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CITY OF RIVERSIDE <br />INDUSTRIAL DEVELOPMENT <br />AUTHORITY <br /> <br />Minutes off <br />Time of Meeting: <br />Place of Meeting: <br />Date of Meeting: <br /> <br />Special Meeting of Industrial Development Authority <br />9 a.m. <br />Art Pick Council Chamber, City Hall <br />June 19, 2001 <br /> <br />WARDS <br /> <br />Roll Call: <br /> <br />In the absence of Mayor Loveridge, Mayor Pro Tempore Beaty called the meeting to <br />order at 10:20 a.m. <br /> <br />DISCUSSION CALENDAR <br /> <br /> INDUSTRIAL DEVELOPMENT BONDS - SABERT CORPORATION <br /> 860 PALMYRITA - RESOLUTION <br />Following discussion, the Authority approved the recommendations of the City <br />Council Finance Committee and staff to adopt a resolution authorizing the Chairman <br />or Vice Chairman of the Authority and City Manager of the City of Riverside, on <br />behalf of the Authority (each, an "Authorized Officer") to execute by manual or <br />facsimile signature and deliver the documents listed in the resolution and any other <br />related documents as necessary; and the Secretary or the Secretary's duly designated <br />of the Authority to attest thereto, with such non-substantial changes and <br />as may be necessary to cause the same to carry out the intent of said <br />resolution for the placement and issuance of not to exceed $7,000,000 aggregate <br />principal amount of Industrial Development Authority of the City of Riverside <br />variable rate demand industrial development revenue bonds, series 2001 (Sabert <br />Corporation Project) for the acquisition, construction, and installation of certain <br />property and equipment to benefit Sabert Corporation in the construction of a new <br />facility on 16.6 acres at 860 Palmyrita Avenue in the Hunter Business Park <br />whereupon, Resolution No. 52 of the Industrial Development Authority of the City of <br />Riverside Authorizing the Placement and Issuance of Not to Exceed $7,000,000 <br />Aggregate Principal Amount of Industrial Development Authority of the City of <br />Riverside Variable Rate Demand Industrial Development Revenue Bonds, Series 2001 <br />(Sabert Corporation Project) for the Acquisition, Construction and Installation of <br />Certain Property and Equipment, Providing the Terms and Conditions for the <br />Placement and Issuance of Said Bonds and Other Matters Relating Thereto and <br />Authorizing the Execution of Certain Documents Herein Specified, was presented and <br />adopted. <br /> <br />ORAL COMMUNICATIONS FROM THE AUDIENCE <br />There were no off-agenda comments presented at this time. <br /> <br />The Authority was adjourned at 10:30 a.m. <br /> <br />Respectfully submitted, <br /> <br />C~LL-EE~_ J. 1;q~OL <br />Authority ' ekS.9.gr.~l ary <br /> <br />Present <br /> <br />Motion <br />Second <br />All Ayes <br /> <br />MEMBERS <br /> <br />IDA-374 <br /> <br /> <br />