HomeMy Public PortalAboutORD09772 BILL NO. �.
INTRODUCED BY COUNCILMAN
ORDINANCE NO.
ii AN ORDINANCE APPROVING AN INDUSTRIAL DEVELOPMENT PROJECT
�. FOR SCHOLASTIC INC. , A NEW YORK CORPORATION, AND CALLING A
SPECIAL ELECTION IN THE CITY OF JEFFERSON, MISSOURI, ON THE
QUESTION WHETHER TO ISSUE THE INDUSTRIAL REVENUE BONDS OF THE
CITY OF JEFFERSON, MISSOURI , IN THE AMOUNT OF $7,000,000 FOR THE
PURPOSE OF PROVIDING FUNDS TO PAY THE COSTS OF PURCHASING AND
CONSTRUCTING AN INDUSTRIAL DEVELOPMENT PROJECT TO BE LEASED AND
OTHERWISE DISPOSED OF TO SCHOLASTIC INC. , A NEW YORK CORPORATION,
INCLUDING REAL ESTATE, BUILDINGS, IMPROVEMENTS, FIXTURES,
MACHINERY, AND EQUIPMENT, THE PRINCIPAL OF AND INTEREST OF SAID
REVENUE BONDS TO BE PAYABLE SOLELY FROM THE REVENUES DERIVED
FROM SAID PROJECT AND NOT TO BE A GENERAL OBLIGATION OF THE
CITY; DESIGNATING THE TIME OF HOLDING SAID ELECTION; AND AUTHORIZ-
ING AND DIRECTING THE CITY CLERK GIVE NOTICE OF SAID ELECTION. I
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI , AS FOLLOWS:
j SECTION 1. That the City Council hereby approves the industrial
development project relating to purchasing and constructing of an
industrial plant to be leased and otherwise disposed of to Scholastic
ji Inc. , a New York corporation, at the total estimated cost of $7,000,000, '
!' which project was duly approved by the Division of Commerce and
Industrial Development of the State of Missouri, and is more fully
described in the Application filed by the City with said Division of
Commerce and Industrial Development to secure such approval.
SECTION 2. That a special election is hereby ordered to be held
�j in the City of Jefferson, Missouri, on Tuesday, June 8, 1982, on the
(11 following question:
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QUESTION
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Shall the City of Jefferson, Missouri, issue its
industrial revenue bonds in the amount of $7,000,000 for the
purpose of providing funds to pay the costs of purchasing
and constructing an industrial development project to be
leased and otherwise disposed of to Scholastic Inc. , a New j
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York corporation, including real estate, buildings, improve- {
�I ments, fixtures, machinery, and equipment, the principal of j
!++ and interest on said revenue derived from said Project and
4 not to be a general obligation of the City?
SECTION 3. That the form of the Notice of Bond Election for said
special election, a copy of which is attached hereto and made a part !
! hereof, is hereby approved. f
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I SECTION 4. That the City Clerk is hereby authorized and directed
to notify t e County Clerk of Cole County, Missouri, of the adoption of '
jthis Ordinance no later than 5:00 o'clock P.M. on April 20, 1982, and
i to include in said notification all of the terms and provisions required
by the Comprehensive Election Act, Chapter 115, Revised Statutes of
Missouri, 1978, as amended.
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SECTION 5. That this Ordinance shall be in full force and effect
I� from an air its final passage.
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PASSED _/ 9. k 2. Approved I/
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UresidAnt of the Wounril Mayor v
ii ATTEST:
!i Citj Cler1k
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