Resolution 4116 - Laserfiche WebLink

RESOLUTION NO. 8 A RESOLUTION of the Board of Directors of the Industrial Development Corporation of the City of Everett authorizing the issuance and placement of its Variable Rate Demand Industrial Revenue Bonds, 1995 (American Profiles Company/Woodtape Project) in the principal amount of $4,600,000; approving the documentation in connection with the issuance of said bonds; appointing a trustee; and providing for other matters relating thereto. WHEREAS, on February 1, 1995, the Board of Directors of the Industrial Development Corporation of the City of Everett (the "Development Corporation") approved Resolution No. 7, taking official action toward issuance and sale of its nonrecourse revenue bonds in the principal amount of not to exceed $4,600,000 for the purpose of financing certain new industrial development facilities described therein (the "Project") by American Profiles Company (the "Company"); and WHEREAS, on this date, the Development Corporation held an open public hearing on the issuance of said nonrecourse revenue bonds pursuant to notice published in the Everett Herald; 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 this Board in substantially the form attached hereto and are hereby directed to be filed with the Secretary of the Board: (a) Loan Agreement (the "Loan Agreement"), to be dated as of May 1, 1995, proposed to be made and entered into between the Development Corporation and the Company; (b) An Indenture of Trust (the "Indenture"), to be dated as of May 1, 1995, proposed to be made and entered into between the Development Corporation and First Trust Washington, as trustee (the "Trustee"), authorizing the issuance of and setting forth the terms and conditions of the said nonrecourse revenue bonds, assigning the Development Corporation's