Resolution 4209 - Laserfiche WebLink

f„ RESOLUTION NO. 4209 A RESOLUTION of the City Council of the City of Everett, Washington, approving the issuance of tax-exempt solid waste recycling revenue bonds of the Industrial Development Corporation of the Port of Everett, Washington for the benefit of SRPC Associates, L.P., pursuant to RCW 39.84.060. WHEREAS, the Legislature of the State of Washington has provided for the creation of public corporations by municipalities, including ports, pursuant to Chapter 300, Laws of Washington, 1981 (Regular Session) codified as Chapter 39.84 RCW, as amended (the "Act"), for the purpose of facilitating economic development and employment opportunities in the State of Washington; and WHEREAS, pursuant to the Act, the Industrial Development Corporation of the Port of Everett, Washington (the "Development Corporation") was formed by the Port of Everett (the "Port") in order to carry out the purposes of the Act; and WHEREAS, the Development Corporation received an application from SRPC Associates, L.P., a Washington limited partnership (the "Partnership") for the purpose of providing financing for the acquisition, development, design, construction, installation, equipping of a waste paper de-inking pulp mill, to be located at 101 East Marine Drive, Everett, Washington (the "Project"), which is within the boundaries of the City of Everett, Washington (the "City"); and WHEREAS, the Development Corporation and its bond counsel have reviewed the application of the Partnership and have determined that the Project qualifies as an "industrial development facility" within the meaning of the Act; and WHEREAS, the Development Corporation, at a regular meeting on December 12, 1995, approved the issuance of its Solid Waste Recycling Revenue Bonds (Snohomish River Pulp Company Project) Series 1995 in the principal amount of$87,529,500 (the "Bonds"); and