HomeMy WebLinkAboutMinutes - 151st - December 8, 2005 signedTHE 151st SPECIAL MEETING OF. THE
ECONOMIC DEVELOPMENT CORPORATION OF LIVONIA
The 151st Special Meeting of the Economic Development Corporation of Livonia was
called to order by Mr. Gerald Taylor, Chairman, at 2:00 p.m. on December 8, 2005, in the
Third Floor Conference Room, 33000 Civic Center Drive, Livonia, Michigan.
Directors present:
Mr. Gerald Taylor, Chairman
Mr. Richard Hayward, Secretary
Ms. Charlotte Mahoney, Treasurer
Mr. Richard Gallagher
Mr. Angelo Plakas
Directors absent: Mr. Kenneth Hale, Vice Chairman
Others present:
Mr. Mark Taormina, Executive Director
Mr. Thomas D. Colis, Miller, Canfield, Paddock and Stone, PLC
Ms. Marge Watson, Recording Secretary
1. Roll call of members.
2. The next item on the agenda was the request for a substitute credit instrument for
the Livonia Luxury Suites, Ltd. project by Mr. Thomas Colis, Miller, Canfield,
Paddock and Stone, PLC.
On a motion duly made by Gallagher, seconded by Mahoney, and unanimously
adopted, it was
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RESOLVED, that the Economic Development Corporation of Livonia
does hereby authorize a Substitute Letter of Credit by Comerica Bank
relating to Bonds issued by the Economic Development Corporation of
Livonia to finance a motel owned by Livonia Luxury Suites, Ltd., a
detailed resolution having been prepared by Miller, Canfield, Paddock
and Stone, PLC, which is herein incorporated by reference in its
entirety.
A roll call on the foregoing resolution was taken with the following result:
AYES: Gallagher, Mahoney, Hayward, Plakas, Taylor
NAYES: None
ABSTAIN: None
ABSENT: Hale
Mr. Taylor, Chairman, declared the resolution adopted.
3. On a motion duly made and seconded, the 151st Special Meeting held by the
Economic Development Corporation of Livonia was adjourned at 2:25 p.m.
R s ectfully submitted,
Richard Hayward, Sec*fary