HomeMy WebLinkAbout~Master - Sale of Shares for Engineering Animation, Inc., Stock RESOLUTION NO. 00-447
RESOLUTION AUTHORIZING THE CITY TREASURER TO ACCEPT
A TENDER OFFER FROM UNIGRAPHICS SOLUTIONS, INC., TO
PURCHASE THE 260 SHARES OF ENGINEERING ANIMATION, INC. (EAI)
HELD BY THE CITY OF AMES, IOWA
WHEREAS,the City of Ames'participation in the Ames Seed Capital Fund in 1988 included
an equity investment in a company called Cimtechnologies; and,
WHEREAS, the City of Ames' portion of the Ames Seed Capital Fund investment in
Cimtechnologies totaled $2,818.79; and
WHEREAS, in 1997,EAI purchased Cimtechnologies by swapping EAI stock for all of the
outstanding Cimtechnologies' shares, with the City of Ames receiving 260 shares of EAI; and,
WHEREAS,with the pending merger of EAI,the City can either accept the tender and sell
the stock now at $13.75/share or receive the same amount for the shares at a later date.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the City Treasurer is hereby authorized to accept the tender offer and sell the EAI shares at
$13.75/share.
ADOPTED THIS 26th day of September, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Hoffman
Seconded by: Cross
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 26th day of September, 2000.