RES 16-68 - Laserfiche WebLink

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Documents to which the City is a party on behalf of the City and to carry out, on behalf of the City, the City's obligations thereunder. In the event of absence or disability of the officers, any of the Documents authorized by this Resolution to be executed may be executed without further act or authorization of the Council by any duly designated acting official, or by such other officer or officers of the City as, in the opinion of the City Attorney, may act in their behalf. In accordance with Section 116J.994, Subd. 3(d) of the Business Subsidy Act, the City further approves a Loan Agreement between the Economic Development Authority of the City of Elk River (the "EDA") and the Owner for the provision of a forgivable loan in the amount of $200,000 from the EDA to the Owner, and consents to the EDA entering into the Loan Agreement and related documents with the Owner. 5. Finalizing Documents. The approval hereby given to the Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the City and by the officers authorized herein to execute said Documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the appropriate officers of the City herein authorized shall be conclusive evidence of the approval of such Document in accordance with the terms hereof. 6. Conflicting Provisions. In the event of a conflict between the content of this resolution and the Documents, the terms of the Documents shall prevail. 7. Effective Date. This resolution is effective upon execution in full of the Abatement Agreement. Approved by the City Council of the City of Elk River this 17t1 day of October, 2016. 1��W� Jo J. D etz, M or ATTEST: Tina Allard, City Clerk 488017v21SB ELI 85-45 3