HomeMy WebLinkAbout1995-06-13; City Council; Resolution 95-153e e
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RESOLUTION NO. 95-153
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBA CALlFORNIA,APPROVING THE ISSUANCE OFAPPROXIMATELY $2,176,3 PRINCIPAL AMOUNT OF INDUSTRIAL DEVELOPMENT REVENUE BON
(ASYMPTOTICTECHNOLOGIES), AS CONTEMPLATED BY THE INDUSTRI
DEVELOPMENT 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 $:
principal amount of Industrial Development Revenue Bonds (the "Bonds") by the
Development Authority of the City of Carlsbad (the "Authority), the proceeds of v
be loaned to CIP Limited, Ltd., the owner, to be used to finance the acquis
construction of a 41,225 square foot facility for Asymtek for use in the manuf;
automated fluid dispensing system solutions and 3-axis motion control products on
acre parcel located at 2762 Loker Avenue West in the Carlsbad Oaks West Busine
the City of Carlsbad (the "City"), subject to the completion of proceedings and 0th
relating thereto, including, but not limited to, obtaining planned development ai
accordance with the Carlsbad Municipal Code to the full satisfaction of the City; I
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of
amended (the "Code"), prior to issuance, private activity bonds are required to be
by the applicable elected representative of at least one of the governmental units (
behalf such bonds are expected to be issued and by a governmental unit having jur
over the entire area in which any facility financed by such bonds is to be locate
public hearing held following reasonable public notice; and
WHEREAS, this City Council has caused to be published, at least 14 days PI
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 he
date hereof; and
WHEREAS, the members of this City Council are the applicable elected repre
of the City; and
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WHEREAS, this City Council has conducted a public hearing on this date,
time an opportunity was provided to interested parties to present arguments bot
against the issuance of Bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
California, as follows:
1. That the above recitations are true and correct.
2 That following consideration of all testimony presented at the publi
thereon, the City Council finds and determines that the issuance of Bonds is ir
interest of the City, will promote the continued and expanded employment of residt
City, the expansion and retention of the industrial base of the City, and will serve
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 $2,176,37(
4. That it is the intent and purpose of this City Council that this I
constitute approval of the issuance of the bonds by the applicable elected represe
a governmental unit on whose behalf the Bonds are being issued and by the govt
unit having jurisdiction over the entire area in which the project being financed by 1
is located in accordance with the terms of the Authority resolution of intent.
5. That the Mayor is authorized and directed to execute such docur
certificates, and to take such other actions as may be necessary to accomplish the
of this Resolution.
6. That the City Clerk shall certify to the adoption of this resolution and SI
this resolution and the certification to be filed in the Office of the City Clerk.
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2 Page 2 of Resolution No. 95-153
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e e
PASSED, APPROVED AND ADOPTED at a regular meeting of
Carlsbad City Council held on the 13th day of JUNE
by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Kulchin, Finnila, H
NOES : None
ABSENT: None
ATTEST :
LktL. 4). k2AaL.- ALETHA L. RAUTENKRANZ, City C1
(SEAL)
Page 3 of Resolution No. 95-153