The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #12-77
Resolution Appropriating funds necessary to meet the City’s Obligation to MC Industries under the Development Agreement approved by Resolution #10-96.
WHEREAS, The Council previously approved a Development Agreement with MC Industries that provided for five Incentive Grant payments of $20,000 each, with the first being due upon completion and the issuance of an occupancy permit, and
WHEREAS, The project is complete and an occupancy permit has been issued, and
WHEREAS, The City budget accounts for the 1st payment due MC Industries in the amount of $20,000.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Monticello does hereby formally appropriate and direct the payment of $20,000 from City TIF funds to the developer, MC Industries, pursuant to the Developer’s Agreement previously approved by the City Council.
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 21st day of May, 2012.
John Sauser, Mayor Pro Tem
Attest:
Sally Hinrichsen, Monticello City Clerk