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Legislation #: 051543 Introduction Date: 12/15/2005
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER EDDY
Title: Expressing the Council’s interest in issuing revenue bonds in an amount not to exceed $55 million for the purpose of purchasing a facility and equipment for Early Development And Packaging Services U.S.A., LLC and reusing the Quintiles facility located at 10245 Hickman Mills Drive; and directing the City Manager to negotiate a plan to accomplish the project.

Legislation History
DateMinutesDescription
12/15/2005 Filed by the Clerk's office
12/15/2005 Councilmember Eddy Move to Adopt
12/15/2005 Adopted

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RESOLUTION NO. 051543

 

Expressing the Councils interest in issuing revenue bonds in an amount not to exceed $55 million for the purpose of purchasing a facility and equipment for Early Development And Packaging Services U.S.A., LLC and reusing the Quintiles facility located at 10245 Hickman Mills Drive; and directing the City Manager to negotiate a plan to accomplish the project.

 

WHEREAS, the City of Kansas City is authorized and empowered under Sections 100.010 through 100.200, RSMo, to issue revenue bonds for the purpose of carrying out a project for industrial development; and

 

WHEREAS, the City of Kansas City has engaged the Economic Development Corporation of Kansas City, Missouri (EDC) to assist in the marketing, attraction, retention and expansion of existing business, and to attract new businesses to Kansas City, Missouri; and

 

WHEREAS, the attraction of this company to Kansas City, Missouri will result in the retention of approximately 1200 jobs; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That, pursuant to the authority granted under Sections 100.010 through 100.200, RSMo, in the event that the Council approves the plan submitted by Early Development And Packaging Services U.S.A., LLC, the City hereby expresses its interest in considering the issuance of revenue bonds in an amount not to exceed $55,000,000.00 for the purpose of financing the cost of purchasing, improving and equipping the facility located at 10245 Hickman Mills Drive.

 

Section 2. That the issuance of the bonds, if approved by the City, to finance the costs of the proposed project is in furtherance of the public purposes set forth in the laws of Missouri and the Facility will promote the welfare of the City and its inhabitants.

 

Section 3. That it is the intent of the Council to issue the bonds within the first six months of 2006, subject to the negotiation of a Chapter 100 plan.

 

Section 4. That the Council directs the City Manager to negotiate a Chapter 100 plan for Early Development And Packaging Services U.S.A., LLC, Project and to subsequently present said plan to the Council for review.

 

Section 5. That the City Attorney, Director of City Development and Director of Finance are authorized and directed to negotiate with the appropriate officials of Early Development And Packaging Services U.S.A., LLC, and in consultation with Economic Development Corporation, to prepare the necessary documents for the issuance of the bonds, the purchase of the Facility and equipment, and any other documents, for final presentation to and approval by the Council.

 

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