HomeMy Public PortalAbout82-1 - LIDARESOLUTION N0. LIDA 82=1
RESOLUTION OF THE LYNWOOD INDUSTRIAL DEVELOPMENT
AUTHORITY ADOPTING BY-LAWS, PROCEDURES AND APPLI-
CATION FORMS, AND DESIGNATING OFFICERS.
WHEREAS, on May 18, 1982 the City Council of the City of
Lynwood adopted Ordinance No. 1167 declaring that an industrial de-
velopment authority is needed and shall function in the City of
Lynwood; and
WHEREAS, by Resolution No. 82-68 the City Council of the
City of Lynwood designated itself as the Board of Directors of the
Lynwood Industrial Development Authority; and
WHEREAS, the California Industrial Development Financing
Act authorizes the adoption of By-laws and Procedures by an Indus-
trial Development Authority.
NOW, THEREFORE, be it resolved by the Lynwood Industrial
Development Authority, as follows:
SECTION l: The Lynwood Industrial Development Authority
hereby adopts the attached By-laws (Exhibit I).
SECTION 2: The Lynwood Industrial Development Authority
hereby adopts the attached procedures for the submittal and review of
industrial development protect applications (Exhibit II).
SECTION 3: The Lynwood Industrial Development Authority does
hereby adopt the attached industrial development application form
(Exhibit III).
SECTION 4: The Lynwood Industrial Uevelopment Authority does
hereby make the following designation of officers:
The Mayor of the City of Lynwood shall serve as the Chairman
of the Lynwood Industrial Development Authority, and the
Mayor Pro-Tem of the City of Lynwood shall serve as the
Vice Chairman of the Authority. Designation of other
officers shall.be as specified in the By-laws of the Lynwood
Industrial Development Authority.
PASSED, APPROVED AND ADOPTED this 2nd day of
~1W Y 19sz.
-- -`~~ --. LOUIS A. THOMPSON, CHAIR AN
-_'l ~ Industrial Development Authority
`ATTEST:
Andrea Hooper, City Clerk
APPRO ED AS TO CONTENT:
~~ ~ C~~
~ a d a M. Read, Community
Deve opment Director
APPROVED AS TO FORM:
~s~ ---
David-McEwen 'Cit Attorney
U- T is
'L~i_1 FZ_I
INDUSTRIAL DEVELOPP4ENT AUTHORITY OF THE
CITY OF LYNWOOD
BYLAWS
ARTICLE I
SECTION 100. THE AUTHORITY
Section 101. Name of the Authority
The name of the Authority shall be the Industrial Development
,Authority of the City of Lynwood.
Section 102. Authority h1embers
The City Council of the City of Lynwood has declared itself to
be the Authority. The Members of the Authority shall be the Members
of the City Council as that body is constituted, and shall remain
Authority Members only so long as said Members remain on the Council.
New Members of the City Council shall automatically become Members
of the Authority.
Section 103. Compensation of Members
Members may receive their actual and necessary expenses, includ-
ing traveling expenses incurred in the discharge of their duties.
t4embers of the Authority may receive such other compensation as t`e
City Council may prescribe consistent with State and local law.
Section 104. Business Offices of the Authority
Business offices of the Authority shall be in such locations in
the City of Lynevood, State of California, as may be selected from
time-to-time by resolution or motion of the Authority Members. The
principal business offices of the Authority shall be in the City
Hall, 11330 Bu11is Road, Lynwood, California 90262, unless and until
changed by resolution or motion of the Authority Members.
* (As amended and approved by the Lynwood Industrial Development
authority on July 2, 1982)
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ARTICLE II
SECTION 200. OFFICERS OF THE AUTHORITY
Section 201. Designation of Officer
The officers of the Authority shall be the Chairman, the Vice
Chairman, the Executive Director, the Deputy Executive Director,
the Secretary, the Deputy Secretary, the Treasurer and the Deputy
Treasurer.
The Chairman and Vice Chairman shall be selected by and from the
Authority Members. The City Manager of the City shall serve as the
Executive Director; the Redevelopment Manager of the City shall serve
as the .Deputy Executive Director, the City Clerk of the City shall
serve as the Secretary, the Deputy Clerk of the City shall serve as
Deputy Secretary. The Treasurer of the Authority shall be such person
as may be designated by the Authority from time to time, and the
Deputy Treasurer of the Authority shall be the Deputy Treasurer of the
City.
The Authority .Members may appoint such other officers (permanent,
acting, or temporary) as may be appropriate. The Authority Members
may fix and determine-the qualifications and duties of such Authority
officers.
Section 202. Terms of Officers
The Chairman and Vice Chairman shall serve terms ending with the
selection of their successors, or until death, resignation or re-
movel from .office. The selection of the Chairman and Vice Chairman
shall be made at the same time as the annual reorganization of the
City Council.
The Executive Director, Deputy Executive Director, Secretary,
Deputy Secretary, Treasurer and Deputy Treasurer shall hold their
respective offices so long as they hold their designated City offices.
Section 203. Duties of Officers
The Chairman shall preside at the Authority meetings and per-
form such other duties 'as are appropriate.
The Vice Chairman, in the absence or incapacity of the Chair-
man, shall perform the duties of the Chairman. Should the office of
the Chairman become vacant, the Vice Chairman shall perform the
duties of the Chairman until the Authority Ptembers select a new
Chairman.
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De ut
P Iy ExecubivecD'of or incapacity of the Executive
of the Executive erector is hereby authcri Director
Director. zed to ~ the
administration The Executive Directo perform the duties
and affairs ' management, and general r is charged tivith
of the Authority. supervision of the
the business
The Secretary shall kee
minutes of the Authorit p and maintain records of the Authorit
other duties incident to thetings. The Secretary shall also y and
Secretary in the absence of ..orfincapacitheofecretary, The Deputyorm all
form all of the duties of the Secretary,y the Secretar
Y, shall per-
and shall ralsorsupervisesthercare and custod aofaall monies outhority
Authority. The treasurer shall cause ade uate the
accounts of the monies and fiscal transac9ions~ofothecAuthorityutorbe
kept and maintained. The Treasurer shall render to the Members of
the Authority, semi-annually and at such other times as requested by
the the Authority, a Treasurer's report of the Authority's trans-
actions and financial conditions. The Treasurer shall submit to the
htemhers of the Authority significant information and recommendations
concerning the fiscal affairs of the Authority. The Treasurer shall
also perform all other duties incidental to the office of the Treasu-
rer. The Deputy Treasurer in the absence or incapacity of the
Treasurer shall perform all of the duties of the Treasurer.
ARTICLE III
SECTION 300. EMPLOYEES, AGENTS, AND CONSULTANTS
Section 201. Appointment of Employees Agents and Consultants
In general, the day-to-day services required by the Authority
are to be rendered by City employees. The full extent and nature of
such services may be set forth in a contract between the Authority
and the City establishing certain City-Authority relationships.
In addition to the use of City employees, the Members of the
Authority may from time-to-time establish such positions and select
and appoint such agents and consultants, permanent and temporary, as
it may require and determine their qualifications, duties and com-
pensation.
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Section 302. Compensation of Emaloyezs, Acznts, and
Consultants
City employees, including the City Manacer, Redevelopment
Director, City Clerk, Deputy City Clerk, City Treasurer, and
Deputy Treasurer shall receive no compensation for services
rendered to the Authority other than such compensation as they
receive for their City employment unless otherwise approved by
resolution of the Authority and City Council in accordance with
law.
The Authority Members may fix and determine the
compensation of all other Authority employees, aoents, and
consultants.
ARTICLE IV
SECTION 400. GENERAL
Section 401. Authority to Bind Authority
No Member, officer, agent or employee- of the Authority,
without prior authority by a vote of the Authority Members,
shall have any power or authority to bind the Authority by a
contract, to pledge its credits, or to render it liable for any
purpose in any amount.
Section 402. Contracts, Deeds and Other Documents
Except as otherwise required by 1a w, the Chairman, or in
his absence or incapacity the Vice Chairman, shall execute on
behalf of. the Authority all contracts, deeds, resolutions anc
other documents authorized by the Authority Members. The
Executive Director, or in his absence or incapacity, the Deputy
Executive Director, is authorized to execute and acknowledge
any grant deeds, lease agreements, loan agreements, sublease
agreements, deeds of trust, escrow instructions or other
instruments with respect to real property either owned by the
Authority or in which the Authority has an interest. Tnz
SeC1"eta~y shall .attest t0 all SdCh Sig::atllres. NOthine ner21?]
contained shall prohibit or be construed to prohibit the
Authority Members £rom authorizing any other officer or
employee of the Authority to so execute such instruments and
documer.~s,
Sec~ion 403. Payment of Money, Notes er Other Indebtedness
=11 C_e C~:S, G.a. .S Gr Gt'.:=r CrQer _Or t.:e pay;aent Of _!Only,
nOt__ _ _ Oth°r eV1dc^Ce G. i~~CcDte d"ic SS _S~..eC iri tha na;~a Gr
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adjourned to a stated time and place and shall cause a written
notice of the continuance or adjournment to be given in the
same manner as provided for special meetir.as. A cony cf the
order or notice of continuance or adjournment shall be
conspicuously posted on or near the door of the place where the
meeting was held within 24 hours after the. time of the
continuance or adjournment. When a regular, continued, or
adjourned regular. meeting is continued or adjourned as provided
in this Section, the resulting. continued or adjourned regular
meeting is a regular meeting for all purposes. When an order
or continuance or adjournment of any meeting .fails to state the
hour at which the continued or adjourned meeting is to be held,
it shall be held at the hour specified for regular meetings.
Any public hearing being held, or any public hearing
noticed or ordered to be held at any meeting may by order or
notice of continuance or adjournment be continued, recontinued,
closed, subject to being reopened at a specified subsequent
meeting, adjourned, or readjourned to any .subsequent meeting in
the same manner and to the same extent set forth for the
continuance or adjounment of meetings.
If any meeting or public hearing is continued or adjourned
to a time less than 24 hours after the time specified in these
Bylaws or in the order or notice of meeting or hearing, a copy
of the order or notice of continuance or adjournment shall be
posted immediately following the meeting at which the order or
declaration of continuance or adjournment was adopted or made.
Section 506. Meetings to be Open and Public
All meetings of three or more Authority Members at which
they intend to take action or to deliberate concerning
Authority business shall be open to the public to the extent
recuired by law. All persons shall be permitted to attend any
such meetings except as otherwise permitted by law.
Section 507. Quorum
A majority of the Members of the Authority shall constitute
a quorum for the purpose of conducting its business, ez:ercisinc
its powers, and for all other purposes. A smaller nur~oer of
Authority Members may adjourn a meeting from time-to-time until
a quorum is present.
If a quorum is present action may be taken by the Authority
only upon a favorable vote of the majority of the number of
Authority Members present.
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Section 508. Order of Business
The Authority may establish from time tc time the general
order Or business at AllthOritg' neeting5. ~= any meet=n G, th°_
Authority Members, by a vote of .a majority of the Members
present, may change the order of business.
ARTICLE VI
SECTION 600. AMENDMENT OF THE BYLAWS
The Bylaws shall be amended only with the approval of at
least a majority of the Members of the Authority at an
Authority meeting,• but no amendment shall be adopted unless at
least seven days written notice of the general nature thereof
has been sent previously to all Members of the Authority.
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EXHIBIT Ii
LYNWOOD
INDUSTRI,4L DEVELOPMENT AUTHORITY
PROCEDURES
The following statement
state law to process an
Development Authority.
1. Applicant has an ini
ity. If indications
form with procedures
outlines the basic steps prescribed by.the
application through the Lynwood Industrial
tial consultation with the staff of the Author
seem positive, staff issues the application
and fee schedules.
2. Subsequently, the staff will accept a completed application for
review and will make a preliminary determination of public benefit
criteria and other provisions of law and make recommendations to
the Authority. Acceptance of the application in no way obligates
the ,4uthority to approve the project.
3. If, on the basis of review under step ~~2, an affirmative determi-
nation is made (a) the Authority must certify the application and
make a finding of public benefit, (b) a copy of the certified
.application is then filed with the City Council, and (c) a
notice is published which indicates the acceptance of the appli-
cation, the filing with the City Council. The notice also names
the company, briefly summarizes the project and states the
maximum estimated amount of the bond issue.
4. Upon completion of the steps indicated above, the City Council
must take an action to approve or disapprove the application
within 45 days.
5. Once the City Council approves the application, the City Clerk
certifies the Council action and transmits all supportive materials
studies, etc. tc the Authority's staff. At that time, payment of
a non-refundable fee of $1,250 will be required. The balance
of the processing fee and recovery of any additional costs will
be paid at the time of final Authority approval of the issue.
