Res 91-087
RESOLUTION NO.
91-87
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF FEDERAL WAY, WASHINGTON, APPROVING THE
PROPOSAL OF THE KING COUNTY ECONOMIC
ENTERPRISE CORPORATION TO FINANCE CERTAIN
INDUSTRIAL DEVELOPMENT FACILITIES TO BE
LOCATED IN THE CITY OF FEDERAL WAY.
WHEREAS, the King County Economic Enterprise Corporation,
at
the
request
of
Orion
Industries,
a
Washington
non-profit
corporation
(the "Company"),
is proposing to issue nonrecourse
industrial development revenue bonds not to exceed $1,500,000 to
finance the cost of acquiring, constructing and installing certain
industrial development facilities consisting of an approximately
34,480 square foot sheet-metal product manufacturing facility,
including directly related and ancillary assembly,
storage and
office space (the "Project"), for the Company, which project has
been substantially completed and is located at 33926 9th Avenue
South in the city of Federal Way, Washington (the "city"); and
WHEREAS, chapter 39.84 RCW requires that,
in order to
issue
nonrecourse
industrial
development
revenue
bonds,
such
proposal must be approved by the city since the City exercises
planning
jurisdiction over the
area
in which the
Project
is
located; and
WHEREAS, the city Council of the city of Federal Way
finds that City planning requirements for the Project have been
substantially completed and are expected to meet all Federal Way
code requirements prior to issuance of a certificate of occupancy
and that the financing of the Project should be approved under RCW
39.84.060; NOW, THEREFORE,
COpy
THE CITY COUNCIL OF THE CITY OF FEDERAL WAY HEREBY
RESOLVES AS FOLLOWS:
section 1.
The financing of the Project so proposed
by the King County Economic Enterprise Corporation is hereby
approved by the City to the extent of the requirements of chapter
39.84 RCW.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON, this ~ day of
November
, 1991.
CITY OF FEDERAL WAY
@~ Jtß / e~
MAYOR, DEBRA ER L
D AS TO FORM:
FILED WITH THE CITY CLERK: November 13, 1991
PASSED BY THE CITY COUNCIL: November 19, 1991
RESOLUTION NO. 91-87
91L2141
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