RESOLUTION NO. 050121
Approving
a project of the Industrial Development Authority of the County of Jackson, State of Missouri (Linda Hall Library Expansion Project), to be located within the
limits of the City of Kansas City, Missouri
WHEREAS, pursuant to
the authority of the Industrial Development Corporations Act, Chapter 349 of
the Missouri Revised Statutes, as amended (the Act), The Industrial
Development Authority of the County of Jackson, State of Missouri (the
Authority), by Resolution adopted by its Board of Directors on December 23,
2004, has approved a project for the Linda Hall Library Trusts, two separate
trusts established by the wills of Herbert F. and Linda S. Hall (collectively
the borrower), which Project is to be located in Kansas City, Missouri, and
consisting of the expansions and renovations to the Linda Hall Library of
Science, Engineering and Technology located at 5109 Cherry Street and is to be
financed by the issuance by the Authority of revenue bonds under the Act in a
principal amount of approximately $20,000,000.00; and
WHEREAS, Section
349.010 of the Act provides that projects of a county industrial development
authority may be located within the incorporated limits of a municipality when
approved by the governing body of the municipality; NOW THEREFORE,
BE IT RESOLVED BY
THE COUNCIL OF KANSAS CITY;
That the Council
hereby approves of the financing by the authority of the Project located in the
City of Kansas City, Missouri. This approval does not impose any liability on
the City of Kansas City, Missouri, or in any way involve the City in the
issuance of said Bonds or the acquisition, construction, improvement, equipping
and furnishing of the proposed Project but is an accommodation by City, to
satisfy the requirements of Chapter 349.010 of the Act.
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