HomeMy WebLinkAboutReso. 1987 - 301 - Supporting industrial developemtn financing for proposed kms research laboratories project 411 410
RESOLUTION NO. g, _d(
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
SUPPORTING INDUSTRIAL DEVELOPMENT FINANCING FOR THE PROPOSED
KMS RESEARCH LABORATORIES PROJECT IN THE CITY OF REDDING.
WHEREAS, KMS Research Laboratories, Inc . wishes to acquire
16 acres of land, construct a 102 ,000 square-foot building, and
purchase machinery and equipment for a hair-caret products
manufacturing plant; and
WHEREAS, the proposed facility is to be located at 4682 Mt.
Lakes Blvd. in the Mt. Lakes Industrial Park; and
WHEREAS, the development will require the investment of
$7 ,049 ,000 . 00 in plant and equipment, create approximately 60
jobs for Redding area residents , and generate substntial tax
revenues; and
WHEREAS , KMS wishes to obtain Industrial Development Bond
Financing for the project in order to make the investment
economically feasible; and
WHEREAS , the approval of such financing requires an
allocation of bond authority from the California Debt Limit
Allocation Committee; and
WHEREAS, Shasta County is in a position to obtain bond
allocation in the amount of $6 ,500 , 000 . 00 ;
NOW, THEREFORE, IT IS HEREBY RESOLVED that the Redding City
Council supports the KMS Research Laboratories, Inc. application +D
to the Shasta County Industrial Development Authority for
411 410
$6 ,500 ,000 . 00 in Industrial Development Bond Financing, and
requests that the Shasta County Board of Supervisors concur in
the Authority' s approval and seek the required amount of bond
authority from the California Debt Limit Allocation Committee.
I HEREBY CERTIFY that the foregoing Resolution was intro-
adjourned
duced and read at a regular/ meeting of the City Council of the
City of Redding on the 29th day of September , 1987 , and was duly
adopted at said meeting by the following vote:
AYES : COUNCIL MEMBERS: Carter, Gard, Johannessen, Dahl
NOES : COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS : Fulton
ABSTAIN: COUNCIL MEMBERS: None
MIKE DAHL, Mayor
City of Redding
ATTEST:
ETHEL A. NICHOLS , City Clerk
FORM APPROVED:
24-? ‘"-e7 :
DALL A. HAYS, Cit Attorney
-2-