HomeMy WebLinkAbout~Master - Approving CEBA Royalty Agreement Among the Iowa Department Economic Development, ETREMA Products, Inc. RESOLUTION NO. 99-122
RESOLUTION APPROVING CEBA ROYALTY
AGREEMENT AMONG THE IOWA DEPARTMENT
ECONOMIC DEVELOPMENT, ETREMA PRODUCTS, INC.,
AND THE CITY OF AMES, IOWA
WHEREAS,on February 23, 1999,the City of Ames submitted a CEBA Venture Component
application on behalf of ETREMA Products, Inc., to the State of Iowa; and,
WHEREAS, the Iowa Department of Economic Development approved a CEBA Venture
Component Award to the City of Ames on behalf of ETREMA Products, Inc., for assistance in
developing and manufacturing a borehole seismic energy source and the creation of a software model
to clean up groundwater sites that have been contaminated by hydrocarbons and dense non-aqueous
phase liquids; and,
WHEREAS, it is necessary to approve the CEBA Royalty Agreement among the City of
Ames;ETREMA Products,Inc.;and the Iowa Department ofEconomic Development for a$100,000
grant; and,
WHEREAS,the City of Ames has no obligations or responsibilities with this Agreement as
the liability of nonconformance lies with the business.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the CEBA Royalty Agreement among the City of Ames;ETREMA Products,Inc.,and the Iowa
Department of Economic Development for a $100,000 grant is hereby approved.
ADOPTED THIS 27th day of April, 1999.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Hoffman
Seconded by: Cross
Voting aye: Cross, Hoffinan, Parks, Quirmbach, Wirth
Voting nay: None Absent: Campbell
Resolution declared adopted and signed by the Mayor this 27th day of April, 1999.