HomeMy WebLinkAboutResolution 01-127-CCBOARD OF COUNTY" COMMISSIONERS
Grant County, W&,hington
A RESOLUTION OF THE GRANT COUNTY
BOARD OF COMMISSIONERS APPROVING
THE ACTION OF THE STATE OF
WASHINGTON ECONOMIC DEVELOPMENT
FINANCE AUTHORITY AND THE
ISSUANCE OF NON-RECOURSE REVENUE
BONDS TO FINANCE AN ECONOMIC
DEVELOPMENT FACILITY FOR SMITH
BROTHERS FARMS, INC. ("the COMPANY"),
AND PROVIDING FOR OTHER MATTERS
PROPERLY RELATING THERETO
RESOLUTION NO. 0 1-12 7 -CC
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF GRANT
COUNTY, WASHINGTON, as follows:
WHEREAS, on July 9, 2001, the Washington I,conomic Development Finance Authority
(the "WEDFA') had presented to it Resolution No. W-2001-017 (the "Resolution"), a copy ofwhich
is attached hereto as "Exhibit A," relating to the issuance of non-recourse revenue bonds wherein
the proceeds of which would be loaned to the Company for the construction and equipping of solid
waste disposal facilities located at the Smith Brothers Farms, Inc. dairycattle facility located at Farm
Units 10 and 14, Irrigation Block 83, Columbia Basin Project in unincorporated Grant County (the
"Project"), all as authorized by the Economic Developmcnt Finance Authority Act of 1989, RCW
Title 43, chapter 163, as amended (the "Act"); and
RESOLUTION OF BOCC APPROVING
WEDFA ACTION AND THE ISSUANCE
OF NON-RECOURSE REVENUE [BONDS
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WHEREAS, on July 9, 2001, WEDFA unanimously approved the Resolution; and
WHEREAS, it is the policy of the WEDFA not to issue revenue bonds except upon the
approval of the county, city or town within whose punning jurisdiction the proposed industrial
development facility lies; and
WHEREAS, the Project lies within the boundaries of the unincorporated Grant County,
Washington;
NOW, THEREFORE, IT IS HEREBY FOI'ND, DETERMINED AND ORDERED as
follows:
Section 1: The Grant County Board of Commi ssioners (the `BOCC"), pursuant to the request
of the WEDFA, does hereby approve the issuance of cion -recourse revenue bonds (the "Bonds") by
the WEDFA, for the purposes provided in the Act.
Section 2: The Bonds shall be issued in the aggregate principal sum of not to exceed
$4,000,000.00 (Four Million and No/] 00 Dollars) pursuant to a Resolution of WEDFA. The
proceeds of the Bonds are to be lent to the Company, pursuant to a loan agreement or other
appropriate financing agreement, and used for the purpose of constructing the equipping the Project,
including the necessary appurtenances, located within the boundaries of the unincorporated Grant
County and to pay certain costs of the issuance of the Bonds.
Section 3: The Bonds shall not constitute an rbligation of the State of Washington or of
Grant County, and no tax funds or revenues of the Stai e of Washington or of Grant County shall be
used to pay the principal or interest on the Bonds Neii her the faith and credit nor any taxing power
RESOLUTION OF BOCC APPROVING
WEDFA ACTION AND THE ISSUANCE
OF NON-RECOURSE REVENUE BONDS
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of the State of Washington or Grant County shall be pledged to pay the principal or interest on the
Bonds.
Section 4: The BOCC hereby approves the issuance of Bonds by WEDFA for the purpose
of financing the Project as described herein, a qualified project under the Act. However, such
approval shall not waive any of the permitting requirements applicable to this project.
Section 5: This Resolution is intended to constitute approval of the issuance of revenue
bonds within the meaning of the policy of the W EDF A,
Section 6: Upon passage and approval of thi, Resolution, it shall take place immediately.
ADOPTED by the Board of County Commissioners of Grant County, Washington, this
31st day of July, 2001.
BOARD OF COUNTY COMMISSIONERS
GRANT COUNTY, WASHINGTON
LeRoy C_ Allison, Chair
Tim Snea , Meiniber
Deborah Kay Moored ember
ATTEST:
RESOLUTION OF BOCC APPROVING
WEDFA ACTION AND THE ISSUANCE
OF NON-RECOURSE REVENUE BONDS
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("jt+
Peggy 91 4hgg vy
Clerk of the Board
APPROVED AS TO FORM:
Prosecuting Attorney
RESOLUTION OF BOCC APPROVING
WEDFA ACTION AND THE ISSUANCE
OF NON-RECOURSE REVENUE BONDS
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