City of Racine - File #: Res.06-7110

• File #: Res.06-7110
• Version: A
• Name: CITY LOAN GUARANTEE TO SCHMIDT INDUSTRIAL TRUCK
• Type: Resolution
• Status: Passed
• File created: 7/5/2006
• In control: City Attorney's Office
• Final action: 7/5/2006
• Title: CITY LOAN GUARANTEE TO SCHMIDT INDUSTRIAL TRUCK RESOLVED, that the City of Racine guarantee a business loan from the Racine County Economic Development Corporation to Schmidt Industrial Truck, Inc., said guarantee not to exceed $100,000.00 for a term of five years. FURTHER RESOLVED, that appropriate City officials be authorized to execute a Limited Guaranty of Specific Transaction documenting said guarantee. FISCAL NOTE: There are sufficient funds available in the City Industrial/Economic Development fund.
• Sponsors: James Spangenberg
• Related files: 06-1936

Date	Ver.	Action By	Action	Result
7/5/2006	A	Common Council	Adopted	Pass

Sponsor

Alderman Spangenberg

Title

CITY LOAN GUARANTEE TO SCHMIDT INDUSTRIAL TRUCK

RESOLVED, that the City of Racine guarantee a business loan from the Racine County Economic Development Corporation to Schmidt Industrial Truck, Inc., said guarantee not to exceed $100,000.00 for a term of five years.

FURTHER RESOLVED, that appropriate City officials be authorized to execute a Limited Guaranty of Specific Transaction documenting said guarantee.

FISCAL NOTE: There are sufficient funds available in the City Industrial/Economic Development fund.