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<br />January 13, 2009
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<br />On a motion by Gene Teague, seconded by Mark Stroud, with the following
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<br />4-1 recorded vote: Mrs. Lawson, aye; Mr. Reynolds, aye; Mr. Stroud, aye; Mr.
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<br />Teague, aye; and Mr. Turner, nay, Council adopted the following resolution
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<br />authorizing the execution of an agreement providing for the obligations to the
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<br />City, to consider Phase II appropriations to the Industrial Development Authority
<br />(IDA) of Henry County and Henry County for financing of a shell building:
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<br />HFSOLl'TION ..\.L'TIIOIHZIr-..'(; TIIF EXECl1no:" OF ,.\- BANh: Ql::\LII:({ ATIOf',;
<br />ALLO( 'AT.Of'\; i\(~I{EE!\lENT \'VITII HI'~(~AJ{J) TO Till< FINAN( 'IN(~ OF A SIIELL
<br />BlllI~I)ING FOR F.CONOJ"\ll( nFVFI.CU-r\lFN'J PUH.POSES ATTIIF l'ATJ{Hy)
<br />('ENTER INIH,ISTH:IAL PARk
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<br />\\'IIEHF..\.S, the ('it". ('OLlIl~'ll (llle "( 'it\ 1.. 'nUllcil ') (lltht.-' ( llV 01' t\1:tl"11l1:-,\dk, V1!I~lJll.1
<br />(11l1' "'('ilY''') pl,'\'i"\Jsly ;t!:-'n,,~'d t<! ;ls"I,,1 1[~:llJ\. ('''lllll~'', \"Irgull;\ ("llelll\ ('''uld'-'') .111.1 liJ,-
<br />Illdll';tl'i;d 1),-~\-cl"I'l\lC'1l1 Authority "j 11'-'111\ ("'llllty. Vngilli,\ (the' -IICIlI\ ('PlIllt\ [l)I\"~ III
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<br />l-OIlSllIICIIOII dlld ....qlllPIl111g (\1" sl l<._'1 1 hu i1d II I).', (>ll 1,,[ 10 I"Cdll'd jll !IH' ]'dllin[ 1,',,1,'\ In<ilhlli.d
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<br />'VIIEI{E.'\.S, pursuant \1] tlt;lt <':'-..:lldlll !Z.'" <':1 I LL',: Slldlillg /\~~,n"'IIl<']\l ,lat,',l ".... "i '\11l']1 ~(I
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<br />At~Jt,J'lI]"'llt"), ,Il<' 1';lltil..... It",-" :1t'.I",,'d. ;IIIlO!1!' oll1el ,l1lllg.., tl1a' \\-hell i1 hl1SlIle..;~ 1<.>L'dle:, "II tlllL ,>[
<br />Illl~ d~'.';i".IL\IL'd '"IL','. "11 Ihe PnlpcI1\'. Ilelll" ('''tlnt'.' \\11] p;IY to the ('Ilv. PII;I :;1I!>1'"I h,
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<br />Ill<lChillC"l"V :llld In"ls, :Llld C(lll'>Ulll,--T ulJ1llv 1;\'1(<-'''; Lol]L.cl....d 11,--'llIY ('''11111" rl"11t Ill(
<br />10,'d!,d "JI ,";\lL'h ',It, ;l!1\.'1 II..clLl \ ('''\llll',- 1'-, ICllllhUI.,;\..d l{ll llllld::tltlL'llllC ,-:".',t~; 111 ..'.\.c-, '.'. "j VIdlll
<br />funds ~lIhl all....r r'_'pa....IlI....1l1 \lr;1I1~V ('dSI1 i\-I"':llli\T'i llLll II):!)-' he paid 11-" Ih.... ('(Hjlll\~
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<br />\\/III<KEAS. till..:: I'l")'--'L:t \\L11 he 111l;Uh-L-d 111l"LJ~1l the !..'....U,lIll.."L. hy tile II<-']Ilv ("lllll!\ 11),\
<br />01 Its ledsc H_<-' "',--'II u..' Bllllds (lien!"\-' ('OUllt.... Slwl] Buildilll'. PIOI,--,,--.t), ill Ill<' d)'.l',I"-"dl,' prin, ill,1i
<br />;IILH'Ulll ,,[ 'h ~,"()(J,()(j(J "'ll',lstlll/', ", thL' 'J.;I ,"'()(l,(Hl(j le:ls,--' I~C\-""IlU<-' I~"lld, S('l >()flX (If!,
<br />"Scri,'c-. :l(JOX 1'-<>11<1") '11;11 "'-':1S Iss\Jed on ])C(l:lllh,-T lS,_!{)()X ,!llll thc 111..::111\ ('(lUllt\' 11.)..\
<br />$::?OOO.()()() I....:l'.l~ H....."'....ll11C Bond. S'--TH:S 2()(l'l 1<) 1)<-' LSSll\.:d 111 Jal\(),II" l(i()I)(tlw' ;";<."1 il'''; '(f()'I
<br />Hpnd'"j (th...: Serle:... _~()()X H<>lld and the SLTI<-"; ~>I)l)" HOlld shall Cl,]]CC11\,--~h.' he lelell',--:d 10 d~. tile
<br />'"Bond,,"):
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<br />\,\'IIFR.F/\S.1 Hilll~ ()lIdliri,';llhlll ,'\ll'),dll"ll .'\I'_reVI11Clll \\1111 n'~,p<-',---, (" !il,--' :---~C!ll' '(/11;'
<br />1'),ln.1 ILI~; pn~"'1<ll1'-.I\' 11CCll ~IPflj('\'....d h,,' (-11", ('''LI[I<-'i1~
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<br />,\' III':H.I-:..\.S, III... ('iIY ('''llll< il ]\,1', J'I'" i,'ll....!... ""[11 .'"..,'d II'; 111l<'llll<>l) I.' d(""';II']I;lh ;1]1
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<br />1-,";llc:d 111 :'Ol)<l
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<br />\\-'IIFHI'?\S. ,I H,lJlk ()II,1I11-\( .111<>11,\11". .111<1I1 ,-\!'f(',:Ill<'lll \\'Ith I,_'sp(',-I [n 'II,' ~'I"l'I" '(JO"
<br />BUild i,; h<':ICh\ j>lL',Clltcd t" IILI..:: ('ll\' Cl'UIl,--:i1 1"1 ..'"II:-;ldeldlJ(1I1
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<br />1'.'0 \\-' , l'IIFH:fo'HJlH<, In: IT HFS()I,\....u BY IIII<' ('IT\" ('OI'N('11 01'" 1111.