6. Upon certification and transmittal of the City of Lynwood's
approval to the Authority's staff, the proposed bond issue to-
gether with any required State fees and documentation is trans-
mitted to the California Industrial Development Financing ,4d-
visor~~ Commission, which is chaired by the State Treasurer,
has sixty (60) days from the date of receipt of application to
make a determination of approval or disapproval. Such approval
or disapproval will be made on the basis of its findings on
the following criteria.
a. Public benefit of the protect
b. Determination of whether the protect er its operation will
result in the relocation or abandonment of other facilities
within the State.
c. Specific conditions relating to financial, credit viability and
other detailed characteristics of the bond issue and its sale
(these conditions are outlined in Article 5 of the California
Industrial Development Financing Act and are similar to the
requirements outlined above).
7. The State Advisory Commission transmits its approval or disapprova
of the protect of the Industrial Development Authority.
8. If the Authority, the City Council and Advisory Commission all
approve the protect and a minimum of 30 days from the filing of
public notice have elapsed, the Authority enters into a Protect
Agreement with the applicant. A Protect Agreement is a contrali-
between the Authority and the applicant to ensure that the apP
cant will comply with all osedldevelopmenttandfansched9le of is
to include a scope of prop
performance.
9. After the Protect Agreement is signed, the Authority, be resolutic
approves and issues the bonds. At this time, the balance of
the application fee or u of 1% of the bond issue less $1,250, and
recovery of any additional costs will be paid by the applicant.
It must be noted that the issuance of these bonds constitutes no
liability for, and does not affect the credit of, the City or the
State. They are special obligation bonds supported only by the
credit of the applicant and the soundness of the protect.
FEE SCHEDULE
The law establishing the Industrial Development Authority permits th
Authority to recover processing and administrative costs related to
the issuance of the industrial bonds. The Authority will collect
an application fee of up to u of 1% of the amount of the bond issue,
and will also recover, at the time of issue, any out-of-pocket ex-
penses.
Within the constraints of these provisions, the Lynwood Industrial
Development Authority has developed the following fee schedule to
be used in the program:
1. Upon the finding and certification of public benefit by the
Authority and the City Council (steps 1-5) and prior to trans-
mittal of the application to the California Industrial Cevelop-
ment Financial Advisory Commission, a non-refundable fee of
$1250 will be required to cover administrative expenses. .This
fee is in addition to any required state filina_ fee. At the time
of final Authority approval the balance of the ~ of 1% applica-
tion fee.must be paid.
2. Other fees may be required in the Protect Agreement to cover
additional expenses which have not beer, covered by these
processing fees.
Exhibit III
Office Use Onl
Application No.
Date Received _
Date Aanroved
LYNWCOD
INDUSTRIAL DEUII,OPMEN'I' AUTHORITY
PRQTECr ELIGIBILITY REVIEW
Tire information requested on this form is necessary to process a r~~est for
financial assistance from the Lynwood Industrial I~velcpm2nt Authority.
Fill in all the blanks using "NONE" or "NOT APPLICABLE" wh.,ere necessary. If
fig'.~x~e given is an estimate, put "EST." after the figure. If rare space is
needed for any specific answer to a question, use a separate sheet. A11
information submitted in this form will be kept confidential to the extent
entitled by law and will not be made public without prior notice to the
applicant., Please enclose the last fiscal year-end financial stat,.~nt plus
any interim statements if available. The information r~uired may be waived
at tP.e discretion of the Executive Director of the AL-thORty. R2tu-n tao
signed copies of this application to:
Lynwood Industrial Development Authority
Concrnuv_ty Development Departrrent
ll330 Bullis Road
Lynwood, Gz 90262
I. IDENTIFICATION AND DESCRIPTION OF TfiE APPLICA:TT
A. Company Identification
1. Official Company Name:
Official Mailing Address:
Telephone:
2. Business Organization: Corporation Partner-
ship Sole Proprietorship or Other
(describe)
Zs the Company
owned by an individual
a subsidiary
affiliated directly or indirectly with any other
organization?
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If a corporation, list state of incorporation _
ar_d dd*_e qualified to do business in California
If a partnership, list name of partnership
and date of agreement
If a subsidiary or af=ilidted with another company give
name
ment of affiliation of relationship
President
3. Officers
name and Home address
vice President
and brief state-
Other 3usiness a?filiatiens
Secretary
`?~r edSllrer
Controller
Directors
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Vame
4. I..iSt nat'ile and ;'.Cme 3ddreSS Of eCyu'_ty OWnerS Of 1~~ Or
^Ore. I. pdrtnerShlD, 115t ge.^_erdl a:'id 11:'.11 ted DdrtnErS
and interest owned by each. T_f trust, list benefi-
ciaries.
