03-5962 Agr Amend CDBGRESOLUTION NUMBER 03-5962
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE A SECOND
AMENDMENT TO GRANT/LOAN AGREEMENT AND RELATED DOCUMENTS AMONG
A -PLUS GALVANIZING, INC., BEANIES, INC., AND THE CITY OF SALINA, KANSAS.
WHEREAS, A -Plus Galvanizing and the City of Salina entered into a Grant/Loan
Agreement dated March 15, 1999; and
WHEREAS, paragraph 6 of the Grant/Loan Agreement provided that the obligations
set forth in paragraphs 4 and 5 of the Grant/Loan Agreement were to be secured by a first mortgage
and described the real estate to be subject to the mortgage; and
WHEREAS, the Corporation and the City entered into a First Amendment to
Grant/Loan Agreement dated February 29, 2000, by which paragraph 6 of the Grant/Loan
Agreement was amended to substitute a different tract of real estate to be subject to the mortgage;
and
WHEREAS, the parties wish to substitute two tracts of real estate owned by the
Guarantor to be subject to a substitute mortgage in the amount of the unpaid balance under the loan
component of the Grant/Loan Agreement followed receipt by the City of the August 31, 2003 loan
payment. SO NOW THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina, Kansas:
Section 1. That the Mayor is hereby authorized to execute a Second Amendment to
Grant/Loan Agreement among A -Plus Galvanizing, Beanies, Inc. and the City of Salina, subject to
the terms and conditions of the agreement, and to execute any related documents necessary to
implement the Second Amendment for the Grant/Loan Agreement.
Section 2. That the City Clerk is hereby directed to file the original agreement and retain
according to the City of Salina Records Management Policy.
Section 3. That this resolution shall be in full force and effect from and after its
adoption.
Adopted by the Board of Commissioners and signed by the Mayor this 28h day of July,
2003.
�.Vay
Alan E. i kaor
(SEAL)
ATTEST:
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Lieu Ann Nicola, City Clerk