HomeMy WebLinkAbout86-157-•
+0.~
^*; ,
' ~ ~ ~ << ,~"Y~
~~~~•~ , i
BOARD QF SU~PERV'ISORS
COUNTY OF BUTTE. STATE OF CALIFORNIA
Resojufion No. 86-157
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF BUTTE, CALIFORNIA, APPROVING THE
ISSUANCE OF INDUSTRIAL DEVELOPMENT BONDS
NEGLEY TILE COMPANY PROJECT
WHEREAS, the Industrial Development Authority of 'the County of Butte
proposes to issue up to $10,000,000 of Industrial Development Bonds (Negley Tire
Company Project) (the "Bonds"); and
WHEREAS, the project to be financed by the Bonds consists of the
acquisition of land, construction of buildings, and the purchase of machinery
and equipment for the manufacturing of ceramic floor tiles; and
WHEREAS, the maximum aggregate face amount of the Bonds to be issued
with respect to the project is $10,000,000; and
WHEREAS, the initial owner of the facility wi]1 be Negley Tile Company,
Inc., and
WHEREAS, the location of the facility will be Cohasset and Ryan in the
City of Chico, California; and
WHEREAS, Section 103 (k) of the Internal Revenue Code requires the Board
of Supervisors to give approval of the issuance of such Bonds following a public
hearing; and
WHEREAS, a public hearing concerning the issuance of the Bonds was duly
noticed and held on November 12, 1986 at the offices of the Butte County Economic
Development Corporation;
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors that the
issuance of the bands to finance the facility as described in the foregoing recitals
is hereby approved.
-2-
PASSED AND ADOPTED this 18th day of November T986 by
the following vote:
AYES: Supervisors Dolan, Fulton and Chairman McLaughlin
NOES: None
ABSENT: Supervisors McInturf and Wheeler
NOT UOTING~' None
~~~
ED McLAUGHLIN, Cha' man of the
Butte County Board of Supervisors
ATTEST:
MARTIN J. NICHOLS, Chief Administrative
Officer and Clerk of the Board
8y: ~~ rs~~s