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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
<br />UNIVERSITY CITY, MISSOURI APPROVING A PROJECT FOR
<br />WINCO REDEVELOPMENT CORPORATION, INC., A
<br />MISSOURI CORPORATION, AND DETERMINING THE
<br />OFFICIAL INTENT OF THE CITY TO ISSUE ITS REVENUE
<br />BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED
<br />$6,000,000 TO FINANCE THE COSTS OF SUCH PROJECT.
<br />
<br /> WHEREAS, the City of University City, Missouri (the "City") is authorized and empowered
<br />under the provisions of Sections 100.010 to 100.200 of the Missouri Revised Statutes (the "Act") to
<br />purchase, construct, extend and improve certain projects (as defined in the Act) for the purposes set forth
<br />in the Act and to issue revenue bonds for the purpose of providing funds to pay the costs of such projects
<br />and to lease or sell such projects to others upon such terms and conditions as the City shall deem
<br />advisable; and
<br />
<br /> WHEREAS, Winco Redevelopment Corporation, Inc., a Missouri corporation (the "Borrower"),
<br />has submitted an application to the City and has requested that the City (i)approve a project for the
<br />Borrower consisting of acquiring, constructing and equipping new manufacturing facilities at 6315 Maple
<br />Avenue, University City, Missouri, including buildings, fixtures, equipment and machinery in connection
<br />therewith (the "Project"), (ii) issue its revenue bonds in a principal amount not to exceed $6,000,000 to
<br />provide funds to pay the costs of the Project, and (iii) lease or sell the Project to the Borrower for the
<br />purpose of financing the costs of the Project, all in accordance with and pursuant to the Act; and
<br />
<br /> WHEREAS, the City desires to finance the costs of purchasing, constructing and equipping the
<br />Project by the issuance of its revenue bonds under the Act in a principal amount not to exceed $6,000,000
<br />(the "Bonds"), said Bonds to be payable solely out of payments, revenues and receipts derived by the City
<br />from the lease or sale of the Project to the Borrower; and
<br />
<br /> WHEREAS, the City and the Borrower desire that the purchase, construction and equipping of
<br />the Project commence as soon as practicable;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
<br />UNIVERSITY CITY, MISSOURI AS FOLLOWS:
<br />
<br /> Section 1. Findings and Determinations. The City hereby finds and determines that the
<br />Project will promote the economic welfare and the development of the City, and the issuance of the
<br />Bonds by the City to pay the costs of the Project will be in furtherance of the public purposes set forth in
<br />the Act.
<br />
<br /> Section 2. Approval of Project and Declaration of Official Intent. The City hereby
<br />approves the Project and determines and declares the official intent of the City to finance the costs of the
<br />Project out of the proceeds of the Bonds of the City to be issued pursuant to the Act in a principal amount
<br />not to exceed $6,000,000. This Resolution shall evidence the City's official intent, subject to the terms
<br />hereof, to issue the Bonds pursuant to the Act in amounts prescribed by the Borrower up to $6,000,000
<br />and to make available the proceeds thereof to purchase, construct and equip the Project and to pay all
<br />expenses and costs of the City in connection with the issuance of the Bonds.
<br />
<br /> Section 3. Terms and Provisions. Subject to the conditions of this Resolution, the City
<br />shall (i) enter into a trust indenture with a bank or trust company, as corporate trustee, pursuant to which
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