PROJECT OF THE
INDUSTRIAL DEVELOPMEPIT 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 Statut�s , 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 June 16 , 1986 , has approved a Project for
General Sign Company of Cape Girardeau, a Missouri corporation
( the "Borrower" ) , to be located in the City of Cape Girardeau,
Missouri , consisting of the acquisition of real estate located
at the eastern end of Rustmar Avenue in the City of Cape
Girardeau, Missouri , and the construction and equipping thereon
of an approximately 50 ,000 square feet metal building with
plastic forming and electronic cutting equipment for the
manufacture and servicing primarily of electrical signs,
including real estate, buildings , structures, improvements ,
� fixtures , machinery and equipment relating thereto ( the
"Project" ) , at a cost of approximately $1 ,750 ,000, to be
financed by the issuance of the Authority of industrial
development revenue bonds under the Act in a principal amount
not to exceed $1 , 750 , 000 ; 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 with the permission of the governing body of such
municipality; and
4dHEREAS, the Authority has requested the City Council of
the City of Cape Girardeau to approve the Project; and
4�HEREAS, 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 , AS FOLLOWS:
SECTION 1 . The City Council hereby approves the Project in
accordance with the requirements of Section 349 . 010 of the Act
^ and grants its permission to the Authority to proceed with the
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�' financing and construction of the Project through the issuance
of the industrial development revenue bonds of the Authority in
the principal amount not to exceed $1 ,750 ,000 to be issued
pursuant to the Act .
PASSED AND ADOPTED THIS _S���DAY OF , 1986 .
��J///ll�%'��� ����G�'�/
Francis E. Rhodes , Mayor
ATTEST:
A vin M. Stoverink , City Clerk
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