09/09/2008 Resolutions 2008-255RESOLUTION 2008-255
WHEREAS, the Nebraska State Unicameral passed Legislative Bill 1116 which
allows for the relocation of the Nebraska State Fair from Lincoln, Lancaster County, to Grand Island,
Hall County, on property known as Fonner Park; and
WHEREAS, the City Council, for the City of Grand Island, in consideration of
LB 1116 has considered the impact of the State Fair upon the City of Grand Island; and
WHEREAS, the City of Grand Island wishes to assist in the efforts to relocate the
Nebraska State Fair by constructing a building, which building will be financed through a Lease
Purchase Agreement with Wells Fargo Brokerage Services, LLC; and
WHEREAS, the Lease Purchase Agreement is allowed by Nebraska State Law for the
purposes of constructing a public building.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Mayor is hereby authorized to, on behalf
of the City, execute the Lease Purchase Agreement and related documents in the amount of
$5,062,500.00 with Wells Fargo Brokerage Services, LLC.
Adopted by the City Council of the City of Grand Island, Nebraska, September 9, 2008.
Margaret Hornady, Mayor
Attest:
RaNae Edwards, City Clerk
Resolution #2008-255 was postponed to the September 11, 2008 City Council Special
Meeting.
Approved as to Form ~ ~~
September 8, 2008 ^ City Attorney