<br />CIT\' OF 1\'IAU:TINSVII.I.I', \'IRel"""'I.-\.'
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<br />II I' dctCl111111cd Ie) bc 111 tbc bcst 1I11Clcsls oj the Lltv Jnu lis utl/cns i,'r th,' Clt\
<br />(\.Hlm'lI t(l enkr illl(\ :j aallk (ju;t1J!lcat]())) :\!I\lGlliOll r\greclllclll wilh n:~pel..'l In '~hc Sl'rIl'S 2Il()l)
<br />BL\nd III C()[lIlCdIUIl \\'Ith lilt.: Pwjecl
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<br />I 'ill' (It\- CUUlh':ll hereb\ ((1IlSl"llh hl the l'\l'CutioJl and dL'livn~ (d till' jLlIl~
<br />()ualilll~alioll Alh)ClIlll;n :\gn:crnenl \vj'lh respect tn the Series 20U() Buml and authurr/.l's and
<br />dlln'[\ ('llhcI thl' \LtYtll \'llT-\byo[ \ll thl' \ 'It\ \Llllagl'lln c\eculc such d\lClllllellt (lll hellal! llj
<br />the Clt\
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<br />rhl' Cit\' (lckl1()\\il'dges dlld agrees 111:1t JIl,dll\l'lltiullln the City llf JppJ'OximJk'h
<br />3JII,'u ()fthl' principal J11luunt nfthc SCflCS ~(}\JlJ Blind lilr purposes llfScctinn 26)(,h)(~)IC)(lil) (i1
<br />the IJ]tcmil! RC\\."IlUC ('ll(k (If I (JX6, ,tc.; ,1llH.::nded (the "C(lck") represcnts a reasollahle JllocatlllJ1
<br />bearing:1 reasonahle rclatlOllship to the bcncflts tll he rcccivl'd hy till..' Cily from the ISSllarlCC (1I
<br />the Scril'S ~()()l) Bond III CUlllllTllllll \\ lth thL: IlnallL.:illg Dr the ]lrn.ll'd rhe ('ily helCh)
<br />dcsl\'.n:l1L:.., It., rCiL'i(lILlhlr ;1I11IC:!l1\111 (lj" till' ~h':h.:rlh hI Ill" I"l'I..'CiVl'd [)-om thl' 1:;:;II:llll',.' \)lll1l' SCI']l'.\
<br />~O(}l) Hond, :IS "qU:lllticd t;r\-c\cmpt nhli!;:lIil\nS" Inr the purpns(~ nf 'lCC1IUI1 .2h:"(h!t1lllf till
<br />('(lJC !he Clt\ !,tul!.ethcr \\'lth \h suholdll1:lk l'!llllll'S) docs lwl rC;I.'i\!llably :ill!.I\.lj'dk J:;:--iUIIl.'--'
<br />mure th:tJl S! ().(){)(J.O()() ill hunds, [wtcs, Il'cISC'; (Ir (l(l1n (lhllgatl(l!l.'i or I Ill' Cily (l:.\rll1dill~' pri\i!i:.'
<br />:IClj\ll~ bUl1ds \\hlcl1 ~ln: nut ljultlitlnl 50l(~:)(_-;1 bumb under Sl:ctillI: ],+5 u1' lh: tCldl') durrn;..;
<br />calclld:lI \Cdl ~1,()()9, dlld Ihr CJ!~ (l(l~LllILT \\ dh Jls subllnllllu\c clllitic;';;1 ha:-, Ill)! ;md ,,\ III 1}(1:
<br />dCSIgll:llc llH1rc than S) IJ,O(l(),U()(j or qu,liifjt'd t:l.\-C\l'l11pl l)bligall(lll~ pursu:ml ill SCc!lllll
<br />~(r)\b)(_\1 (',(Ihl' Cudc JUring such l'Jk:I1Jal -'Cdl I'lll: (']1\ iv'L.lJ\:l)!cr JIlJ /\ssi,'\tJI11 ('lly \l.Uld,SCI
<br />die ril\.'11 hl'll'h\ dulh(ll'l/l'd ilfld dlITCkd Itl \.'\CClI(l' and dl'lihT il hdl1k-l]u:tlllll'iilll"!l iilJlll(lll(i1l
<br />:lgJel'!1lCll1 ';:ll1l1:i1' :tgrccIllCllllll'ccssaJ')' Iu further dleclu:llc the luregn111tL
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<br />1111:' n:scdut](ll1 shali take Cnlxl1J1lI11l'dlalel\
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