HomeMy WebLinkAbout~Master - Approving Submittal of CEBA Loan Application for Premise Systems, Inc. RESOLUTION NO. 99-248
RESOLUTION APPROVING SUBMITTAL OF
CEBA LOAN APPLICATION ON BEHALF OF
PREMISES SYSTEMS, INC.,
FOR THE CITY OF AMES,IOWA
WHEREAS, the City of Ames is being asked to submit a $90,000 forgivable loan and a
$90,000 loan for a total of$180,000 CEBA application to the State of Iowa on behalf of Premise
Systems, Inc.; and,
WHEREAS,Premise Systems,Inc.,is a start-up company based at the Iowa State University
(ISU)Research Park that develops software for the home and commercial automation markets;and,
WHEREAS, the company is pledging to create 60 full-time positions and 20 part-time
positions over the next two years; and,
WHEREAS,the CEBA application is contingent upon the approval of$25,000 from the City
of Ames Revolving Loan Fund Committee and$25,000 from the Ames Seed Capital Fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the submittal of a CEBA application on behalf of Premises Systems, Inc., is hereby approved.
ADOPTED THIS 13th day of July, 1999.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Hoffman
Voting aye: Campbell, Cross, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Abstaining: Parks
Resolution declared adopted and signed by the Mayor this 13th of July, 1999.