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Via}! PAGE <br />XL VISION INDUSTRIAL REVENUE BOND RESOLUTION <br />The Board reviewed a Memorandum of March 27, 1997: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: March 27, 1997 <br />SUBJECT: X L VISION INDUSTRIAL REVENUE BOND RESOLUTION <br />FROM: Joseph A Baird (�D�,, <br />OMB Budget Director -7, <br />DESCRIPTION AND CONDITIONS <br />The Board of County Commissioners advertised a TETRA hearing on December 2, 1996 and passed <br />Resolution 96-159 on December 19, 1996 authorizing the issuance of Industrial Revenue Bonds for <br />X L Realty Inc. to construct a 62,000 square foot manufacturing facility. <br />The attached resolution authorizes the issuance of Industrial Revenue Bonds at the final determined <br />size of $6,025,000 and authorizes the Chairman or Vice Chairman to sign all loan and closing <br />documents. <br />RECOMMENDATION <br />The Board of County Commissioners approve the attached resolution and authorize the Chairman <br />or Vice Chairman to sign all loan and closing documents. <br />MOTION WAS MADE by Commissioner Adams, SECONDED BY <br />Commissioner Macht, to approve-- staff's <br />recommendation as set forth in the memorandum. <br />David J. Hull, bond counsel and attorney with Ausley & <br />McMullen, Tallahassee, advised that there was one change in the <br />resolution before the Board for adoption, the correct name of the <br />corporation. The resolution adopted December 17, 1996, listed the <br />company's name as XL Realty, Inc., a Delaware corporation. Their <br />real name is XL Realty Corp., a Florida corporation. <br />OMB Director Joe Baird advised that all the Board members were <br />required to sign a document indicating they had no conflict of <br />interest, and Chairman Eggert gave assurance that the meeting would <br />not be adjourned until each of them had signed. <br />THE CHAIRMAN CALLED THE QUESTION and the motion <br />carried unanimously. <br />28 <br />April 8, 1997 <br />