HomeMy WebLinkAboutResolution #3357RESOLUTION NUMBER
3357
RESOLUTION TO ACCEPT PAYMENT IN FULL OF LOAN BETWEEN THE CITY
OF CANTON AND ACTIVE ENGLISH INFORMATION SYSTEMS, INC.
WHEREAS, The City of Canton approved a loan agreement March 6, 1988 with Active English
Information Systems, Incorporated from the City's Enterprise Zone Fund for the amount of
$100,000, such funds made available through the City's loan agreement with the U.S. Department
of Health and Human Services; and,
WHEREAS, Active English Information Systems Incorporated has met all terms of said loan
agreement; and,
WHEREAS, Active English Information Systems, Incorporated made its final principal and
interest payment on said loan on May 28, 1996 to the City of Canton; and,
WHEREAS, Active English Information Systems, Incorporated has paid $100,000 in principal
plus interest.
NOW, THEREFORE, be it resolved by the City Council of the City of Canton, Fulton County
Illinois as follows:
1. That the Canton City Council hereby fords the foregoing recitals to be fact.
2. That any and all penalties have been or maybe assessed are waived.
3. That said loan agreement is hereby declared paid in full.
4. That this Resolution shall be in full force and in effect immediately upon its passage by
the City Council of the City of Canton, Fulton County, Illinois and approved by the Mayor
thereof.
Passed by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this
17th day of Decembex 1996, upon a roll call vote as follows:
Ayes: Aldermen May, Nidiffer, Phillips, Sarff, Hartford, Molleck,
Nays: None .
Absent: Aldermen Shores , Meade .Approved:
onald E. Edwards, Mayor
Attest:
ancy Whit s, City Clerk