HomeMy WebLinkAbout2019-425-06/03/2019Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-425
RESOLUTION APPROVING ASSIGNMENT OF PAYMENTS
AGREEMENT BETWEEN THE CITY OF WATERLOO, DEER
CREEK DEVELOPMENT, LLC, AND LINCOLN SAVINGS
BANK, AND AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE SAID DOCUMENTS.
WHEREAS, Deer Creek Development, LLC, entered into a Development Agreement with
the City of Waterloo, Iowa, October 13, 2006, for the provision and repayment of infrastructure in
the Greyhound Park area, and
WHEREAS, Deer Creek Development, LLC, and Lincoln Savings Bank are requesting an
assignment by Deer Creek to Lincoln Savings Bank, of all payments payable to Deer Creek, for the
provision and repayment of infrastructure in the Greyhound Park area.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the Assignment of Payments Agreement between the City of Waterloo,
Iowa, Deer Creek Development, LLC, and Lincoln Savings Bank, are hereby approved, and the
Mayor and City Clerk are authorized and directed to execute said documents on behalf of the City
of Waterloo.
PASSED AND ADOPTED this 3rd day of June 2019.
ATTEST:
/UM
Kelley Felchl
City Clerk
Quentin Hart, Mayor
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2019-425 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 3rd day of June 2019.
Witness my hand and seal of office this 3rd day of June 2019.
Kelley Felchle
City Clerk
SEAL