~ of Ecuitv
Home Address Interest Cwned
B
5. For publicly-held corporations, show stock exchange on
which listed. If traded over tre counter, or on VaSDaQ,
please list the mar'{et makers:
Comoanv Descriation
1. Standard Industrial Classification (SIC) Code No. of
Company:
2. Descripticn of principal products and/or services:
3. List nu.*nber of current full and part-time employees, ar_d
payroll, by skill category.
Management
Skilled
Semi-skilled
Unskilled
Full-time
annual
Payroll
amount
Part-ti ~<<e
annual
Payroll
amount
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4. ..Description of company.'s physical facilities:
5. Financial statements (attach as exhibits)
a. For publicly held companies:
Copies of the arnuai report to stoc'<holders for
each of the last three years; conies of any
registration statements, prospectuses and 10-n`s
filed with the Securities dnd exchange Coc:nission
Wlthln edCh Of th°_ last triree VearS; dnd rppies Of
the applicant's last 10-Q and most recent 8-~.
b. For all other companies:
1. History and brief description of the
applicant, any guarantor, and any
subsidiaries, including type of products
manufactured, present and future mar'.<ets and
prospects.
2. Resume of ma:.agenent and ownership, including
age, business experience ,. length of
association with company, salary arc other
compensation, and dir=_ctors with outside
affiliations.
3. Description of any pending litigation.
4. Copies of audited Fiscal year-end statements
for preceding three years.
- 5. Interim financial statements for periods
within sixty days of the application.
II . CO.iT~CT Ii7t OR:•SATIO:I
P,. Officer to whom all notices and communications concerning the
project should be sent:
;tame
address:
Telephone:
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9. Legal. counsel to applicant.:-
Vame:
Address:
Telephone:
C. ?rincipal bank(s) ;pith names and prone nu_:.bers of contacts
there.
Vame: Contact:
Address: Phone:
3ase : Contact
Address: Phcne:
D. Independent accountant nor applicant:
Firm name:
Address:
Telephone:
III. DESCRI?TION OF TH PROJECT
A. Project location and site indormatio;,
1. Address:
2.
3.
Size of Site:
Description of current improvements on the site,
including age, use and size; include pictures i£
available.
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4. Estimated useful life of buildings and/or equipment:
S. Brief explanation why applicant is undertaking project:
3. Ownership
1. Does applicant own site? ves no.
2. If no, describe lease arrangements, options or other
evidence of applicant's permission tc use site, or plans
to acquire sit=_.
3. Please attach copies of any credit agreement, debt
indenture or other instruments which in any way limits
aDD 1lCdn t'S lndebtednes5 Or affects the Sd le, leaSlrg,
acquisition or use of property or applicant's proposed
operations at t're project.
C. Proposed Project
1. Type of project (new facility, expansion, renovation, or
acquisition) describe in detail:
2. Estimate time required for construction:
Starting date Completion date
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3._ ?rinc'pol prOduCtS, uses d,^.d dCt1V1t1°_S tO be fiP.d nCeCa
(include SLC Code):
D. Eligibility of project uses - A statement of eligibility of
the project for financing under Section 91503 of tr.e act.
attdCh a letter from bORd COllnSel dtteSting tO the prOjeCt'3
eligibility:
1. Project is for industrial uses as described in
paragraph (a)(1) of Section 91503, ar.d/or for =_rergy
conservation uses as described in paragraph (a)(2) of
Section 91503.
2. a statement that the project is not for the uses
described under pardgraph (b) of Section 91503.
3. any covenants or bond terms restricting the use of the
facilities or property
E. Pllbl1C apDLOV31s/Permlt5
Have all required permits, licenses ar.d other aublic
dAprOVdlS, (ELR, COP.d].tlOnal u52 per:<<1.t, general elan
CCPD l1.dnCe, Dllb liC wO r'.~GS, ZO[77.Rg, lOCal, S tats dnd federal
regulations) been obtained? yes no. Lf no, pledse
show status dnd expected resolution of incomplete activity
Lf yes, please describe
F. Bond counsel on proposed project:
Firm name:
address
Phone: ( )
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G. Please-indicate file estimated Cdpi tal eYpel`idltLlr eS during tale
last three VearS wLll Cil were made in file DOli t7.Cal
]L'r15d1Ct'_On (Clty Or llnlnCOrpOrdted COUntV), Of to DrOD052d
project for facilities used by the Applicant, or any other
proposed occupant of the project
cr'ere any Of these expend_tures financed by issuance of
industrial development bonds? ves no.
