HomeMy WebLinkAbout2005-12-05-Resolutions 05-222_Library Facility - Forgive Debt ObligationsTHE CITY OF WAUKEE,IOWA
RESOLUTION 05-222
APPROVING THE FORGTVRNESS OF THE LIBRARY'S LOAN OBLIGATIONS TO
THE CITY OF WAUKEE
IN THE NAME AND BY THE A UTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,the City of Waukee approved the establishment of a one year line of credit in the
amount of $60,000.00 given to the Waukee Public Library Foundation by Resolution No.99-55
on June 7,1999;AND,
WHEREAS,the City of Waukee approved a loan in the amount of $125,000.00 given to the
Waukee Public Library Foundation by Resolution No.00-04 on January 3,2000;AND,
WHEREAS,the old library was transferred as a part of the golf course purchase transaction and
valued at $200,000 at the time;AND,
WHEREAS,the Waukee Public Library Foundation has conveyed the current library to the City
of Waukee by Quit Claim Deed;AND
'WHEREAS,the City of Waukee has received sufficient proceeds and consideration in order to
forgive the line of credit and loan given to the Waukee Public Library Foundation.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council that the line of
credit and loan given to the Waukee Public Library Foundation by the City of Waukee are
forgiven.
Passed by the City Council of the City of Waukee,Iowa,and approved this the 5th day of
December,2005.
Attest:
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,Jr.
Bill Peard
JeffV.Mertz
Darlene Stanton
AYE
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X
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X
NAY ABSENT