Resolution 5439 - Laserfiche WebLink

A ,76 :641 RESOLUTION NO. 5439 A RESOLUTION OF THE EVERETT CITY COUNCIL APPROVING THE ACTION OF THE STATE OF WASHINGTON ECONOMIC DEVELOPMENT FINANCE AUTHORITY AND THE ISSUANCE OF NON-RECOURSE REVENUE BONDS TO FINANCE AN ECONOMIC DEVELOPMENT FACILITY FOR CEDAR GROVE COMPOSTING, INC. ("the COMPANY"), AND PROVIDING FOR OTHER MATTERS PROPERLY RELATING THERETO. WHEREAS, on April 4, 2003, the Washington Economic Development Finance Authority ("WEDFA") had presented to it Resolution No. W-2003-003, subsequently amended on December 3, 2003 by Resolution No. W-2003-015 (collectively the "Resolution"), copies of which is attached hereto as Exhibit A, relating to the issuance of non-recourse revenue bonds wherein the proceeds of which would be loaned to the Company for the acquiring, constructing, equipping and improving of real and personal property to be used in the solid waste disposal operations of the Company (the "Project"), all as authorized by the Economic Development Finance Authority Act of 1989, R.C.W. Title 43, Chapter 163, as amended(the "Act"); and WHEREAS, on the respective dates, WEDFA approved the Resolution; and WHEREAS, it is the policy of the Washington Economic Development Finance Authority not to issue revenue bonds except upon the approval of the county, city or town within whose planning jurisdiction the proposed industrial development facility lies; and WHEREAS, certain operations comprising a part of the Project lies within the boundaries of the City of Everett, Snohomish County, Washington; NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND ORDERED as follows: Section 1: The Everett City Council (the "Council"), pursuant to the request of the Washington Economic Development Finance Authority, does hereby approve the issuance of non-recourse revenue bonds (the "Bonds") by the Washington Economic Development Finance Authority, for the purposes provided in the Act.