HomeMy WebLinkAbout1984-R-38 A RESOLUTION AMENDING RESOLUTION 83-R-8 ADOPTED BY THE
COMMON cOUNCIL OF THE CITY OF JEFFERSONVILLE, INDIANA AS
AMENDED BY A RESOLUTION ADOPTED ON SEPTEMBER 12, 1983.
WHEREAS, the Common Council of the City of Jeffersonville, Indiana
(the "Issuer") has heretofore adopted Resolution 83-R-8 on June 6, 1983 in-
ducing Popped-Right, Inc. (the Company") to construct and equip an economic
development facility (the "Project") consisting of the expansion of an exist-
ing plant and the acquisition of machinery and equipment to be used in the
manufacturing and processing of corn-based snack food products and determining
that the issuance and sale of economic development revenue bonds of the Issuer
(the "Bonds~) in the aggregate amount of $1,800,000, the proceeds of which
bonds will be loaned to the Company to assist the Company in the financing of
the Project will serve the public purpose in accordance with Indiana Code
Section 36-7-12 (the "Act"); and
WHEREAS, the Common Council of the Issuer adopted a resolution on
September 12, 1983, amending Resolution 83-R-8 adopted on June 6, 1983, to
include D. Warren Brown, the principal stockholder of Popped-Right, Inc., as
an applicant for a portion of the Bonds in the amount of $400,000; and
WHEREAS, the Common Council of the Issuer has been advised that D.
Warren Brown is no longer to be included as an applicant for a portion of
Bonds to be issued to finance the Project; and
WHEREAS, the Common Council of the Issuer has .been advised that the
Project will include additional machinery and equipment and will necessitate
the issuance of Bonds of the Issuer in the aggregate amount of $2,700,000; and
WHEREAS, the name of the Company has been changed to Wyandot, Inc.
NOW THEREFORE, BE IT RESOLVED by the Common Councilof the City of
Jeffersonville, Indiana that:
1. The Common Council of the Issuer hereby finds and determines
that the entire principal amount of the Bonds will be issued to a single ap-
plicant and that the term "Applicant" as it appears in Resolution 83-R-8 shall
mean Wyandot, Inc. The Common Council further determines that the Project
will be owned and operated by that Applicant.
2. The Common Council of the Issuer hereby approves the issuance
and sale of Bonds in the increased principal amount of $2,700,000 and finds
and determines that the issuance and sale of the Bonds and the loan of the
proceeds thereof to Wyandot, Inc. will serve the public purposes of the Act.
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3. Except as aforesaid, all prior findings and determinations with
respect to the Project and the Bonds by this Com~O~ Council are ratified and
confirmed-
Adopted this /.~ day of September, 1984.
CITY OF jEFFERSONVILLE, INDIANA
(SEAL)
~le~k-Treasurer
Presented by me to the Mayor of the City of Jeffersonville, In. aha
on the _~ day of September, 1984 at the hour of _ ~ ,.. o'¢lock~_~.m.
hour of
Appr and signed~vbY me this ~ day of September, 1984 at the
~ _ o'clock~__.m-
Mayor