2007-0160
INTRODUCED BY: APRIL BLACK, COUNCILMAN, DISTRICT V
RESOLUTION NO.
A resolution authorizing the Parish President and the Council Secretary of the Parish of St. Charles, State of Louisiana, to execute a preliminary agreement with Prager Incorporated granting its preliminary approval with respect to the financing of certain industrial facilities; authorizing the publication of a Notice of Public Hearing; and providing for other matters in connection with the foregoing.
WHEREAS, it is the desire of the Parish of Charles, State of Louisiana (the "Parish"), to encourage the location of and addition to industrial enterprises within its jurisdiction under the authority of Sections 991 to 1001, inclusive, of Title 39 of the Louisiana Revised Statutes of 1950, as amended (the "Act"), and other constitutional and statutory authority supplemental thereto; and,
WHEREAS, Prager Incorporated, a Louisiana corporation (the "Company"), proposes to finance the acquisition, construction and installation of an industrial facility consisting of a manufacturing and aftermarket industrial machine repair facility, constituting nonresidential real property to be located in the geographical limits of St. Charles Parish in the Gulf Opportunity Zone as provided in the Gulf Opportunity Zone Act of 2005 (the "Project"), as described in Exhibit A attached to the Preliminary Agreement identified as Supplement I hereto, and has requested that the Parish utilize the aforesaid authority and grant preliminary approval with respect to the financing of the Project through the issuance of its revenue bonds (the "Bonds") in the manner hereinafter provided; and,
WHEREAS, this Parish Council has concluded that the acquisition, construction and installation of the Project will benefit the welfare and economy of the Parish and that it is in the public interest to encourage the construction of the Project; and,
WHEREAS, prior to the issuance of the Bonds, the Company, directly or through a ...
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