HomeMy WebLinkAboutR82-526RESOLUTION NO. R82-526
9
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW,
TEXAS APPROVING AN APPLICATION FOR FINANCIAL PARTICIPATION
IN THE ISSUANCE OF INDUSTRIAL REVENUE BONDS BY EMCO MANU-
FACTURING CORPORATION OF PLAINVIEW FOR AN EXPANSION PROGRAM
AND CALLING A PUBLIC HEARING FOR ?:30 P.M., TUESDAY, JULY 27TH,
1982.
WHEREAS, by action of the City Council in April, 1980, the Plainview
Industrial Development Authority, Inc. was created,a non-profit Industrial
Development Corporation for the issuance of tax exempt industrial revenue ~.
bonds as allowed by the State of Texas Development Corporation Act of 1979; and
WHEREAS, an application for financial assistance must first be submitted
to the Board of Directors of the Plainview Industrial Authority, Inc. and
then upon their approval be submitted to the Plainview City Council for the
purpose of holding a public hearing; and
WHEREAS, on the 8th day of July, 1982, the Plainview Industrial
Development Authority, Inc. Board met, reviewed and recommended the approval
of the financial application submitted by EMCO Manufacturing Corporation
of Plainview in the amount of $1,250,000 to be used for expansion to the
present plant facilities:
NOW, THEREFORE BE IT RESOLVED by the Mayor and City C'ouncil of the
City of Plainview, Texas that this application for financial participation
by EMCO Manufacturing Corporation pursuant to the Development Corporation
Act of 1979 be received and a public hearing be called for 7:30 p.m., Tuesday,
July 27, 1982.
PASSED AND APPROVED on First Reading on 13th day~of July, 1982.
PASSED AND APPROVED on Second Reading on 2?thday of July , 1982.
ATTE ST:
WALTER S. DODSON, City Clerk