RESOLUTION NO. 010606

Approving a project of the Industrial Development Authority of the County of Jackson, State of Missouri (Avila College Project), to be located in 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 April 25, 2001, has approved a Project for Avila College, a Missouri nonprofit pro forma decree corporation (the Borrower), which Project is to be located in Kansas City, Missouri, and consisting of the acquisition, construction, improvement, equipping and furnishing of facilities at the Borrowers campus at 11901 Wornall Road, to be financed by the issuance by the Authority of revenue bonds under the Act in a principal amount not to exceed $4,200,000.00; 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 said 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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