City Council

8. Resolution Approving the Issuance of Tax-Exempt Debt in the form of Industrial\nDevelopment Bonds Issued by the Calfornia Enterprise Development Authority for\nFinancing of Manufacturing Facilities in the City for the Benefit of Aeros Corp. For the\npurposes of satisfying certain requirements of the Tax and Equity Fiscal Responsibility Act of\n1982 (“TEFRA”) and the Internal Revenue Code of 1986 (the “Code”), a public hearing is to be\nconducted by the City Council to hear and consider information concerning the issuance of tax-\nexempt debt in the form of Industrial Development Bonds (“IDBs” or “Bonds”) issued by the\nCalifornia Enterprise Development Authority (“CEDA”) in an amount not to exceed $10,000,000\nto support Aeros Corp. (“Aeros”) in financing the Aeros manufacturing facility located at Brackett\nField in the City of La Verne (the “Project”).\nRecommendation: That the City Council conduct a public hearing to satisfy the requirements of\nthe Tax and Equity Fiscal Responsibility Act of 1982 and the Internal Revenue Code of 1986,\nand upon conclusion, adopt a Resolution titled, "A RESOLUTION OF THE CITY COUNCIL OF\nTHE CITY OF LA VERNE, STATE OF CALIFORNIA, APPROVING THE ISSUANCE BY\nCALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY OF NOT TO EXCEED $10,000,000\nAGGREGATE PRINCIPAL AMOUNT OF THE AUTHORITY'S REVENUE BONDS FOR THE\nBENEFIT OF AEROS CORP. AND/OR A RELATED ENTITY FOR THE PURPOSE OF\nFINANCING, REFINANCING AND/OR REIMBURSING THE COST OF MANUFACTURING\nFACILITIES, PROVIDING THE TERMS AND CONDITIONS FOR SUCH BONDS AND OTHER\nMATTERS RELATING THERETO HEREIN SPECIFIED."