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HomeMy WebLinkAbout2007-004 IDA Resolution Industrial Revenue Bonds Horizons InfrastructureRESOLUTION 2007-004 A RESOLUTION APPROVING THE PRELIMINARY OFFICIAL STATEMENT RELATING TO THE AUTHORITY'S INDUSTRIAL REVENUE BONDS (RIVERSIDE HORIZONS INFRASTRUCTURE PROJECT -CITY OF RIVERSIDE, MISSOURI) AND ACTIONS RELATED THERETO. WHEREAS, the Authority is considering the issuance of its Industrial Development Revenue Bonds (Riverside Horizons Infrastructure Project -City of Riverside, Missouri), Series 2007A and Industrial Development Revenue Bonds (Riverside Horizons Infrastructure Project. - City of Riverside, Missouri), Series 2007E (collectively, the "Bonds"); and WHEREAS, Stifel Nicolaus & Company, Incorporated ("Underwriter") has been selected to serve as underwriter of the Bonds; and NOW THEREFORE, be it resolved by the Board of Directors of the Industrial Development Authority of the City of Riverside, Missouri as follows: Section 1. Preliminary Official Statement. The Preliminary Official Statement in substantially the form attached hereto as Exhibit A is hereby approved with such changes therein as shall be approved by the Authority and the Underwriter, and the Underwriter is hereby authorized to use and publicly distribute the Preliminary Official Statement for the purpose of taking indications of interest with regard to the offer and sale of the Bonds. Section 2. Further Authority. The Authority hereby authorizes and empowers the officers and representatives of the Authority to do all such acts and things and to execute, acknowledge and deliver all such documents as may in their discretion be deemed necessary or desirable in order to carry out or comply with the terms and provisions of this Resolution in connection with the structure and sale of the Bonds. All of the acts and undertakings of such officers and representatives which are in conformity with the intent and purposes of this Resolution, whether heretofore or hereafter taken or done shall be and the same are hereby iii all respects, ratified, confirmed and approved. Section 3. Effective Date. This Resolution shall take effect and be in full force immediately upon its adoption by the Board of Directors of the Authority. Adopted this 28`h day of March, 2007 (SEAL) ATTEST: Secretary RESOLUTION N0.2007-04 DECLARING THAT IT IS WISE, EXPEDIENT, NECESSARY AND ADVISABLE THAT AN INDUSTRIAL DEVELOPMENT AUTHORITY BE FORMED IN THE CITY OF RIVERSIDE, MISSOURI, AUTHORIZING THE FORMATION THEREOF AND' APPROVING THE ARTICLES OP INCORPORATION THEREOF. WHEREAS, Chapter 349 of the Revised Statutes of Missouri, as amended (the "Development Corporation Act") authorizes the formation of an industrial development authority for each city in the State of Missouri; and WHEREAS, Leland Finley, Cy Houston and Bob Archer, each being natural persons and duly qualified electors of and taxpayers in Riverside, Missouri (collectively the "Incorporators"), have filed with this Board of Aldermen a written application (the "Application") seeking permission to apply for the incorporation of The Industrial Development Authority of the City of Riverside, Missouri (the "Development Authority"); and WHEREAS, the Incorporators have contemporaneously filed with this Board of Aldermen a fonn of Articles of Incorporation ("Articles of Incorporation") proposed to be used in organizing the Development Authority; and WHEREAS, the implementation of such a Development Authority in the City of Riverside, Missouri could provide for the purchase, construction, extension and improvement of plants, buildings, shuctures, or facilities, whether or not now in existence, including the real estate, used or to be used as a factory, assembly plant, manufacturing plant, processing plant, fabricating plant; distribution center, warehouse building, public facility, office building, for- profit or not-for-profit hospital, not-for-profit nursing or retirement facility or combination thereof, physical fitness, recreational, indoor and resident outdoor facilities operated by not-for- profit organizations, commercial or agricultural facility, or facilities for the prevention, reduction or control of pollution, which, in turn, could provide for the additional employment and job opportunities for rebuilding of the City and would improve the economic welfare of the City of Riverside people; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF RNERSIDE, MISSOURI, as follows: Section A. That this Board of Aldermen finds and determines that it is wise, expedient, necessary and advisable that the Development Authority be formed immediately. Section B. That the Articles of Incorporation as submitted by the Incorporators are hereby approved. Section C. That the Incorporators are hereby authorized to proceed to form the Development Authority by executing, acknowledging and filing the Articles of Incorporation as soon as possible with the Missouri Secretary of State as provided in the Development Corporation Act. Section D. That this Board of Aldermen fords and determines that the issuance of the revenue bonds by the Development Authority to finance the cost of any project approved by said Development Authority will be in furtherance of the public purpose set forth in the laws of the State of Missouri and that such projects will promote the welfare of Riverside, Missouri. Section E. That this Board of Aldermen hereby evidences and declares its intention to take such further actions as may be advisable or necessary to implement the foregoing Resolution. ~J PASSED AND APPROVED THIS ~D T'~ DAY OR ~ 2007 Kat Teen L. Rose, Mayor ATTEST: [seal r Lo ise Rusick, City Clerk I, the undersigned, duly appointed and acting City Clerk of and for the City of Riverside, Missouri, do hereby certify this to be a true copy of a document presented to the City of j}ver i e Board of Al en on the cSC~ L day of -~;7 2007. ouis€Rusick, City Clerk _2_ APPLICATION FOR INCORPORATION OF AN INDT:JSTRIAL DEVELOPMENT CORPORATION To: The Board of Aldermen of the City of Riverside, Missouri We, the undersigned, being duly qualified electors of and taxpayers in the City of Riverside, Missouri, do hereby seek permission from the governing body of the City of Riverside, Missouri to apply for the incorporation of an industrial development corporation of the City of Riverside, Missouri to develop commercial, industrial, agricultural or manufacturing facilities, in accordance with provisions of Chapter 349 of the Revised Statutes of Missouri. We request that the Board of Aldermen, by resolution duty adopted, (a) find and determine that it is wise, expedient, necessary or advisable that such corporation be formed, (b) authorize the undersigned to proceed to form such a corporation, and (c) approve the Articles of Incorporation, which are attached hereto. IN WITNESS WHEREOF, this Application has been subscribed by each of the undersigned applicants effective as of February 20, 2007. C Leland inle Cy ouston / ~~~ti~ Bob Archer .