HomeMy WebLinkAboutResolutions - No. 84-176CITY COUNCIL OF THE CITY OF L(DI
RESOLUTION NO. 84-176
A RESOLUTION APPROVING A MAIM.' KR
DAR OaTTAINER CORPCRATICN OF CALIRFNIA
WHEREAS, the Industrial Development Authority of the City of
Lodi (the "Authority") has accepted and filed with this City Council
an application from Dart Container Corporation of California (the
"Applicant") requesting that the Authority issue its revenue bonds
pursuant to the California Industrial Development Financing Act, being
Title 10 of the California Government Code, as supplemented and
amended (the "Act"), to finance the acquisition and construction of
certain facilities (the "Project") to be used by the Applicant; and
WHEREAS, the Board of Directors of the Authority has made
the determinations required to be made by it pursuant to Section 91530
of the Act preliminary to the issuance by the Authority of such
revenue bonds; and
HEREAS, this City Council has considered the information
contained in the aforesaid application and has considered the
determinations of the Board of Directors of the Authority;
NOW, iritli r&ttt, the City Council of the City of Lodi do(es)
resolve as follows:
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84-176
Section 1. The City Council hereby approves the Project,
subject to fulfillment of all requirements under the Act, and approves
the issuance of revenue bonds of the Authority to finance costs of the
Project, which bonds and the interest thereon shall be paid frau
revenues received by the Authority from the Applicant pursuant to a
financing agreement with respect to the Project to be entered into
between the Authority and the Applicant.
Section 2. In order to comply with the public hearing
requirements of Section 103(k) of the Internal Revenue Code of 1954,
as amended, the City Council hereby designates Henry A. Glaves, City
Manager of the City, to hold a public hearing on behalf of the Council
with respect to the proposed issuance of the Bonds, on Wednesday,
November 28, 1984 at 11:00 o'clock a.m. at 221 West Pine Stret, Lodi,
California. The City Clerk is hereby authorized and directed to
publish notice of such hearing in accordance with said Section 103(k).
Section 3. The City Council hereby allocates the City's
private activity bond allocation, as described in Section 103(n) of
the Internal Revenue Code of 1954, as amended, for the year 1984 to
the Project and directs the Clerk or Deputy Clerk to forward this
Resolution to the Board of Supervisors of the County of San Joaquin in
request of an allocation from the County of the County's private
activity bond allocation in an amount sufficient to enable the
Authority to issue bonds for the Project.
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Section 4. The Clerk or a Deputy Clerk is hereby directed
to certify and deliver this Resolution to the Authority.
Section 5. This Resolution shall take effect immediately
upon its passage.
The foregoing Resolution was passed and adopted by the City
Council of the City of Lodi on November 9th, 1984, by the following
vote:
Ayes: Council Members - Hindman, Cason, Pinkerton,
Reid, and Snider (Mayor)
Noes: Council Members - None
Absent: Council Members - None
Attest:
City Clerk
Jo j n kandy Sn i der
Mayor
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CLERK'S CFxI'IFICATE
I, the undersigned, the City Clerk of the City of Lodi,
hereby certify that the foregoing is a full, true and correct copy of
a resolution duly introduced and adopted at an adjourned regular
meeting of the City OOuncil of the City of Lodi duly and regularly
held on the 9th day of November, 1984, at 10:00 a.m., of which meeting
all of the members of said City Council had due notice and at which a
majority thereof were present; and that said resolution was adopted by
the following vote:
Reid,
Ayes: Council %fibers - Hinchman, Cason, Pinkerton,
and Snider (Mayor)
Noes: Council Metrbers - None
Absent: Council Members - None
I further certify that I have carefully compared the same
with the original minutes of said meeting on file and of record in my
office; that said resolution is a full, true and correct copy of the
original resolution so adopted and entered in said minutes; and that
said resolution has not been amended, modified or rescinded since the
date of its adoption and is now in full force and effect.
IN WITNESS NhERMF, I have hereunto set my hand and affixed
the official seal of the City of Lodi this 9th day of November, 1984.
Q�s�i711-
Alice M. Reimche
City Clerk
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