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Legislation #: 961484 Introduction Date: 11/14/1996
Type: Resolution Effective Date: 11/14/1996
Sponsor: COUNCILMEMBER SWOPE
Title: Approving an industrial development project for Harley-Davidson Motor Company in Kansas City, Missouri.

Legislation History
DateMinutesDescription
11/14/1996

Passed

11/14/1996

Adopted


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RESOLUTION NO. 961480

 

Approving an industrial development project for Harley-Davidson Motor Company in Kansas City, Missouri.

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City of Kansas City, Missouri ("City") hereby authorizes and approves the following plan for industrial development in accordance with Section 100.050 of the Missouri Revised Statutes, as amended, including but not limited to:

 

(a) Acquisition of approximately 320 acres of land and construction thereon of

an approximately 300,000 motorcycle manufacturing facility in the City of Kansas City, Missouri at the Northeast corner of Northwest 112th Street and North Congress;

 

(b) A total estimated project cost of $89,000,000.00;

 

(c) The project will be funded in part from (1) proceeds of the sale of

approximately $82,000,000.00 maximum principal amount of Taxable Industrial Revenue Bonds (Harley-Davidson Motor Company Project) Series 1996A to be issued by the City, (2) proceeds of the sale of approximately $4,100,000.00 Taxable Industrial Revenue Bonds (Harley-Davidson Motor Company Project) Series 1996B to be issued by the City, (3) a loan and a grant from the Missouri Development Finance Board, and (5) funds of Harley-Davidson Motor Company, a Wisconsin corporation ("Company"); and

 

(d) The project will be leased to the Company by the City in accordance with the

terms of the Lease for a term ending on December 1, 2011 and the Company will have the option to purchase the project at the termination of the lease.

 

Section 2. That the Director of Finance and the other officers and representatives of the City are hereby authorized and directed to take such other action as may be necessary to carry out the public sale of said Bonds.

 

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