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0 <br />� RESOLUTION <br />WHEREAS, the Council of the City of Charlottesville, <br />Virginia (the "Council"), has created the Industrial Develop- <br />ment Authority of the Citv of Charlottesville, Virginia (the <br />"Authority"), pursuant to the Virginia Industrial Development <br />and Revenue Bond Act to fulfill the purposes of such Act; and <br />WHEREAS, the Ordinance adopted by the Council on July 19, <br />1976, as amended on February 3, 1980, which created the Authority <br />(the "Ordinance"), provides that the Authority shall not finance <br />any facility until the location and financing of such facility <br />have been approved by the Council; and <br />WHEREAS, Section 5 of the Ordinance sets forth certain <br />standards to be considered by the Authority and the Council in <br />determining the nature and location of facilities to be financed <br />by the Authority; and <br />WHEREAS, the Authority on May 27, 1981 adopted an induce- <br />ment resolution agreeing to assist Automotive Parts Incorporated <br />(the "Corporation") in the financing of the acquisition, construc- <br />tion and equipping of an automotive parts sales facility to be <br />located on Harris Street in the City of Charlottesville, Virginia <br />(the "Project"), by the issuance of the Authority's industrial <br />development revenue bonds in an amount not to exceed $200,000; and <br />WHEREAS, preliminary plans for the Project and the financing <br />have been described to the Council in a presentation by the <br />Corporation; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF CHARLOTTESVILLE, VIRGINIA. <br />1. It is hereby found and determined that the acquisition, <br />construction and equipping of the Project will be in the public <br />interest and will promote the safety, health, welfare, convenience <br />or prosperity of the City of Charlottesville, Virginia, and its <br />citizens. <br />2. The Council hereby approves the location and financing <br />of the Project. <br />3. It is hereby found and determined that the Project meets <br />• the criteria set forth in Section 5 of the Ordinance. <br />4. This resolution shall take effect immediately. <br />Copy teste: Adopted by Council <br />June 1, 1981 <br />Clerk of CouncIT <br />