03/22/2005 Resolutions 2005-88
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RES 0 L UTI 0 N 2005-88
WHEREAS, on September 14, 2004, the Grand Island City Council authorized the
Mayor to proceed with the formulation of documents, contracts and memorandum between the City
of Grand Island and the Nebraska Department of Economic Development to effect the application for
acceptance for Community Development Block Grant Program funds for Standard Iron, Inc.' s
building construction and equipment costs; and
WHEREAS, the city has been successful in obtaining such funds and has proceeded
to have the necessary economic development agreement and financing documents drafted to secure
the Community Development Block Grant Program loan; and
WHEREAS, it is necessary for the Grand Island City Council to authorize the Mayor
to sign the development agreement and the necessary financing documents to conclude the process of
extending the Community Development Block Grant Program funds to Standard Iron, Inc.,
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Mayor is hereby authorized and directed to
proceed with executing the Development Agreement with Standard Iron, Inc., and the Demeules
Family Limited Partnership as well as all other documents necessary to complete the process of
extending Community Development Block Grant Funds to Standard Iron, Inc.
Adopted by the City Council of the City of Grand Island, Nebraska, March 22, 2005.
QS\o.Q, WLU~
RaNae Edwards, City Clerk
Approved as to Form l:l
March 17, 2005