HomeMy WebLinkAbout~Master - CEBA loan application for Palisade Systems, Inc. RESOLUTION NO. 01-473
RESOLUTION APPROVING SUBMITTAL OF CEBA LOAN
APPLICATION ON BEHALF OF PALISADE SYSTEMS,INC.,
CONTINGENT UPON APPROVAL OF THE REVOLVING LOAN FUND
APPLICATION
FOR THE CITY OF AMES,IOWA
WHEREAS,the City of Ames is being asked to submit a$100,000 CEBA application to the
State of Iowa on behalf of Palisade Systems, Inc.; and,
WHEREAS,the$100,000 will be in the form of one-half forgivable loan and one-half loan
at a low interest rate; and,
WHEREAS, Palisade Systems, Inc., assists organizations in addressing productivity,
bandwidth,liability,and security issues associated with internal and Internet-based networks through
the utilization of software products developed by Palisade Systems, Inc.; and,
WHEREAS,the company is pledging to create 46 full-time equivalent new jobs over the next
three years with an annual average wage for these positions at $48,000; and,
WHEREAS, the CEBA application is contingent upon the approval of the $50,000 City of
Ames Revolving Loan Fund(RLF) application.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the submittal of a $100,000 CEBA loan application on behalf of Palisade Systems, Inc., is
hereby approved contingent upon the approval of the City of Ames RLF application.
ADOPTED THIS 23rd day of October, 2001.
Diane R.Voss,City Clerk Ted Tedesco,Mayor
Introduced by: Goodhue
Seconded by: Hoffman
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 23rd day of October, 2001.