01/14/2003 Resolutions 2003-14
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RES 0 L UTI 0 N 2003-14
WHEREAS, on June 13, 1994, by Resolution 94-147, the City of Grand Island
adopted the CDBG Income Reuse Plan for the City of Grand Island Economic Revolving Loan Fund;
and
WHEREAS, the reuse fund is capitalized by program income from Economic
Development Community Development Block Grant (CDBG) projects funded by the Nebraska
Department of Economic Development; and
WHEREAS, the fund balance is presently $183,609; and
WHEREAS, an application has been received from Case New Holland seeking
$150,000 to assist with the purchase oflaser equipment to be used in the fabrication of metal for the
combine operations at the plant; and
WHEREAS, the City's Revolving Loan Fund Committee recommends approval ofthe
application submitted by Case New Holland.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the application of Case New Holland for
$150,000 in Community Development Block Grant (CDBG) funds to assist with the purchase of
laser equipment to be used in the fabrication of metal for the combine operations at the plant is
hereby approved.
BE IT FURTHER RESOLVED, that an agreement setting out the terms and
conditions of such funding be entered into between the parties; and the Mayor is hereby authorized
and directed to execute such agreement on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, January 14, 2003.
Qo.\)O.L ~~
RaNae Edwards, City Clerk
Approved as to Form J:l ~
January 10, 2003 J:l City Attorney