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• <br /> a <br /> RESOLUTION NO. 773S <br /> A RESOLUTION approving issuance and sale <br /> of $1, 000, 000 aggregate principal amount <br /> of Industrial Development Revenue Bonds <br /> of the Industrial Development Corporation <br /> of the Port of Everett for the financing <br /> of a project for Scott Paper Company. <br /> WHEREAS, the Board of Directors of The Industrial Develop- <br /> ment Corporation of the Port of Everett (the "Issuer") adopted <br /> a resolution (the "Bond Resolution" ) on February 8 , 1983 , <br /> authorizing the issuance of $1, 000, 000 principal amount of <br /> industrial development revenue bonds pursuant to the provisions <br /> of Chapter 300, Washington Laws of 1981, codified as Chapter 39 . 84 <br /> et seq. of the Revised Code of Washington, as amended (the "Act" ) , <br /> for the purpose of financing the acquisition, construction and <br /> installation of certain industrial development facilities (the <br /> "Project" ) , consisting of eight additional truck docks and related <br /> support facilities at the distribution center of Scott Paper <br /> Company (the "Company" ) at its plant in the Port of Everett; and <br /> WHEREAS, such revenue bonds are to be designated "The <br /> Industrial Development Corporation of the Port of Everett <br /> Industrial Development Revenue Bonds (Scott Paper Company Project) <br /> 1983 Series "A" (the "Bonds" ) ; and <br /> WHEREAS, as required by the Act, the Port Commission of the <br /> Port of Everett on February 8 , 1983, adopted a resolution approving <br /> the Bond Resolution and the Issuer ' s agreement to issue the Bonds; <br /> and <br /> WHEREAS, the Project is located within the planning juris- <br /> diction of the City of Everett and under the Act the approval of <br /> the City of Everett for the issuance of the Bonds is therefore <br /> required; and <br /> WHEREAS, the Issuer has transmitted the Bond Resolution to <br /> the City Council together with its request for approval of the <br /> issuance and sale of the Bonds under the Act; and <br /> WHEREAS, the acquisition and construction of the Project by <br /> promoting the efficient operation of the plant of the Company will <br /> be consistent with the welfare of the City and its citizens; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF EVERETT THAT: <br /> 1) Issuance of the Bonds by the Issuer under the Act to finance <br /> the Project is hereby approved. <br /> 2) This Resolution shall become e fecti immediately upon its <br /> adoption. <br /> f�D <br /> Counciln+an Introducing Resolution <br /> PASSED and APPROVED this /z ol day of 1983 . <br /> President /070A—AL_. <br />