09/11/2008 Resolutions 2008-258RESOLUTION 2008-258
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 Former 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 Bank, N.A.;
WHEREAS, the Lease Purchase Agreement is allowed by Nebraska State Law for the
purposes of constructing a public building; and
Agreement.
WHEREAS, the Lease Purchase Agreement includes the requirement for an Escrow
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 Escrow Agreement and related documents.
Adopted by the City Council of the City of Grand Island, Nebraska, September 11, 2008.
Margaret ornady, Mayor
Attest:
RaNae Edwards, City Clerk
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Approved as to Form is ~
September 11, 2008 ~ CityAttorney