HomeMy WebLinkAbout1981-050-03/31/1981-SETTING FORTH THE CITY OF FORT COLLINS' INTENT TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS TO FINA RESOLUTION 81-50
A RESOLUTION SETTING FORTH THE CITY OF
FORT COLLINS ' INTENT TO ISSUE INDUSTRIAL
DEVELOPMENT REVENUE BONDS TO FINANCE A
PROJECT FOR AIRWEST HELICOPTERS, INC
WHEREAS, representatives of Airwest Helicopters, Inc
(the "Company") have met with officials of the City of Fort
Collins, Colorado (the "City") , and have advised the City of
the Company' s interest in having the City issue industrial
development revenue bonds pursuant to the Colorado County
and Municipality Development Revenue Bond Act constituting
Article 3, Title 29 , Colorado Revised Statutes 1973 , as amended
(the "Act" ) , to finance the purchase of two buildings and to
finance the acquisition and construction of improvements thereto
and equipment therefor to be used for fixed based airport opera-
tions (the "Pro3ect") to be owned by the Company, and
WHEREAS , the City Council has considered the Company's
request and has concluded that the issuance of such bonds for
such purposes will provide more adequate airport facilities and
will promote trade and produce economic benefit for the City
and desires to indicate its intent to proceed with the financing
of the Project
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT COLLINS, COLORADO
Section 1 In order to assist and to induce the Company
to locate the Project in Larimer County within eight miles of the
corporate limits of the City, it is the City Council ' s intent
to take all necessary or advisable steps (i) to effect the issuance
of industrial development revenue bonds in the maximum aggregate
principal amount of $1 , 500 ,000 or such lesser amount as shall be
-3-
determined and agreed upon by the Company and the City to finance
the Pro3ect
Section 2 No costs or expenses shall be borne by the
City in connection with the issuance of the industrial develop-
ment revenue bonds, the preparation of any documents relating
thereto or any legal or financial consultants retained in
connection therewith
Section 3 Prior to the execution of any financing
agreements , mortgages or indentures of a trust, bond purchase
agreements or any other necessary documents and agreements in
connection with such bonds, such documents and/or agreements
shall be sub3ect to authorization by ordinance of the City pur-
suant to law
Section 4 All orders , bylaws and resolutions, or
parts thereof, in conflict with this resolution are hereby
repealed This repealer shall not be construed to revive any
order, bylaw or resolution, or part thereof, heretofore repealed
Section 5 If any section, paragraph, clause or pro-
vision of this resolution shall for any reason be held to be
invalid or unenforceable, the invalidity or unenforceability
of such section, paragraph, clause or provision shall not
affect any of the remaining provisions of this resolution
Section 6 This resolution shall take effect immediately
upon its introduction and passage
INTRODUCED, READ, PASSEP AND ADOPTED THIS March 31 ,
1981 n
Pl-/
/
ayor
q 21
[SEAL]
Attest
City Clerk
A