Resolution 5195 - Laserfiche WebLink

• RESOLUTION NO. 5195 A RESOLUTION of the City Council of the City of Everett, Washington, approving the issuance of tax-exempt Exempt Facilities Revenue Bonds of the Industrial Development Corporation of the City of Everett for the benefit of Kimberly-Clark Corporation pursuant to RCW 39.84.060 and approving Resolution No. 15 of the Board of Directors of the Industrial Development Corporation of the City of Everett adopted on May 22, 2002. WHEREAS, the Industrial Development Corporation of the City of Everett, Washington (the "Development Corporation") on December 9, 1999 issued its Exempt Facilities Revenue Bonds (Kimberly-Clark Tissue Company Project), Series 1999, in the aggregate principal amount of$3,900,000, all of which remain outstanding (the "1999 Bonds"); and WHEREAS the Development Corporation at a meeting on May 22, 2002 adopted Resolution No. 15 approving the issuance of up to $19,900,000 Exempt Facilities Revenue Bonds (Kimberly-Clark Corporation Project), Series 2002 (the "Bonds") for the benefit of the Kimberly-Clark Corporation (the "Company"); and WHEREAS, the proceeds of the Bonds will be used by the Company to currently refund the 1999 Bonds and to acquire, install and equip wastewater treatment facilities located at and adjacent to 2600 Federal Avenue, Everett, Washington (the "Project"), which is within the boundaries of the City of Everett, Washington(the "City"); and WHEREAS, Chapter 39.84 RCW, as amended (the "Act") provides that each county, city or town within whose planning jurisdiction the Project is to be located must approve the issuance of revenue bonds by the Development Corporation for such Project; and WHEREAS, the Act also requires that the City, as the municipality that created the Development Corporation, approve the issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT, WASHINGTON, as follows: