Resolution 5195 - Laserfiche WebLink

RESOLUTION NO. 15 A RESOLUTION of the Board of Directors of the Industrial Development Corporation of the City of Everett, Washington, authorizing the issuance and sale of its Exempt Facilities Revenue Bonds (Kimberly-Clark Corporation Project), Series 2002, in the principal amount of not to exceed $19,900,000; approving the documentation in connection with the issuance of said bonds; appointing a trustee; and providing for other matters relating thereto. WHEREAS, on May 26, 1999, the Board of Directors of the Industrial Development Corporation of the City of Everett, Washington (the "Development Corporation") approved Resolution No. 13, taking official action toward issuance and sale of its nonrecourse revenue bonds in the principal amount of not to exceed $25,000,000 for the purpose of financing certain improvements to wastewater treatment facilities described therein (the "Project") by Kimberly-Clark Tissue Company, whose corporate successor is the Kimberly-Clark Corporation (the "Company"); and WHEREAS, on December 9, 1999, the Development Corporation issued its Exempt Facilities Revenue Bonds (Kimberly-Clark Tissue Company Project), Series 1999, in the aggregate principal amount of $3,900,000 (the "1999 Bonds"), to finance a portion of the Project, which 1999 Bonds remain outstanding and which the Company wishes to refinance; and WHEREAS, on this date, pursuant to notice published in the Everett Herald, the Development Corporation held an open public hearing on the issuance of nonrecourse revenue bonds in the principal amount of not to exceed $19,900,000 to refund the 1999 Bonds and to provide not to exceed $16,000,000 for additional portions of the Project; and WHEREAS, forms for the following documents ("Loan Documents") relating to the proposed issuance of bonds and the loan of bond proceeds have been prepared and submitted to