HomeMy WebLinkAbout2019-842-11/04/2019 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-842
RESOLUTION APPROVING DEBT SATISFACTION AND
PROPERTY TRANSFER AGREEMENT WITH CEDAR
VALLEY TECH WORKS, INC. AND CITY OF WATERLOO
FOR THE FORGIVENESS OF $1.425 MILLION IN OWED
FUNDS, IN EXCHANGE FOR PROPERTY TRANSFER OF
TECH WORKS CAMPUS OUTLOTS, AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA, that the Debt Satisfaction And Property Transfer Agreement dated November 4, 2019,
between Cedar Valley Tech Works, Inc. and City of Waterloo, for the forgiveness of $1.425
million in owed funds, in exchange for property transfer of Tech Works Campus out-lots, is
hereby approved, and the Mayor and City Clerk are authorized and directed to execute the same
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 4th day of November 2019.
fQuentin Hart, Mayor
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ATTEST:
Kelley Felc
City Clerk