2007-0197
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(DEPARTMENT OF ECONOMIC DEVELOPMENT & TOURISM)
RESOLUTION NO. ____________
Title
A resolution authorizing the Parish President of the Parish of St. Charles, State of Louisiana, to execute a preliminary agreement between said Parish and Valero Energy Corporation; authorizing the issuance of revenue bonds in one or more series to finance certain facilities and providing for other matters in connection with the foregoing.
Body
WHEREAS, under the authority of Sections 991 through 1001, inclusive of Title 39 of the Louisiana Revised Statutes of 1950, as amended (collectively, the "Act"), and other constitutional and statutory authority supplemental thereto, in order to encourage the location of or addition to industrial enterprises therein or adjoining thereto, the Parish of St. Charles, State of Louisiana (the "Parish"), is authorized to issue revenue bonds and use the funds derived from the sale of such bonds to acquire, purchase, lease, rent, construct, or improve industrial plant sites and industrial plant buildings, and necessary property and appurtenances thereto; and,
WHEREAS, Valero Energy Corporation, a Delaware corporation, or related entity (the "Company"), proposes to finance the acquisition, construction and installation of the expansion of its existing refinery located in the Parish (the "Project"), if the Parish will utilize the aforesaid authority in the manner hereinafter provided; and,
WHEREAS, this Parish Council has concluded that the aforesaid project meets the criteria and guidelines established by the Parish Council, that the acquisition, construction and installation of said project will benefit the welfare and economy of the citizens of the Parish and that it is in the public interest of said citizens to encourage the acquisition, construction and installation of said facilities; and,
WHEREAS, it is the desire of the Parish to meet the criteria of the State Bond Commissi...
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