01/10/2006 Resolutions 2006-13
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RESOLUTION 2006-13
WHEREAS, on December 17, 2002, by Resolution 2002-394, the City of Grand
Island approved a Memorandum of Understanding (MOU) with New Holland North America, Inc.
(CNH) to lend funds and provide inducements in support of the operation of the Grand Island
manufacturing facility; and
WHEREAS, on January 25, 2005, the City Council passed Resolution 2005-25
authorizing an Addendum to the MOU amending Paragraph 17 ofthe agreement and said addendum
was executed on April 14, 2005; and
WHEREAS, CNH has requested that it be given access to the forgivable loan
proceeds without borrowing the money made available in the Grand Island Partners Loan No.1; and
WHEREAS, amending the MOU will enhance the ability ofCNH to retainjobs at its
Grand Island facility; and
WHEREAS, the Addendum to the Memorandum of Understanding has been reviewed
and approved by the City Attorney.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Second Addendum to the Memorandum of
Understanding with New Holland North America, Inc. to modify Paragraph 13(a) and 13(t) of the
Memorandum of Understanding to remove the requirement that CNH borrow the money made
available through GIPL#l prior to or simultaneous to taking funds ofthe forgivable loan is hereby
approved.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute such Addendum on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, January 10, 2006.
Attest:
QS)/LL <rQw~
RaNae Edwards, City Clerk
Approved as to Form a
January 4, 2006