Series 107 2006 ORDINANCES/RESOLUTIONS
Section 107-600; Res. 185-06; Approving a project for The Tapestry Group, Inc. and the issuance of bonds therefor by the Industrial Development Authority of Boone County, Missouri
Council Bill No.
approving a project for The Tapestry Group, Inc. and the issuance of bonds therefor
Industrial Development Authority of Boone County, Missouri.
WHEREAS, the Industrial Development Authority of Boone County,
Authority) adopted an Inducement Resolution on August 14, 2006 (the Resolution of
for a project under Chapter 349 of the Revised Statutes of Missouri, as amended (the Act)
The Tapestry Group, Inc., an Arizona nonprofit corporation licensed to do business in the State
of Missouri (the Borrower) which project consists of the acquisition, expansion and
improvement of buildings, structures, facilities, fixtures and equipment (the Project) used
be used as part of its residential care facility; and
WHEREAS, the Authority has further expressed its intent to
issue its health care revenue
bonds in a principal amount not to exceed $8,000,000 pursuant to the Act to finance the Project;
WHEREAS, Section 349.010(4) of the Act provides that projects
of a county industrial
development authority may be located within the incorporated limits of a municipality within
such county when approved by the governing body of the municipality.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
COLUMBIA, MISSOURI, AS FOLLOWS:
SECTION 1. The Project and the issuance
of health care revenue bonds by the Authority to
finance costs of the Project is a public benefit because it will provide quality care for the elderly
in the City of Columbia, Missouri and is therefore approved.
ADOPTED this 18th day of September, 2006.