[ Statement of Proceedings | Calendar | Clerk of the Board ]
[ Statement of Proceedings | Calendar | Clerk of the Board ]
STATEMENT OF PROCEEDINGS
REGULAR MEETING OF THE SAN DIEGO COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY
TUESDAY, APRIL 13, 1999
Meeting was called to order at 9:04 a.m.
Present: Directors Pam Slater, Chairwoman; Dianne Jacob, Vice Chairwoman; Greg Cox; Ron Roberts and Bill Horn; also Thomas J. Pastuszka, Clerk.
Public Communication
(No Speakers)
Industrial Development Authority Agenda Items
1. Viratec Thin Films, Inc., Tax-Exempt Financing Agency
(Relates to Board of Supervisors Agenda No. 12)
IDA 1 SUBJECT: Viratec Thin Films, Inc., Tax-Exempt Financing
(Supv. Dist. All)
In order to qualify for a tax-exempt Industrial Development Bond allocation, a private entity must have the sponsorship of a government agency, therefore, Apogee Enterprises, Inc. is seeking the County's sponsorship. Should Apogee Enterprises, Inc. be successful in receipt of an allocation from the State, a second approval would be required from the Industrial Development Authority to proceed with the issuance of tax-exempt bonds. Should Apogee Enterprises, Inc. not be successful in the receipt of an allocation from the State, no further actions would be required with regards to this financing.
If approved, this proposal will result in $1,500 of one-time revenue to be used to fund the County's Investor Relations Program as approved by the Board of Supervisors pursuant to Board Policy B-65, Tax-Exempt Financing on Behalf of Nonprofit Corporations. No additional County cost or staff years will be required.
Adopt the resolution reflecting the Industrial Development Authority's intention to go forward with the issuance of tax-exempt bonds contingent upon successful receipt of an allocation from the State.
(Relates to Board of Supervisors Agenda No. 12)
ON MOTION of Director Horn, seconded by Director Cox, the Directors of the Industrial Development Authority took action as recommended, on Consent, adopting Resolution No. 99-111, entitled: A RESOLUTION MAKING DETERMINATION WITH RESPECT TO THE FINANCING OF A PROJECT FOR APOGEE ENTERPRISES, INC. AND ITS SUBSIDIARY VIRATEC THIN FILMS, INC.
AYES: Cox, Jacob, Slater, Roberts, Horn
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There being no further business, the Board adjourned at 4:47 p.m.
THOMAS J. PASTUSZKA
Clerk of the San Diego County
Industrial Development Authority
Notes by: Bryson
NOTE: This Statement of Proceedings sets forth all actions taken by the San Diego County Industrial Development Authority on the matters stated, but not necessarily the chronological sequence in which the matters were taken up.
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Dist 1 Greg Cox
| Dist 2 Dianne Jacob | Dist 3 Pam Slater
Dist 4 Ron Roberts | Dist 5 Bill Horn
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