1983 Resolutions - Laserfiche WebLink

Home Browse Search

A RESOLUTION AUTHORIZING THE PORTSMOUTH INDUSTRIAL DEVELOPMENT AUTHORITY (IDA) AND THE PORTSMOUTH PORT AND INDUSTRIAL COM~kISSION (PPIC) TO ADVERTiSEAND HOLD PUBLIC HEARINGS RELATI\~ TO THE ISSUANCE O? INDUSTRIAL DEVELOPMENT BONDS. ~ERF~AS, recent changes in the statutory authority for the issuance of industrial Development Bonds have imposed re- quirements that all Industrial Development Bonds issued after December 31__- 1982 be approved after public hearings 'and after an affir~.~..ative vote of the elected legislative ~-~ . ~. body of the City; and ~A~ ~ne enabling legmstatmon of the Portsmouth Industrial Development Authority (iDA) and ~he Portsmouth Port ~n~. Industrial Co~msslon [PPZC) authorize these agencies ' ~e~ Developmen% Bonds- and WHER~S, the availability of Industrial Development Bonds to ass~ st in financing industrial development ~ithin the City is a key element to the City's indus%rial development effort; and ~n~EA~'~ ~. %he IDA and the PPIC have requested that %he City Council establish a procedur~ designating Chose agencies as authorized agencies to advertise and conduct the required public hearings relative to the issuance of Indus%rial Development Bonds; and ~ ~ W~EF~S~ the iDA or the PPIC, as appropriate, would p~lish %he required notice prior to %he public hearing, conduct such public hearing, and for those financing arrangements approved would fc~zard ~esolutions reco~uending approval %o the City Co~ncit for Chei~ consideration; and · ~ ~ b ' ' * ' the actual vote y the Co~mmssmon or Au_hormty on ea~ch ~/~_.request ~approv~d~ and-provide a cert r~s'6!ution requmrmng a~t~on~ by. Ci~y:'Co~cil ~o questions ~n an3 WHEREAS, in so doing, the IDA and the PPIC will provide certification by their legal counsel that all hearing requirements were conducted according to the applicable Federal and State law, indicate those Com~mzssmoners present for the meeting and state