1989/10/25 Council Minutes - Laserfiche WebLink

( . f October 25,1989 935 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City Of Everett as P011oxe: 1. The City shall loan to Bethany of the Northwest the sum of THREE HUNDRED THOUSAND DOLLARS ($300,000.00) to be used to finance a portion of the cost of construction, 4 reconstruction,acquisition or rehabilitation of housing that will erson term"loe w income"ied bis defined orpersons pRCW 35.21 605, onthees the terms and conditions set forth in the attached Loan and Repurchase Agreement,which terms end conditions are hereby incorporated by reference;end 2. The Mayor end his authorized delegates are hereby authorized, urchase Ag eement,owered and to make directed that loan execute said Bethany Loan of and the RNorthwest pursuant thereto, and to administer and enforce the provisions thereof'. Roll ae calletl with 50l ncilmembers Doting yes cept Councllmember Diamontl ho Wa excused. ez Motion carried. RESOLUTION Moved by Counciimember Gipson, secondetluy Councilmember Pope to adopt Resolution No. 3243 approving the issuance of non-recourse industrial development revenue bonds of the Pllchuck Development Public Corporation for thebenefit of Kohkoku USA, Inc.pursuant to ROW 39.84.060 as follows: WHEREAS, the Legislature of the State of Washington has provided for the creation of public corporations by municipalities, including counties,pursuant to Chapter 300,Laws of Washington 1901 (Regular Seesion) codified es Chapter 39.84 RCM, as ems ded (the "Act"), for the purpose of facilitating economic development and employment opportunities in the State of Washington;and WHEREAS, ,pursuant Ordinanceuantto No.Act,ct1 the ounty Council of SnohomishCounty HEa charter of public corporation, designated as "The Pi and approved the Development Public Corporation"(the"Public Cor order Corporation")carry out the purposes of the Act;and ole tion") In Der from Kohkoku SUSAM1e Inc. (then"Company")ration has for received financing Jif tion the expansion of its manufacturing facilities (the "Project") existing at 1407 00th Street nSW, which is within the boundaries of the City of Everett(the"City");end WHEREAS, the Public Corporation hes reviewed the application of the Company, has determined that the Project qualifies as an "industrial development facility vithin the m aning of the Act end has ha finance all p approved the issuance of its n -re s u e venue bonds to Resolution No.r89-3 Dadoprtion of June 19,the s1989 and a Projectof the by the Snohomish County Councilon July 5,1989;and Dprovatl by the ted r^