4640

COUNTY LOCAL LAWS

Resolution No. 66-85

A RESOLUTION authorizing and providing for the issuance from
time to time by Anne Arundel County, Maryland (the "County") of
one or more series of its revenue bonds, bond anticipation notes,
notes in the nature of commercial paper and other instruments,
certificates or evidences of obligation as determined pursuant to
this Resolution in an aggregate principal amount not to exceed
$9,500,000 designated "Anne Arundel County, Maryland Economic
Development Revenue Bonds (West Capital
Associates--Capital-Gazette Communications, Inc. Project),
pursuant to the provisions of the Maryland Economic Development
Revenue Bond Act, Sections 266A through 266-I, inclusive, of
Article 41 of the Annotated Code of Maryland (1982 Replacement
Volume and 1984 Cumulative Supplement) (the "Act") to be issued
in two series, one series in a principal amount not to exceed
$6,000,000 (the "First Series") and one series in a principal
amount not to exceed $3,500,000 (the "Second Series"), in order
to loan the proceeds of the First Series to West Capital
Associates Limited Partnership, a Maryland limited partnership
(hereinafter referred to as the "Real Property Borrower"), for
the sole and exclusive purpose of financing the acquisition by
the Real Property Borrower of a certain facility consisting
generally of (a) the construction of a building containing
approximately 70,000 square feet (the "Building") on all or one
or more portions of the parcel of land containing 18.319 acres
more or less, and located near the intersection of West Street
and Solomons Island Road, in the County (the "Land"), (b) the
acquisition of roads and/or other rights of access, utilities and
other necessary facilities in connection with the ownership or
use of the Land and the Building, and (c) the acquisition of
certain machinery and equipment that is necessary or useful in
connection with the operation of the Building to be used as
printing and publishing plant and offices (the "First Facility")
(which facility is to be leased by the Real Property Borrower to
Capital-Gazette Communications, Inc., a Maryland corporation or
one of its affiliates not yet determined (hereinafter referred to
as the "Facility User"), and in order to loan the proceeds of the
Second Series to Capital-Gazette Communications, Inc., a Maryland
corporation (the "Personal Property Borrower") for the sole and
exclusive purpose of financing the acquisition by the Personal
Property Borrower of a certain facility consisting generally of
the acquisition of (a) an offset newspaper press, (b) associated
press equipment, including plate making and color separation
equipment and cameras and (c) typesetting and editing equipment
(d) storage and newspaper handling equipment (e) general office
equipment, furniture, fixtures and furnishings and (f) such other
machinery, equipment and personal property as may be useful or
necessary in connection with the business of the Personal
Property Borrower and its affiliates (the "Second Facility"), and
the proceeds of each series will also be used for (i) the
necessary costs of preparing, printing, selling and issuing the
series of bonds or other obligations, (ii) the funding of