Resolution 0965875916 JHHW:CFA:nct 12/22/81
RESOLUTION NO. 9658
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA
AUTHORIZING THE ISSUANCE OF BONDS FOR THE PURPOSE OF FINANCING
CONSTRUCTION OF ELECTRONICS MANUFACTURING FACILITIES TO BE USED BY
DIGITAL MICROSYSTEMS, INC.
WHEREAS, the City Council of the City of Alameda (the "City ") has
heretofore adopted its Ordinance No. 2057 (the "Ordinance ") authorizing the
City to issue and sell its bonds pursuant to the City Charter for the purpose
of providing financing for the acquisition, construction and improvement of
commercial and industrial projects located within the City; and
WHEREAS, Digital Microsystems, Inc. (the "Company") has requested the
City to issue and sell its revenue bonds for the purpose of financing certain
manufacturing and related facilities to be used by the Company within the City
and the City Council wishes to induce the construction and development of said
manufacturing and related facilities in the City; and
WHEREAS, it is in the public interest, for the public benefit and in
furtherance of the public purposes of the City that the City Council authorize
bonds for the aforesaid purposes;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ALAMEDA AS FOLLOWS:
1. The City Council hereby authorizes the issuance and sale of bonds of
the City pursuant to the City Charter and the procedures specified in the
Ordinance in a principal amount of not to exceed Four Million Dollars
($4,000,000) for the purpose of providing permanent and /or construction
financing for the acquisition, construction, remodelling, equipping and
improvement of land and electronics manufacturing facilities, offices and
related and appurtenant structures, facilities and equipment to be used by the
Company and to be located in the City approximately as shown in Exhibit A
hereto. Such authorization shall be for the purpose of inducing the Company,
or any other owner of such project (including without limitation John and
Patricia Tarode and Extel Overseas Ltd.), to undertake to acquire, construct,
remodel, equip and develop such project and, in particular, to do so at such
location.
2. The issuance and sale of said bonds shall be upon such terms and
conditions as may be mutually agreed upon by the City, the Company and the
purchaser of said bonds and shall be authorized by resolution of the City
Council at a meeting duly held and conducted for such purpose. Under no
circumstances shall the City be liable to repay said bonds from any source of
City funds other than the revenues derived from the project to be financed.
3. The proceeds of the bonds shall include such related and necessary
issuance expenses, administrative costs, debt service reserves and interest
payments as may be required to accomplish successfully the financing.
4. This resolution shall take effect immediately upon its passage and
adoption.
PASSED AND ADOPTED this 29th day of December, 1981, by the following
called vote:
AYES: Councilmen Sherratt, Stone, and President Corica - 3.
NOTES: (NOES) None.
ABSENT: Councilmen Diament and Gorman - 2.
Attest:
Mayor
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461 BUSH ST
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