If yes, please describe
H. :lave any of the Anali,cant's facilities or equipment in other
political jurisdictions of the nation been financed by
industrial development bonds? yes no.
If yes, please describe
I~7. COSTS 0: TT:E PROJECT
State the costs necessary for tre acquisition of the site and
construction of the proposed project togetil=_r with any machinery
and equipment in connection therewith, including utilities, access
roads, and appurtenant facilities.
~. E%ISTING LAND A~~ID BUILDINGS .......................$
1. Contract price $
2. Legal, filing, misc. $
3. Taxes and fees $
' Subtotal $
B. ARCHITECTUR.~.I. AND ENGI:IEERIDIG ..................... S
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C. CONSTRUC^t ION COSTS
1. Architectural and engiaeerinc $
2. Site preparation $
3. Materials $
4. Labor $
~. Construction contracts $
6. Utilities connection $
7. Paving and landscaping $
D. .MACHINERY AND EQUIPMENT ......... .......... $
........
1. Invoice cost $
2. Installation $
E. INTEREST DURING C02iSTRCJCTION (FR GM TO ) $
F . FINANCING, LEGAL, i42SCELL?DiEOUS (PLEASE SPECIFY) $
G. CONTI~IGE2ICY (if appropriate) .... .................. $
TOTAL .. .................. 5
idAXI.SUM P~NGUNT OF F UNDS REQUESTED
S
Note: Project costs may not include working capital; roving
expenses; inventory financing; or assumption, repayment, or
refinancing or existing indebtedness other than construction
loans.
V. DESCRIPTIGN OF THE PROPOSED ISSUANCE OF THE BONDS
A. Type of alacement; Private
Public
negotiated
B. Proposed terms of the bonds years.
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C. Lzdicate method of fir_ancing:
1. Loan OL bOnd DrOCeedS bV I.Ii~71 t0 ACO IiCant
Z. Lease of facilities by LIRA to Applicant
3. Installseat sale of facilities by LIr_A to
vI.
Applicant
4. Other
D. Indicate the collateral for the bonds and the method of
payment; identify revenues to be used for debt service:
E. Identify the groposed purchaser of the bonds, underwriter or
placement agent for the Applicant:
Name of purchaser:
Officer or partner:
Address:
Telephone:
Attach a cony of tentative commitment letter from such
prospective purchaser of tentative agreement with such
underwriter or glacement agent.
F. Will the bonds be issued in exchange for one or more
outstanding bonds, or similar claims, or nartl_v in such
exchange and partly for cash or property? yes no
If yes, describe exchange or refunding
DESCRIPTION OF PUBLIC BENEFITS
Benefits which would accrue from undertaking .the aroject, pursuant
to criteria contained in Section 91502.1. (If applicable,
information in this section is to be given for both the Applicant
and all other entities that will be principal users of the
facilities).
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a. Employment benefits -
1. Indicate full-tire employment and aayroll for various
categories:
at Project Upon Completion 1 fear after 2 fears after
Site Tcdav of Project Completion Completion
S J' r j ? $
?anagement
Skilled
Semi-skilled
Unskilled
TOt31
2. If part-time workers will be employed, attach
description as above.
3. Estimate, if applicable, increased employment and
payroll in related and service fields due to t:.e
completion of the project.
4. Indicate, it applicable, anticipated it„pact o*_" the
proposed new jobs on problems of severe unemployment or
the hard core unes,ployed.
5. Document, if apalicable, that the completion of the
project will retain jobs that would otherwise be lost.
B. Resource Conservation (if applicable)
1. Explain and document ary estimated conservation of
energy, mineral or natural or cultivated resources
arising out of the project.
2. Explain and document any reduction of waste, improvement
of recovery or intensification of utilization of
resources that otherwise would be less inter.sivel_v
utilized, wasted or rot recovered.
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C. Consumer benefits (if applicable)
1. ~Yp 131n and dOCll:iie Rt t:7e 1 ip rOVement Oi Clla11 t'! Or
QL'3n t1tV OL prO dt2CtS, energy Or re lateQ 3erV 1CeS bV
Vlrtue Of COmp12t.10n Of the project.
