HomeMy WebLinkAbout1995-06-13; City Council; Resolution 95-152* e a
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RESOLUTION NO. 95-152
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSI CALIFORNIA, APPROVING THE ISSUANCE OF APPROXIMATELY $1,336
PRINCIPAL AMOUNT OF INDUSTRIAL DEVELOPMENT REVENUE BO
(AALTO SCIENTIFIC), AS CONTEMPLATED BY THE INDUSTRIAL DEVELOPN AUTHORITY OF THE CITY OF CARLSBAD.
WHEREAS, the City Council of the City of Carlsbad (the "City Council")
presented with a form of a Resolution of Inducement for the approximately $1
principal amount of Industrial Development Revenue Bonds (the "Bonds") by the
Development Authority of the City of Carlsbad (the "Authority), the proceeds of VI
be loaned to CIP Limited, Ltd., the owner, to be used to finance the acquis
construction of a 21,415 square foot facility for Aalto Scientific Limited, for u
manufacture and warehousing of raw materials and OEM products, both biolo
biochemical in nature, for the diagnostic reagent industry and a broad line of PI
survey specimens for the purpose of monitoring quality assurance in clinical an(
laboratories on a 1.54 net acre parcel located at 1959 Kellogg Avenue in Carlsbi
Center Business Park located in the City of Carlsbad (the "City"), subject to the c(
of proceedings and other matters relating thereto, including, but not limited to,
planned development approval in accordance with the Carlsbad Municipal Code
satisfaction of the City; and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as
(the Todel'), prior to issuance, private activity bonds are required to be approv
applicable elected representative of at least one of the governmental units on wht
such bonds are expected to be issued and by a governmental unit having jurisdic
the entire area in which any facility financed by such bonds is to be located, aft€
hearing held following reasonable public notice; and
WHEREAS, this City Council has caused to be published, at least 14 days p
date hereof, in a newspaper of general circulation, a notice that a public hearing
the Bonds and the Authority's acceptance of the application therefor would be h
date hereof; and
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1 WHEREAS, the members of this City Council are the applicable elected repre!
2 of the City; and
3 WHEREAS, this City Council has conducted a public hearing on this date, at w
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California, as follows: 7
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of 6
the issuance of Bonds; 5
an opportunity was provided to interested parties to present arguments both for an
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1. That the above recitations are true and correct.
2 That following consideration of all testimony presented at the publi
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thereon, the City Council finds and determines that the issuance of Bonds is ir
City, the expansion and retention of the industrial base of the City, and will serve 12
interest of the City, will promote the continued and expanded employment of residt
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public purposes of the City.
3. That as the elected representatives of the City, and as the governm
having jurisdiction over the entire area in which the project being financed by tht
located, pursuant to Section 147(f) of the Code, this City Council hereby app
issuance of the Bonds in an aggregate principal amount not to exceed $1,336,98
4. That it is the intent and purpose of this City Council that this resolution
approval of the issuance of the bonds by the applicable elected represent;
governmental unit on whose behalf the Bonds are being issued and by the governn
having jurisdiction over the entire area in which the project being financed by tht
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of this Resolution. 25
certificates, and to take such other actions as may be necessary to accomplish thc 24
5. That the Mayor is authorized and directed to execute such docur 23
located in accordance with the terms of the Authority resolution of intent.
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PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad Cit 3
this resolution and the certification to be filed in the Office of the City Clerk. 2
6. That the City Clerk shall certify to the adoption of this resolution and SI-
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AYES: Council Members Lewis, Nygaard, Kulchin, Finnila, Hall 5
held on the 13th day of JUNE , 1995, by the following vote, to \
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(SEAL) 16
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ABSENT: None 7
NOES: None 6
ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk )