HomeMy WebLinkAbout~Master - EDSA Revolving Loan Fund Contract with Ball Plastics Container Corporation RESOLUTION NO. 02-164
RESOLUTION APPROVING CITY OF AMES
ECONOMIC DEVELOPMENT SET-ASIDE (EDSA)
REVOLVING LOAN FUND CONTRACT BETWEEN THE
CITY OF AMES AND BALL CORPORATION
WHEREAS,Ball Plastic Container Corporation has been awarded a five-year$50,000 loan
at 2.50% through the City of Ames EDSA Revolving Loan Fund program; and,
WHEREAS,this money is being used for the local match for a$150,000 EDSA award from
the state of Iowa; and,
WHEREAS,the loan is secured by UCC filings with Story County and the state of Iowa on
certain assets of the company.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the City ofAmes EDSA Revolving Loan Fund Contract with Ball Plastic Container Corporation
for$50,000 is hereby approved.
ADOPTED THIS 26t''day of March, 2002.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Wirth
Voting aye: Cross, Hoffman, Quirmbach, Vegge, Wirth
Voting nay: None Absent: Goodhue
Resolution declared adopted and signed by the Mayor this 26t'day of March, 2002.