Laserfiche WebLink
RESOLU'T`ION 81-54 <br />A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF <br />A MEMORANDUM OF AGREEMZNT WITH RAMPMASTER INCORPORATED, <br />WITH RESPECT TO FINANCING A PROJECT CONSISTING OF THE <br />ACQUISITION AND EQUIPPING OF AN INDUSTRIAL OR MANU- <br />FACTURING PLANT TO BE LOCATED IN INDIAN RIVER COUNTY, <br />FLORIDA; AND THE ISSUANCE AND SALE OF INDIAN RIVER <br />COUNTY, INDUSTRIAL DEVELOPMENT REVENUE BONDS, IN AN <br />AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $850,000.00, <br />FOR THE PURPOSE OF FINANCING ALL OR A PORTION OF THE <br />COST OF SAID PROJECT; ALL PURSUANT TO CHAPTER 159, <br />PART II, FLORIDA STATUTES. <br />BE IT RESOLVED BY THE MEMBERS OF THE INDIAN RIVER COUNTY <br />COUNTY COMMISSION <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution <br />is adopted pursuant to the provisions o Chapter 159, Part II <br />Florida Statutes, as amended, and other applicable laws. <br />SECTION 2. FINDINGS. it is hereby found, ascertained, <br />determined and declared that: <br />A. Indian River County, Florida, (the "Issuer") is a <br />public body corporate and politic duly created and existing as a <br />local governmental body and duly constituted as a public <br />instrumentality for the purposes of industrial development; under <br />and by virtue of Chapter 159, Part II, Florida Statutes, as <br />amended, (the "Act)" and is duly authorized and empowered by such <br />act to provide for the issuance of and to issue and sell its <br />industrial development revenue bonds for the purpose of financing <br />all or any part of the "cost" (as defined in the Act) of any <br />Z.rojac t. (csa ucfiticu lit i:iie A(:t) ; and <br />B. in order to promote and foster the economic growth and <br />development of Indian River County, Florida (the "County") and <br />of the State of Florida (the "State"), to increase purchasing <br />power and opportunities for gainful employment, to improve living <br />conditions and to advance and improve the economic prosperity and <br />the welfare of the State and its inhabitants, to foster the <br />industrial and business development of the County, and to <br />otherwise contribute to the health, safety and welfare of the <br />people of the State, Rampmaster, Incorporated, a Florida <br />corporation (the "Company"), proposes that the Issuer issue and <br />sell its Industrial Development Revenue Bonds, in the aggregate <br />principal amount of not to exceed $850,000.00 (the "Bonds"); that <br />the Issuer use the proceeds thereof to finance all or any part of <br />the cost of issuance of the Bonds and of acquiring, constructing <br />and equipping an industrial or manufacturing plant to be located <br />in the County for the manufacture of metal products (the <br />"Project"); and that the Issuer sell the Project to or otherwise <br />finance the Project for the Company under an installment sale, <br />loan or other financing agreement (the "financing agreement") <br />obligating the Company for payments sufficient to pay the <br />principal of and premium, if any, and interest on the Bonds when <br />and as the same become due, and for the payment of all other <br />costs incurred by the Issuer in connection with the financing, <br />construction and administration of the Project which are not paid <br />out of the Bond proceeds or otherwise; all as permitted by the <br />Constitution and other laws of the State of Florida and as <br />authorized by the Act; and <br />C. the Company has shown that the Project will provide or <br />preserve employment in the County by creating approximately 40 <br />additional new jobs within a period of one year after completion; <br />and <br />