title
AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF A SERIES OF INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR THE PURPOSE OF PROVIDING FINANCING FOR INDUSTRIAL FACILITIES; AUTHORIZING AND APPROVING (1) A SUPPLEMENTAL TRUST INDENTURE SECURING THE BONDS, (2) A SUPPLEMENTAL LEASE AGREEMENT BETWEEN THE CITY OF JONESBORO, ARKANSAS AND UNILEVER MANUFACTURING (US), INC. (AS SUCCESSOR TO AND ASSIGNEE OF ALBERTO-CULVER USA, INC.), AS LESSEE, (3) PRIVATE PLACEMENT MEMORANDUM, AND (4) A PRIVATE PLACEMENT AGREEMENT; AND AUTHORIZING AND PRESCRIBING OTHER MATTERS PERTAINING THERETO.
body
WHEREAS, the City of Jonesboro, Arkansas (the "City"), is authorized' by Arkansas Code Annotated Sections 14-164-201, et seq. (1998 Rep!., Supp. 2011) (the "Act") to issue revenue bonds and to expend the proceeds thereof to 'finance the acquisition, construction, and equipping of lands, buildings or facilities, which can be used in securing or developing industry; and
WHEREAS, Alberto-Culver USA, Inc. ("Alberto-Culver") previously proposed that the City provide it with permanent financing through the issuance of its City of Jonesboro, Arkansas Industrial Development Revenue Bonds in one or more series not to exceed Ninety-One Million and No/100 Dollars ($91,000,000.00), for the cost of acquiring, constructing and equipping certain industrial facilities consisting of ,improvements, machinery, equipment and facilities in the City (the "Project");
WHEREAS, the City authorized Alberto-Culver's request and provided the initial permanent financing through the issuance of 'revenue bonds under the Act (the "Series 2007 Bonds"), and the City leased the Project to Alberto-Culver pursuant to a Lease Agreement dated June 8,2007 (the "Original Lease"); and
WHEREAS, Unilever Manufacturing (US), Inc. (the "Company") is the successor of Alberto-Culver by virtue of an acquisition dated in or around 2010; and
WHEREAS, Alberto-Culver assigned its rights and obligations in the Original Lease to the ...
Click here for full text