HomeMy WebLinkAboutAUTHORIZING RESOLUTION THE INDUSTRIAL DEVELOPMENT CORP PROMOTING INDUSTRIAL DEVELOPMENT IN THE VICINICTY OF RICHMOND COUNTYAUTHORIZING RESOLUTION
WHEREAS, The Industrial Development Corporation of Richmond County, Georgia
(the "IDC ") was formed in 1965 by Richmond County, Georgia for the purposes of, among other
things, stimulating and promoting industrial development in the vicinity of Richmond County,
Georgia; and
WHEREAS, on or about March 1, 1965, the IDC acquired certain real property lying
and being in the 123rd District, G.M., Richmond County, Georgia, containing 5.749 acres, more
or less, and being commonly known under the tax records of Richmond County, Georgia as 1551
Marvin Griffin Road, Augusta, Georgia and as Tax Map No. 134 -0- 004 -00 -0, on which real
property is located certain improvements consisting of, among other things, warehouse and
office facilities (such real property and improvements being referred to collectively herein as the
"Property "); and
WHEREAS, on or about March 1, 1965, the IDC entered into a lease (as the same may
have been modified and amended from time to time, the "Lease ") pursuant to which the IDC
leased the Property to Genesco Inc., a Tennessee corporation ( "Genesco "); and
WHEREAS, in order to acquire the Property and carry out its obligations under the
terms of the Lease, the IDC issued certain bonds (collectively, the `Bonds ") known as "The
Industrial Development Corporation of Richmond County, Georgia First Mortgage Bonds, Series
A (GENESCO) "; and
WHEREAS, Genesco subleased the Property to E -Z -GO Division of Textron, Inc., a
Delaware corporation ( "E- Z -GO "), pursuant to a Sublease (as the same may have been modified,
amended and assigned from time to time, the "Sublease "), dated as of May 1, 1981; and
WHEREAS, the Bonds are no longer outstanding and all of the IDC's indebtedness has
been paid; and
WHEREAS, Paragraph 2(e) of the IDC's Articles of Incorporation provide that one of
the objects and purposes for which the IDC is organized is to conduct its business and affairs so
as to transfer by gift to Richmond County, Georgia (currently known as Augusta, Georgia) after
all of the IDC's indebtedness has been paid, all right, title and interest of the IDC in or to all of
its properties and assets (subject to any leases that may then exist thereon); and
WHEREAS, on or prior to the date hereof, the IDC and Genesco have terminated the
Lease; and
WHEREAS, on or prior to the date hereof, Genesco and E -Z -GO have terminated the
Sublease; and
WHEREAS, E -Z -GO has and continues to use and occupy the Property and desires to
continue to do so; and
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WHEREAS, the IDC desires to convey the Property by gift to Development Authority of
Richmond County (the "Development Authority "; and such conveyance being referred to herein
as the "IDC Conveyance ") in order for the Development Authority to directly lease the Property
to E -Z -GO for the purpose of promoting trade, commerce, industry and employment within the
territory of Richmond County, Georgia; and
WHEREAS, in order to accomplish the IDC Conveyance, the IDC desires to modify and
amend its Articles of Incorporation to authorize the IDC to convey the Property by gift directly
to the Development Authority; and
WHEREAS, after careful study and investigation, Augusta, Georgia desires to consent to
the foregoing in order to promote trade, commerce, industry and employment within the territory
of Richmond County, Georgia.
NOW, THEREFORE, BE IT RESOLVED by the Augusta - Richmond County
Commission (the "Commission ") as follows:
1. The Commission hereby consents to and approves the IDC Conveyance to the
Development Authority.
2. The Commission hereby consents to and approves the IDC modifying and amending
its Articles of Incorporation to provide that, with respect to the Property, one of the objects and
purposes for which the IDC is organized is to conduct its business and affairs so as to transfer by
gift to the Development Authority, after all of the IDC's indebtedness has been paid, all right,
title and interest of the IDC in or to the Property.
3. The Mayor or Mayor Pro Tempore and Clerk of Commission of Augusta, Georgia are
authorized and directed to execute and deliver all such contracts, instruments, documents,
affidavits, or certificates and to do and perform all such other things and acts as each shall deem
necessary or appropriate in furtherance of effectuating the intents and purposes of this Resolution
and the carrying out of the transactions authorized by this Resolution or contemplated by the
instruments and documents referred to in this Resolution.
4. This Resolution shall be placed on file at the office of Augusta, Georgia and made
available for public inspection by any interested party immediately following the passage and
approval of this Resolution.
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signature appears on following page]
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PASSED, ADOPTED, SIGNED, APPROVED, AND EFFECTIVE this 18th day of
December 2012.
A tm Mayor
' .2 10 1 z-
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AUGUSTA, GEORGIA
By: Ct'eV`
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2012.
CLERK OF COMMISSION'S CERTIFICATE
I, LENA J. BONNER, the duly appointed, qualified, and acti>�Clerk of Commission of
Augusta, Georgia, DO HEREBY CERTIFY that the foregoing pages of typewritten matter
constitute a true and correct copy of a resolution adopted on December 18, 2012, by the Augusta -
Richmond County Commission (the "Commission ") in a meeting duly called and assembled in
accordance with applicable laws and with the procedures of Augusta, Georgia, by a vote of
8 Yea and 0 Nay, which meeting was open to the public and at which a quorum was
present and acting throughout, and that the original of the foregoing resolution appears of public
record in the Minute Book of the Commission, which is in my custody and control.
(SEAL)
GIVEN under my hand and the seal of Augusta, Georgia, this 18th day of December
4• 7nOkii
,0 . Clerk of C mission
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