The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #12-157
Resolution approving correction of scrivener’s error in
MC Industries Development Agreement.
WHEREAS, The Council previously approved a Development Agreement with MC Industries, and
WHEREAS, The Development Agreement called for twenty (20) tax rebate payments, in June and December of each year, over a ten (10) year period, and
WHEREAS, The Development Agreement indicated that the first rebate payment was to be made in December of 2013 and the last in June of 2022, or a total of 18 payments as opposed to twenty, and
WHEREAS, A review of the agreement makes clear that the first payment was to be made in December of 2012, and has been planned to be made in December of 2012, with the last payment to be made in June of 2022, resulting in a total of twenty (20) payments, and
WHEREAS, A resolution, clarifying and correcting the previously approved Developer’s Agreement is necessary and appropriate.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Monticello does hereby formally approve the correction of the scrivener’s error in the original developer’s agreement, noting that the first Tax Rebate Payment will be made in December, 2012 as opposed to December, 2013.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 3rd day of December, 2012.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk