The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #19-90
Approving Payment to Boomerang in relation to installation of Water Main as part of Orbis Mfg. building addition project
WHEREAS, The City of Monticello previously agreed to grant incentives to Orbis Mfg. related to the construction of a significant addition to their manufacturing facility, and
WHEREAS, One of the incentives provided that the City would pay a portion of the costs related to the installation of a water main to serve Orbis and nearby properties, said payment to be made over four years in the total amount of $79,342 or by way of one payment, if FY ’20 in the amount of $53,000, and
WHEREAS, Orbis has submitted an invoice to the City in the amount of $50,703.16 and requests that the City pay said sum in full by no later than July 5, 2019 in full satisfaction of the City’s agreed upon obligations, and
WHEREAS, The Council finds that said payment is less than the sum previously approved and that said payment should therefore be approved.
NOW, THEREFORE, BE IT RESOLVED by the City Council does hereby approve payment of the invoice submitted by Orbis Mfg. in the amount of $50,703.16 in full satisfaction of the City’s obligations under a previously approved amendment to an earlier approved Development Agreement between the City of Monticello and Orbis Mfg., the City Administrator being directed to receive a receipt and acknowledgement from Orbis that said payment fully satisfies the obligation of the City as approved by prior Resolution No. 19-53
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 17th day of June, 2019.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk