Following is a checklist for application to the city to authorize the issuance of industrial revenue bonds.
(A) Guidelines and criteria.
(1) Nonrefundable fee of $500.
(2) Project information:
(a) Description of the project;
(b) Amount of proposed bond issue;
(c) Proposed purchase of the bonds;
(d) Description of the legal status of the applicant;
(e) If not a public corporation, the names and interest of any owner of more than 10% of the company; and
(f) Statement regarding:
1. Dependency of success upon IRB financing; and
2. Reasons for requesting IRB financing.
(3) Agreement to pay the city’s fee for issuing the bonds and to reimburse the city for all fees charged to it and all expenses incurred by it in connection with the authorization and issuance of the bonds.
(4) Contract for the sale of the bonds.
(5) Agreement to post cash security in an amount to be determined by the Treasurer if, in the opinion of the Treasurer, the security is required to ensure that all the expenses incurred by the city subsequent to the issuance of the bonds will be paid to the city.
(6) Statements from:
(a) City Engineer;
(b) City Attorney; and
(c) City’s financial consultant.
(B) Nature of business.
(1) Economic.
(a) Financial stability:
1. Prospectus;
2. Reports to stockholders;
3. Certified audits for last five years; and
4. Evidence of contract with prospective tenants.
(b) Type of product;
(c) Number of employees at new plant;
(d) Number of employees expected to reside in city;
(e) Number of new jobs created;
(f) Types of skills required by plant’s employees;
(g) Average annual payroll; and
(h) Projected assessed valuation of the project.
(2) Environmental.
(a) Size of the plant in square feet;
(b) Amount of land required;
(c) Proximity to residential areas, schools and parks;
(d) Type of effluent;
(e) Toxic substances, odor, glare, noise;
(f) Physical appearance of the buildings;
(g) Estimated number of vehicles entering the plant area per day; and
(h) Drainage and storm sewer requirements.
(3) Community services.
(a) Traffic and safety requirements;
(b) Utility requirements:
1. Gallons of water used per day;
2. Fire protection requirements;
3. Sewerage requirements:
a. Amount; and
b. Type and BOD level.
4. Projected electricity and gas usage;
5. Need for water main and sewerage line extensions; and
6. Provisions for future connections to water and sewer lines.
(c) Ability of the schools to accommodate possible enrollment increases.
(4) Civic awareness.
(a) Evidence of industry’s past civic activity; and
(b) Responsiveness of industry to community requests.
(2000 Code, § 3.20.020)