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RESOLUTION NO.
105-87
A RESOLUTION ENDORSING THE APPLICATION OF CIB
DEVELOPMENT CORPORATION TO THE ARKANSAS
DEVELOPMENT FINANCE AUTHORITY FOR A $1.6
MILLION LOAN GUARANTEE FOR A MANUFACTURING
PLANT.
WHEREAS, CIB Development Corporation (the "Company") proposes
to locate a manufacturing plant in the City of Fayetteville,
Arkansas (the "City"); and
WHEREAS, the City has determined that the manufacturing plant
proposed by the Company will increase employment and payrolls in
the City; and
WHEREAS, the raw material for the product to be manufactured
by the Company is certain chicken parts for which there is an
abundant supply in Northwest Arkansas; and
WHEREAS, the
Development Finance
loan guarantee for
ment; and
Company has made application to the Arkansas
Authority (the "Authority") for a $1.6 million
part of the Company's required capital invest -
WHEREAS, the Fayetteville Board of Directors
Company to locate the proposed manufacturing plant
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD
THE CITY OF FAYETTEVILLE, ARKANSAS:
desires for the
in the City.
OF DIRECTORS OF
Section 1. That the Board of Directors hereby endorses
the application of CIB Development Corporation to the Arkansas
Development Finance Authority for a $1.6 million loan guaranty and
hereby urges the Authority to approve said application.
PASSED AND APPROVED this 15th day of December , 1987.
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