12-19-2000 IDA MINUTES - Laserfiche WebLink

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CITY OF RIVERSIDE MEMBERS ~of: Date of Meeting: Time of Meeting: Place of Meeting: Industrial Development Authority December 19, 2000 9 a.m. Art Pick Council Chamber, City Hall WARDS Roll Call: In the absence of Chairperson Loveridge, Councilmember Defenbaugh called the meeting to order at 10:30 a.m. DISCUSSION CALENDAR INDUSTRIAL DEVELOPMENT BONDS - SABERT CORPORATION PALMYRITA/NORTHGATE/COLUMBIA - RESOLUTION The Authority approved the recommendations of the City Council Finance Committee and staff to (1) approve the Resolution of Intention for the issuance of Industrial Development Bonds not to exceed eight million dollars in furtherance of Sabert Corporation's proposed construction of a new facility in Riverside at a site consisting of 16.6 acres in the Hunter Business Park at Palmyrita Avenue, Northgate Street, and Columbia Avenue; (2) authorize the City Clerk to publish the notice of receipt of the Industrial Development Bonds Pre-Application and notice of a public he~g in a newspaper of general circulation in the City; and (3) appoint Sam Balisy ottak Rock L.L.P. as legal bond counsel to advise the City and to assist in the fih't~' of said Industrial Development Bond application on behalf of Sabert Corporation and authorizing the City Manger, or his designee, to execute the legal services agreement; whereupon, Resolution No. 51 of the Industrial Development Authority of the City of Riverside Making Determinations With Respect to the Financing of Facilities for Sabert Corporation Or a Related Entity and Declaring Its Intent to Reimburse Certain Expenditures from Proceeds of Indebtedness, was >resented and adopted. 3RAL COMMUNICATIONS FROM THE AUDIENCE There were no off-agenda comments presented at this time. The Authority was adjourned at 10:35 a.m. Respectfully submitted, COLLEEN J./NI~OL Auhtority Se~ Present Motion Second All Ayes IDA-373