D. Other Benefits
1. F7i11 project contribu*_e to the ima_rove.^..ert of
detrimental environment factors? yes no. If
yes, attach description.
2. 'Ni11 project contribute to the revitalization of a
deteriorated area or will it i..^.crease economic
usefulness of an area? ves no. If yes, attach
description.
3. Estimate any increased local and state tales, fees and
other revenues due to the completion of the project.
4. Estimate any decreases of public service costs by virtue
Of completion OL t.^.e pr0]eCt (SliCh dS deCreaSed :Je~L3re
or unemployment costs).
VII. ?. DESCRIPTION OF ~~IY 2UBLIC DETRIMENT FROiI ISSU?.i~ICE OF 30t1DS IV
THE. bL~{Ii!Ubl .-1bi0UNT PROPOSED IN THE APPLIC~TIGN.
a. Employment displacement -- will the completion o° the project
contribute to job disalacements (such as resulting from site
clearance or demise of competing firms? ves no. If
yes, attach description.
B. Energy, mineral or natural or cultivated resource ~..^.,pact --
will the completion of the project lead to increased
utilization of scarce resources? yes no. If yes,
attach description.
1. Estimate of increased utilization of resources.
2. Estimate of increases in cost to the public due to
increased utilization.
C. Does constructien of the project, or commpletion of the
project have any adverse environmental imaacts, inclucing
additional waste disposal? _yes no. If yes, attach
description.
1. Estimate of environmental imaacts.
2. Include copies of any required environmental is~pact
reports.
- 12 -
~ N
• .. .. -_ -
D. Ecoramic impact or. the city, county and/or state.
~ EStlmdte types and COSts Ot r.ew Dubi1C 52 r'liCeS required
by the project. "
2. analysis of the costs to the city, county ar.d/or state
fOr DLliJ11C lmp rover..ents 1riC ludl.,g Ctl li ty, Street
improvements, traffic CCntrOl eri:: d.^,C eIi~e nt, 3n d file COSt
of financing such improvements.
'v II-T. A DESCRIPTIOD7, IF APPLICABLE, OF THE STATEWIDE SIZE ARID LOCATION OF
THE OPERATIONS Cc THE APPLICANT (including related persons and
principal users).
A. A listing of the current statewide operations of the applicant
ircludirg size, location, nu:;,ber o= employees and payroll.
B. A listing o' the statewide operations of the Applicant upon
COmpletlOn Of th2 project, lncluding size, lccation, nur,.ber of
employees ar_d payroll.
C. A listing of the statewide operations of the Applicant two ye_rs
after completion of the project, including size, location,
nuriber of employees and payroll.
D. Relocation - If financing is recuired for relocation of a
facility within the State of Califo__*aia, documentation that the
relocation is due to one of the followine:
1. An inadequacy of the existing facility.
2. A significant change in the firm's operaticr.s thdt would
require a different location.
3. A building moratorium where the existing facility is
located.
4. The existing lease is expiring and cannot be r=_newed under
economic conditions.
5. An economic need to move clos=_r to the_`irm's customers or
suppliers.
6. Other.
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IX
X
IMPORTAPIT NOTICE TO APPLICANT
Approval for financial assistance by the Lynwood Industrial
Development Authority is determined by the information pre-
sented in this application. Any changes in the status of the
proposed project from the facts presented herein and the exhibits
attached could disqualify the project and cause it to be ineli-
gible for financial assistance. In general, commencement of
construction or any award of contract with respect thereof, in-
cluding equipment therefor, or the execution of any contract
for the final acquisition of the proposed project, prior to formal
approval by the Authority where such construction or acquisition
is to be financed by a tax-exempt issue, is likely to result in
the application being ineligible for approval.
CERTIFICATION
It is hereby represented and certified by the undersigned that
to the best knowledge and belief of the undersigned, the informa-
tion contained herein and attached hereto is accurate and correct
and truly descriptive of the project, the Applicant and any
guarantor or other proposed project occupant.
APPLICANT:
By:
Title:
DATED:
-14-
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Industrial Development
Authority, do hereby certify that the above and foregoing resolution was duly
adopted by the said Authority at a regular meeting thereof
held in the City Hall of the City of Lynwood on the 2nd day of
July 1982, and passed by the following vote:
AYES: Authority Member Byork, Green, Morris, Rowe, Thompson
Noes: None
Absent: None
~~~~ C.~f
Secretary
LYNWOOD INDUSTRIAL DEVELOPMENT AUTHORITY