HomeMy WebLinkAbout~Master - RLF application for Phasient Learning Technologies RESOLUTION NO. 02-598
RESOLUTION APPROVING REVOLVING LOAN FUND APPLICATION
FOR PHASIENT LEARNING TECHNOLOGIES
FOR THE CITY OF AMES
WHEREAS,Phasient Learning Technologies is a three year-old company that is developing
a courseware development product that enables the production of high-quality,web-based training
that organizes and distributes training content and a learning management system that tracks and
reports learning progress into a complete, turnkey e-learning system.
WHEREAS, the City of Ames is being asked to provide financial assistance in the form of
a$50,000 City of Ames Revolving Loan Fund loan for this program; and,
WHEREAS, funding is comprised of a CEBA Venture award and equity from Phasient
Learning Technologies; and,
WHEREAS, staff is recommending approval of this request.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Revolving Loan Fund application for a$50,000 loan for Phasient Learning Technologies is
hereby approved.
ADOPTED THIS 26t''day of November, 2002.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Goodhue
Seconded by: Cross
Voting aye: Cross, Goodhue, Hoffman, Vegge,Wirth
Voting nay: None Absent: Quirmbach
Resolution declared adopted and signed by the Mayor this 26t'of November, 2002.