HomeMy WebLinkAboutRES NO 187-97RESOLUTION NO. 187- 97
A RESOLUTION IN SUPPORT OF THE
REQUEST OF HARVELPLASTICS, INC. FOR
INDUSTRIAL DEVELOPMENT BOND
FINANCING.
WHEREAS, the California Debt Limit Allocation Committee (CDLAC) grants a
portion of the State's limited private activity bond volume cap for Industrial Development
Bond financing; and
WHEREAS, competition for Industrial Development Bond financing is very strong;
and
WHEREAS, the City of Bakersfield would benefit from industrial development within
the City; and
WHEREAS, the City of Bakersfield has actively pursued Harvel Plastics, Inc., and
encouraged them to locate within the City; and
WHEREAS, Harvel Plastics, Inc. has chosen to locate its west-coast manufacturing
facility in Stockdale Industrial Park in the City of Bakersfield; and
WHEREAS, Harvel Plastics, Inc. has applied to the California Economic
Development Financing Authority for Industrial Development Bond financing; and
WHEREAS, the City of Bakersfield will benefit from the employment opportunities
which Harvel Plastics, Inc., brings to the community, both immediately and through
anticipated expansion.
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Bakersfield
that the City:
1) Fully supports Harvel Plastics, Inc. in its efforts to secure
Development Bond financing through its application to the California
Development Financing Authority; and
Industrial
Economic
2) Supports the issuance of the requested Industrial Development Bond
financing as being consistent with the efforts of the State of California (TEAM
CALIFORNIA) to encourage the development of industry and jobs within the State and
local communities; and
3) Requests that all state agencies take all actions necessary in order to
approve the application for Industrial Development Bond financing submitted by Harvel
Plastics, Inc., so that it and the City can benefit from this economic development project.
DIk: P:~AGREEM EN\harvel, res,wpd
ORIGINAL
4) Requests that the California Economic Development Financing Authority
grant the application of Harvel Plastics, Inc., for Industrial Development Bond financing.
5) The Mayor is authorized to send a letter to members and staff of the
California Debt Limit Allocation Committee stressing the importance of such allocation for
Harvel Plastics, Inc.
I HEREBY CERTIFY that the foregoing Resolution was passed and ~d3op~t9~d' by the
Council of the City of Bakersfield at a regular meeting thereof held on DECby the
following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
COUNCILMEMBERROWLES, CARSON, DEMOND, SMITH, MCDERMOTT, SULLIVAN, SALVAGGIO
COUNCILMEMBER~.
COUNCILMEMBER -[1
COUNCILMEMBER
CITY CLERK and Ex Officio Cle~l~ of the
Council of the City of Bakersfield
APPROVED DEC 1 ? 1997
MAYOR of Bakersfield
APPROVED as to form:
JUDY K. SKOUSEN
City Attorney
JANICE SCANLAN
Deputy City Attorney
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