HomeMy WebLinkAboutRES NO 37-83RESOLUTION NO. 37-83
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BAKERSFIELD APPROVING THE ISSUANCE OF
$1,600,000 PRINCIPAL AMOUNT OF ADJUSTABLE
RATE INDUSTRIAL DEVELOPMENT REVENUE B~NDS
(LOR, INC. PROJECT) SERIES 1983
WHEREAS, the City Council has been presented with a form of
a resolution of issuance for the $1,600,000 principal amount
Industrial Development Authority of the City of Bakersfield
Adjustable Rate Industrial Development Revenue Bonds (LOR, Inc.
Project) Series 1983, together with the Bond Documents, as
defined therein; and
WHEREAS, a public hearing has been held thereon and
testimony from interested persons invited and received; and
WHEREAS, the City Council has considered the testimony
submitted; and
WHEREAS, the City Council has determined that the issuance
of the Bonds is in the best interest of the City of Bakersfield
and that it promotes the long term employment of residents of
the area, expansion of the industrial base of the community,
and retention of existing jobs and industry.
NOW THEREFORE, BE IT RESOLVED by the City Council of the
City of Bakersfiled as follows:
Section 1. The City Council hereby approves the
issuance of the Bonds in accordance with the terms of the
resolution of issuance.
Section 2. Following consideration of all testimony
presented at the public hearing thereon, the Council finds and
determines that the issuance of the Bonds is in the best
interest of the City of Bakersfield, will promote the continued
and expanded employment of residents of the City, the expansion
and retention of the industrial base of the City, and will
serve legitimate public purposes of the City.
PASSED,
1983.
APPROVED AND ADOPTED this 16th day of February ,
Mayor~ the City of Bakersfield
ATTEST:
City Cler~ of ~he City of
Bakersfield
(SEAL)
APPROVED as to form:
02-09-83
4131P/2160/00