2926-ARESOLUTION NO. W-2007-018
A RESOLUTION OF THE WASHINGTON ECONOMIC DEVELOPMENT
FINANCE AUTHORITY AMENDING ITS RESOLUTION NO. W-2007-008 TO
DECLARE OFFICIAL INTENT TOWARD THE ISSUANCE OF
NONRECOURSE ECONOMIC DEVELOPMENT REVENUE BONDS IN ONE
OR MORE SERIES IN A MAXIMUM AMOUNT NOT TO EXCEED $28,000,000.
WHEREAS, the Washington Economic Development Finance Authority (the
"Issuer") is established as a public body, corporate and politic, with perpetual corporate
succession, constituting an instrumentality of the State of Washington authorized and
empowered by the provisions of RCW Chapter 43.163 (the "Act") to issue nonrecourse
revenue bonds for the purpose of financing economic development activities as defined
in the Act; and
WHEREAS, on April 26, 2007, at a special meeting of the Board of Directors of
the Issuer, the Issuer adopted its Resolution No. W-2007-008 (the "Resolution")
declaring official intent toward the issuance of nonrecourse economic development
revenue bonds in a maximum amount not to exceed $25,500,000, the proceeds of such
issuance to be loaned to Specialty Chemical Products LLC or its successors and assigns
(the "Borrower") to finance project costs of acquiring, constructing, equipping and
improving real or personal property to be used in the solid waste disposal facilities of the
Borrower (the "Project"), as more fully described in the Resolution; and
WHEREAS, the Borrower has informed the Issuer that its estimate of eligible
costs of the Project have increased to $28,000,000 due to construction and other cost
increases, as well as refinement of project costs; and
WHEREAS, the Borrower has requested that the Issuer amend the Resolution to
reflect this increase in costs; and
WHEREAS, the Issuer finds that the amended Project constitutes economic
development activities as defined under the Act; and
• RESOLUTION NO. W-2007-018
A RESOLUTION OF THE WASHINGTON CCONOMIC TA A TV' IXTUVitruvr,r,
•issuance of bonds of the Issuer from $25,500,000 to $28,000,000 to finance costs of the
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Resolution No. W-2007-018 Page 1 of 3 September 13, 2007
Project, such total costs to be financed by the Issuer's bonds being presently estimated to
be $28,000,000.
Section 2. All other provisions of the Resolution shall remain unchanged and
in full force as provided for in the Resolution.
Section 3. This resolution shall be effective after its adoption.
ADOPTED by the Washington Economic Development Finance Authority this
13th day of September, 2007.
WASHINGTON ECONOMIC DEVELOPMENT FINANCE AUTHORITY
ByL/s/ Robert P. Meredith
Chair
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Project, such total costs to be financed by the Issuer's bonds being presently estimated to
be $28,000,000.
Section 2. All other provisions of the Resolution shall remain unchanged and
Page 2 of 3 September 13, 2007 Resolution No. W-2007-018
CERTIFICATE
I, the undersigned, Secretary of the Washington Economic Development Finance
Authority (herein called the "Issuer"), DO HEREBY CERTIFY:
1.That the attached Resolution No. W-2007-018 (herein called the "Resolution") is a
true and correct copy of a resolution of the Issuer as finally adopted at a regular meeting
of the Board of Directors of the Issuer held on the 13th day of September, 2007, and duly
recorded in my office.
2.That said meeting was duly convened and held in all aspects in accordance with law,
and, to the extent required by law and the by-laws of the Issuer, due and proper notice of
such meeting was given; that a legal quorum was present throughout the meeting and a
legally sufficient number of members of the Washington Economic Development
Finance Authority voted in the proper manner for the adoption of the Resolution; that all
other requirements and proceedings incident to the proper adoption of the Resolution
have been duly fulfilled, carried out, and otherwise observed; and that I am authorized to
execute this certificate.
IN WITNESS THEREOF, I have hereunto set my hand this 13th day of September, 2007.
/s/ Mike D. Marave
Secretary
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Resolution No. W-2007-018 Page 3 of 3 September 13, 2007
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