Loading...
HomeMy WebLinkAbout7375RESOLUTION NO. 7 3 7 5 A RESOLUTION APPROVING AN AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND NC SYSTEMS, INC. RELATING TO A JOB CREATING CAPITAL IMPROVE- MENT PROJECT AND AUTHORIZING THE EXPENDITURE OF $300,000 THEREFOR FROM THE 1992 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECT FUND WHEREAS, NC Systems, Inc. has expressed a willingness to locate its business activities within the Pueblo Municipal Airport Industrial Park and has committed to employ at its facilities within the Pueblo Municipal Airport Industrial Park, not less than thirty full -time employees, and WHEREAS, NC Systems, Inc. through the Pueblo Economic Development Corporation has made application for funds from the 1992 Sales and Use Capital Improvement Project Fund, and WHEREAS, the City Council is willing to approve such application for funds upon the terms and conditions set forth herein; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The City Council does hereby fmd and determine that NC Systems, Inc.'s application for funds meets and complies with the criteria and standards established by Ordinance No. 5742 and will create employment opportunities justifying the expenditure of public funds. SECTION 2 The Agreement dated May 9, 1994 between Pueblo, a municipal corporation and NC Systems, Inc., a copy of which is attached hereto and incorporated herein, having been approved as to form by the City Attorney, is hereby approved. The President of the City Council is authorized to execute and deliver the Agreement in the name of the City and the City Clerk is authorized and directed to affix the seal of the City thereto and attest same. SECTION 3 Funds in an amount not to exceed $300,000 are hereby authorized to be expended and made available to NC Systems, Inc. out of the 1992 Sales and Use Tax Capital Improvement Fund for the sole purpose of reimbursing it for the cost of the capital improvement project described in the attached Agreement. The funds hereby authorized to be expended shall be released and paid by the Director of Finance to NC Systems, Inc. upon receipt of written requests for payment required by paragraph 2(c) of the Agreement. SECTION 4 This Resolution shall become effective upon final passage. INTRODUCED: May 9, 1994 By JOHN CALIFANO Councilperson ATTEST: AP ;ROVED: Cit Clerk resident of the City Council -2- D U D City of Pueblo OFFICE OF THE CITY ATTORNEY 127 Thatcher Building MEMORANDUM PUEBLO, COLORADO 81003 TO: Marian D. Mead, City Clerk FROM: City Attorney RE: NC Systems, Inc. DATE: June 10, 1994 City Council by Resolution adopted May 9, 1994 approved an Agreement between the City and NC Systems, Inc. (the "Company ") dated May 9, 1994 (the "Agreement ") and authorized funds not to exceed $300,000 to be made available to the Company out of the 1992 Sales and Use Tax Capital Improvement Fund subject to receipt of written requests for payment as required by the Agreement. The Agreement provides that if certain documents are not filed in the City Clerk's office (including an executed Lease between Company and PDF) on or before June 30, 1994, the Agreement terminates and the City is released from all obligations thereunder. We understand the Company will not locate at the Pueblo Airport and the documents will not be executed and filed in your office. Therefore, please do not attempt to obtain the signatures of the officers of the Company to the Agreement. We do not believe it is necessary to cancel the Agreement or repeal the Resolution by Council action. By copy of this letter to Billy Martin, Director of Finance, we are requesting him to advise us as to whether or not he concurs in our opinion since the Resolution appropriated funding for the project. If you have any questions, please call me. Thomas E. Ja /jp xc: Billy Martin, Director of Finance Lew Quigley, City Manager