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Fort Walton Beach Resolution — 81-31-Industrial Revenue Bonds-FW Machining — reading text
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RESOLUTION NO. J/- 3/
WHEREAS, the City of Fort Walton Beach, Florida
(the 'Issuer") a body politic and corporate and a
political subdivision of the State of Florida is
authorized and empowered by the provisions of the Florida
Industrial Development Financing Act, Fla. Stat. (Ann.
159.25 - j{59.43) (the "Act'"), to finance a project,
as that term is defined in the Act, and to issue its
industrial revenue bonds for the purpose of paying the
cost of financing a project; and
WHEREAS, Fort Walton Beach Manufacturing Corporation
(the 'Company'") has requested the Issuer to issue and
sell, either public or private, its industrial revenue bonds
pursuant to provisions of the Act for the purpose of
financing an industrial facility constituting a project,
as that term is defined in the Act (the "Project'") for
the Company; and
WHEREAS, the Issuer wishes to declare its intention
to authorize an issue of its industrial revenue bonds
for the purpose of paying the cost of financing the
Project, when so requested by the Company, upon such
terms and conditions as may then be agreed upon by
the Issuer, the Company and the Purchaser.
NOW, THEREFORE, be it resolved by the Council of
the Issuer that it does hereby declare its intention to
authorize the issuance and sale of industrial revenue
bonds of the Issuer to the Purchaser under and in
accordance with the Act, in such an amount necessary to
pay the cost of the Project as described in Attachment A,
presently estimated to be $1,000,000.00, and upon such
terms and conditions, as may be mutually agreed upon
by the Issuer and the Company, the issuance and sale
of such bonds to be authorized by resolution of the
Issuer at a meeting to be held for such purpose.
Passed and approved this 2*<k day of Lev 1981.
wi thar p aap bey.
MAYOR
_ Mou EL? , The form of the foregoing has been reviewed
Deputy City Clerk VU and approved by the City Attorney-
D. Michael Chesser
City Attorney
ATTACHMENT A
The Project will be located at a currently existing
facility of the Company located within the boundaries
of the City of Fort Walton Beach.
The Project will consist of the manufacture of newspaper
single copy dispensing machines.