HomeMy WebLinkAbout09685RESOLUTION NO. 9685
A RESOLUTION APPROVING AGREEMENTS BETWEEN PUEBLO, A MUNICIPAL
CORPORATION, PUEBLO DEVELOPMENT FOUNDATION, AND HOSPITAL COOPERATIVE
LAUNDRY, INC. RELATING TO A JOB CREATING CAPITAL IMPROVEMENT PROJECT,
AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME, AND
TRANSFERRING $485,000 FROM THE 1992 -2006 SALES AND USE TAX CAPITAL
IMPROVEMENT PROJECTS FUND FOR SUCH PURPOSE
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The City Council finds and determines that the expenditure of $485,000 for the job creating
capital improvement project with Hospital Cooperative Laundry, Inc. described in the attached
Agreements, meets and complies with the criteria and standards established by Ordinance No.
6381 and will create employment opportunities justifying the expenditure of public funds.
SECTION 2
The following Agreements, copies of which are attached hereto, approved as to form by the
City Attorney, are hereby approved, and the President of the City Council is authorized to execute
and deliver the Agreements in the name of the City:
(a) Termination Agreement dated September 23, 2002 between Pueblo, a municipal
corporation and Pueblo Development Foundation, and
(b) Agreement dated September 23, 2002 between Pueblo, a municipal corporation
and Hospital Cooperative Laundry, Inc.
SECTION 3
Funds in an amount of $485,000 are hereby authorized to be transferred, expended and
made available to Hospital Cooperative Laundry, Inc. out of the 1992 -2006 Sales and Use Tax
Capital Improvement Projects Fund for the sole purpose of the job creating capital improvement
project and in the manner described in the attached Agreements. The funds hereby authorized to
be transferred and expended shall be released and paid by the Director of Finance to or for the
benefit of Hospital Cooperative Laundry, Inc. after receipt (i) by the City Clerk of the documents
required to be filed pursuant to paragraph 2(e) of the Hospital Cooperative Laundry, Inc.
Agreement and (ii) by the Director of Finance of written requests for payment required by
paragraph 2(f) of the Hospital Cooperative Laundry, Inc. Agreement.
SECTION 4
The officers of the City are directed and authorized to perform any and all acts consistent
with the intent of this Resolution and attached Agreements to effectuate the transactions described
therein.
SECTION 5
This Resolution shall become effective upon final approval and passage.
INTRODUCED September 23, 2002
BY Robert Schilling
Councilperson
APPROVED
resident of City Council
ATTEST:
City C