GIDA Resolution 83-8RESOLUTION NO. 83-8
A RESOLUTION AMENDING RESOLUTION NO. 83-5
ENTITLED, "A RESOLUTION MAKING DETERMINATIONS
WITH RESPECT TO THE FINANCING OF FACILITIES FOR
GILROY CANNING COMPANY, INC. AND EXPRESSING
INTENTION TO UNDERTAKE SUCH FINANCING PROJECT"
RESOLVED, by the Board of Directors of the Industrial
Development Authority of the City of Gilro¥, California, that
Resolution No. 83-5 entitled "A Resolution Makinq Determinations
with Respect to the Financing of Facilities for Gilroy Canning
Company, Inc. and ExDressinq Intention to Undertake such Financing
Project', adopted by this Board on November 7, 1983, be, and the
same is hereby, amended as follows:
1. That the letter agreement referenced in Section 6 of
said resolution be amended as set forth in the modification set
forth in Exhibit "A' hereto attached and by reference incorporated
herein.
approved.
The letter aqreement, as so modified, is hereby
* * * *
Introduced at the meeting of the Industrial Development
Authority of the City of Gilroy held on the 5th day of December,
1983, by Director Gaqe who moved its adoption and Dassa~e, which
motion was carried after being duly seconded, and passed by the
following vote:
AYES: Directors:
Albert, Ga~e, Kloecker, Mussallem,
Pate, Valdez & Huqhan
NOES: Directors: None
ABSENT: Directors: None
SECONDED: Director: Albert
ATTEST
IDA0011A.GIL/1
APPROVED:
Chairman
01/31/84
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GILRQY
7351 Rosanna Street
P.O. Box 66
Gil£oy, California 95020
(Date)
Gilroy Canning Company, Inc.
P.O. Box 395
Gilroy, California 95020
Dear Sirs:
The purpose of this letter is to set forth a modification of the
letter agreement between us dated , 1983, with reference to
the terms and conditions upon which the Industrial Development Authority
of the City of Gilroy (the "Authority') will issue its revenue bonds to
assist you in the financing of a tomato wanning plant.
In return for your agreement to pay to the Authority a fee of
one-halE of one percent (1/2 of 1%) of the principal amount of revenue
bonds issued, payable from the Costs of Issuance Fund to be established
under the Indenture securing such bonds, the Authority agrees to pay the
fees and disbursements oE the Special Counsel and the Financial
Consultant to the Authority, any direct or indirect expenses of th~
officers, employees or agents in connection with issuance of the bonds
and publication costs oE the Authority in connection with authorization
of.the bonds.
By signing and returning the enclosed copy of this letter
hereby agree to the modification hereby expressed, and agree that
Authority, by filing a copy of the-letter agreement of .,
1983, and of: this modification, certified by the secretary of the
Autho=lty, with the Trustee under tlae Indentu~e~ shall, 'immediately upon
th~ s~e ~d del~ve~ of ~e ~nds, ~ entltle~ to pa~ent o~ said
;',f~,:=e~lsttio~ t~' necessa=y, that Fo= ~11 t~ediatel~ p=ovide an~ tll~
If the foregoing is satisfactory, kindly execute the enclosed
copy of this letter and return it to the Authority, Attention Secoretary,
in which case it will constitute a modification of the letter agreement
between us effective as of the date of such letter agreement.
Very truly yours,
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GILROY
CONFIRMED AND ACCEPTED:
GILROY CANNING COMPANY, INC.
By:
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