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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