The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #2021-134
Resolution Appropriating funds necessary to meet the City’s Obligation to MC Industries under the Development Agreement dated August 2, 2010
WHEREAS, The Council approved a Development Agreement with MC Industries by Resolution #10-96 dated August 2, 2010, and
WHEREAS, The agreement provided for five Grant payments in the amount of $20,000 each and property tax rebates over a period of ten (10) years at percentages and under conditions as set forth in the agreement, and
WHEREAS, The City, by way of Resolution #2020-135, appropriated $5,816 to meet the City’s obligations under the tenth and final year tax rebate provisions, FY ’22, of the agreement based upon estimated valuations, and
WHEREAS, After final assessments and payment of taxes, the tenth and final year rebate came in at $5,882 resulting in the City’s appropriation being short in the amount of $66, this Resolution correcting the estimate to match the actual rebate, increasing the appropriation from $5,816 to $5,882, and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Monticello does hereby acknowledge the correction of the FY ’22 total rebate by increasing the estimated sum of $5,816 to the actual amount of $5,882.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 15th day of November, 2021.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk