Series 107 2006 ORDINANCES/RESOLUTIONS
Section 107-609; Res. 205-06; Consenting to the issuance of Transportation Sales Tax Revenue Bonds by the Grindstone Plaza Transportation Development District
Council Bill No.
consenting to the issuance of Transportation Sales Tax Revenue Bonds by the Grindstone
Transportation Development District.
WHEREAS, the City of Columbia, Missouri (the City),
the Grindstone Plaza Transportation
Development District (the District) and THF Grindstone Plaza Development, L.L.C. and THF
Red Oak Development, L.L.C. (collectively, the Developer) have entered into an
Intergovernmental Cooperation Agreement dated as of May 15, 2006 (the Agreement); and
WHEREAS, the District desires to issue TDD Bonds (as defined
in the Agreement) to fund
Transportation Project Costs (as defined in the Agreement).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
COLUMBIA, MISSOURI, AS FOLLOWS:
SECTION 1. Consent to Issuance of
Bonds. The City Council hereby consents to the
District s issuance of its Transportation Sales Tax Revenue Bonds (the Bonds), in
aggregate principal amount not to exceed $12,285,000, to (1) fund Transportation Project Costs,
(2) fund a debt service reserve fund, (3) fund capitalized interest on the Bonds, and (4) pay the
costs of issuance of the Bonds.
SECTION 2. Further Authority and Direction. The City Manager or his designee is
authorized to take such further action and execute such other documents, certificates and
instruments as may be necessary to carry out the intent of this resolution.
ADOPTED this 18th day of September, 2006.