HomeMy WebLinkAbout11413RESOLUTION NO. 11413
A RESOLUTION APPROVING AN AMENDMENT TO THE JULY 10, 2006 AGREEMENT
BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND VERISMA SYSTEMS, INC., A
DELAWARE CORPORATION RELATING TO A JOB CREATING CAPITAL IMPROVEMENT
PROJECT AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Amendment to the July 10, 2006 Agreement between Pueblo, a municipal corporation
and Verisma Systems, Inc., a Delaware corporation, relating to a job creating capital improvement
project, a copy of which is attached hereto, having been approved as to form by the City Attorney,
is hereby approved. The President of the City Council is authorized to execute the Amendment in
the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest
same.
SECTION 2_
This Resolution shall become effective upon final approval and passage.
INTRODUCED September 22. 2008
.11413
[ED D
�J 'D
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 9
DATE: September 22, 2008
DEPARTMENT: Law Department
TITLE
A RESOLUTION APPROVING AN AMENDMENT TO THE JULY 10, 2006
AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND
VERISMA SYSTEMS, INC., A DELAWARE CORPORATION RELATING TOAJOB
CREATING CAPITAL IMPROVEMENT PROJECT AND AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME
ISSUE
Should the City Council extend Verisma Systems, Inc.'s employment commitment
dated from January 1, 2008 to January 1, 2009.
RECOMMENDATION
Staff recommends approval.
BACKGROUND
Pursuant to the job creating capital improvement Agreement dated July 10, 2006
between City and Verisma Systems, Inc. ( "Company "), Company's Employment
Commitment Date is January 1, 2008. The Amendment will extend such date to
January 1, 2009.
FINANCIAL IMPACT
None.
AMENDMENT
THIS AMENDMENT is entered into as of September 22, 2008 by and between Pueblo, a
Municipal Corporation ( "City ") and Verisma Services, Inc., a Delaware Corporation ( "Company "),
WITNESSETH
WHEREAS, City and Company entered into an Agreement dated as of July 10, 2006
( "Agreement "), and
WHEREAS, Company has requested that the Employment Commitment Date as defined in
the Agreement be extended, and
WHEREAS, City is willing to extent the Employment Commitment Date.
NOW, THEREFORE, in consideration of the foregoing and mutual promises contained
herein, City and Company agree as follows:
1. The Employment Commitment Date as defined in paragraph 1 of the Agreement is
extended from January 1, 2008 to January 1, 2009.
2. The Agreement as modified by paragraph 1 above shall remain in full force and
effect, binding upon and inuring to the benefit of the City and Company and their respective
successors approved assigns.
Executed at Pueblo, Colorado, the day and year first above written.
[ S E A L ]_ PUEBLO, a Municipal C poration
Attest: sw By
-city-CI& - President of the City Council
[SEAL]
Attest: (/l/► �t 01 By
Name: �ETC/Z (?/►�L/¢�IG/' /ix
Title: ✓ /�• /�Qifit' /�? � h , KA9 /� ey �
VERISMA SYSTEMS, INC., a Delaware
CONSENT
The following named persons consent to and approve the foregoing Amendment and agree
that same will not in any manner affect their liability as guarantors under their Continuing Guaranty
executed July 10, 2006.
Dated at Pueblo, Colorado 0/// , 2008.
Michael D. Pugh v
" G lle-dl�-e .-
James C. Moore, II