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RESOLUTION NO. 85 -12 <br /> RESOLUTION <br /> A Resolution authorizing the execution of a Memorandum <br /> of Agreement with Wittern Realty, Inc. <br /> WHEREAS, the City of Clive, Iowa, in the County of Polk, State of <br /> Iowa (the "Issuer "), is an incorporated municipality authorized and <br /> empowered by the provisions of Chapter 419 of the Code of Iowa, 1983, <br /> as amended (the "Act "), to issue revenue bonds for the purpose of <br /> financing the cost of acquiring, by construction or purchase, land, <br /> buildings, improvements and equipment, or any interest therein, <br /> suitable for the use of any industry or industries for the <br /> manufacturing, processing or assembling of any agricultural or <br /> manufactured products or of any commercial enterprise engaged in <br /> storing, warehousing or distributing products of agriculture, mining or <br /> industry, or of a national, regional or divisional headquarters <br /> facility of a company that does multistate business; and <br /> • WHEREAS, the Issuer has been requested by Wittern Realty, Inc. <br /> (the "Company ") to issue its revenue bonds pursuant to the Act for the <br /> purpose of financing the acquisition by construction or purchase of an <br /> addition to an existing building, equipment and improvements suitable <br /> for use as a manufacturing facility of approximately 30,000 square feet <br /> to be located at 8040 University Blvd. and leased to Fawn Engineering, <br /> Inc. for the manufacture of vending machines and related products (the <br /> "Project "); and <br /> WHEREAS, a Memorandum of Agreement, in the form and with the <br /> contents set forth in Exhibit A attached hereto, has been presented to <br /> the Issuer under the terms of which the Issuer agrees, subject to the <br /> provisions of such Agreement, to pursue proceedings necessary under the <br /> Act to issue its revenue bonds for such purpose; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the Issuer, <br /> as follows: <br /> Section 1. The Memorandum of Agreement, in the form and with the <br /> contents set forth in Exhibit A attached hereto, be and the same is <br /> • <br /> hereby approved and the Mayor is hereby authorized to execute said <br /> Memorandum of Agreement and the Clerk is hereby authorized to attest <br /> the same and to affix the seal of the Issuer thereto, said Memorandum <br /> of Agreement which constitutes and is hereby made a part of this <br /> Resolution to be in substantially the form, text and containing the <br /> provisions set forth in Exhibit A attached hereto. <br /> Section 2. Officials of the Issuer are hereby authorized to take <br /> such further action as may be necessary to carry out the intent and <br /> purpose of the Memorandum of Agreement. <br /> -2- <br /> • r,c�i.� AgniC 1-4c ('K 1'4RTY-si R TrcnEt . p„yycq'; - 'rc. •■C •.,L c A <br />