HomeMy WebLinkAbout27307 RESOLUTION NO. 27307
RESOLUTION determining to proceed with the issu-
ance of not to exceed $1 ,200,000 Industrial Develop-
ment Revenue Bonds, Series 1980 (Fahr Beverage, Inc.
Project) of the City of Waterloo, Iowa
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WHEREAS, the City of Waterloo, in the County of Black Hawk, State
of Iowa, (the "City") , proposes to issue Industrial Development Revenue Bonds,
Series 1980 (Fahr Beverage, Inc. Project), of said City in a principal amount
not to exceed $1 ,200,000 (the "Series 1980 Bonds") for the purpose of lending
the proceeds thereof to Klawitter Distributing Co. , Inc. (the "Corporation")
to defray the cost, to that amount, of the acquisition of certain land, build-
ings and equipment for the distribution and warehousing of malt beverages at
1369 Martin Road, Waterloo, Iowa, (the "Project") , all in accordance with the
provisions of Cahpter 419 of the Code of Iowa, 1979, as amended , (the "Act");
and
WHEREAS, pursuant to published notice of intention this City Council
has conducted a public hearing, as required by Section 419.9 of the Act, and
this City Council deems it necessary and advisable to proceed with the Project,
the issuance of the Bonds, and the loan of the proceeds of the Series 1980 Bonds
to the Corporation;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
•
WATERLOO, IOWA, AS FOLLOWS:
Section 1 . That at the public hearing conducted by this City Council
pursuant to published notice, all local residents who appeared were given an
opportunity to express their views for or against the proposal to issue the
Series 1980 Bonds.
Section 2. That this City Council deems it necessary and advisable
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and hereby determines, to proceed with the Project, the issuance of the
Series 1980 Bonds, and the loan of the proceeds of the Series 1980 Bonds
to the Corporation, all upon terms and conditions mutually satisfactory to the
City and the Corporation.
Section 3. That this Resolution shall become effective immediately
upon its passage and approval .
Passed and approved October 27 , 1980.
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Mayor , Leo Rooff
ATTEST:
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Larry P. Burger, Ci t erk
Recorded , 1980.
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