HomeMy WebLinkAbout2002-495-08.12.2002 LrC; �
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5 kyfIlLs Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Ireet, Waterloo, Iowa.
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f--; r aj RESOLUTION NO. 2002-495
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' RESOLUTION APPROVING GRANT WITH THE R.J.
o CD tri MCELROY TRUST AND DIRECTING EXECUTION OF SAID
C' GRANT BY MAYOR.
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ca WHEREAS, the R.J. McElroy Trustees have approved a grant in
.--the amount of $2, 500, 000. 00 for the Riverfront Renaissance
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WHEREAS, the above said grant must be used only for
facilities for youth within the proposed Public Indoor Sports
Complex, and
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WHEREAS, said grant is contingent upon full funding of all
other components of the Riverfront Renaissance Project being
funded by Vision Iowa, including passage of the August 20, 2002
local option tax referendum, and
WHEREAS, the R.J. McElroy Trust will make payments over
several years, with first payment no earlier than 2003, and
WHEREAS, if the entire Riverfront Renaissance Project is not
approved and funded by March 31, 2003, the grant will be
nullified.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the R.J. McElroy Trust grant dated August
12, 2002, in the amount of $2, 500, 000. 00, to be used for
facilities for youth within the public indoor sports complex of
the Riverfront Renaissance Project, by and between the R.J.
McElroy Trust and the City of Waterloo, Iowa, be and the same is
hereby approved, and the Mayor authorized to execute the same in
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 12th day of August, 2002 .
John off, Mayor
ATTEST:
Nancy Ecker City Clerk