RESOLUTION NO. 040205

Expressing the Council's interest in issuing Chapter 100 bonds in an amount not to exceed $8,500,000.00 for the purpose of carrying out an industrial development project including the construction and equipping of a regional warehouse and distribution facility for Medline Industries, Inc., and directing the City Manager to work with the Economic Development Corporation 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, in order to retain jobs in Kansas City, Medline Industries, Inc., has expressed interest in submitting a plan for a project in which the Council would issue and sell industrial revenue bonds and use the proceeds to construct and equip a warehouse and distribution facility (the Facility); 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 Medline Industries, Inc., the City hereby expresses its interest in considering the issuance of revenue bonds in an amount not to exceed $8,500,000.00 for the purpose of financing the cost of purchasing equipment and constructing a regional warehouse and distribution facility at the northeast corner of Universal Avenue and Commerce Avenue.

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 the Council directs the City Manager to negotiate a Chapter 100 Plan for this project, and to subsequently present said plan to the Council for review.

Section 4. That the Director of City Development, Director of Finance and City Attorney are authorized and directed to negotiate with the appropriate officials of this company, and in consultation with Economic Development Corporation, to prepare the necessary documents for the issuance of the bonds, the construction of the Facility and purchasing of the equipment, and any other documents, for final presentation to and approval by the Council.

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