CCR1990217V
COMMON COUNCIL - CITY OF MUSKEGO
AMENDED
RESOLUTION #217-90
DELTA GROUP - STATE BANK OF HALES CORNERS
AUTHOKIZE ADDITIONAL FUNDING
I
with the D,elta Group. Inc. in which the Citv took a first WHEREAS, tpe City of Muskego has entered into a Loan Agreement
mortgage piosition on-machinery, equipment, kurniture and f
of the Delita tiroup, and a second mortgage position on the
and building, with the State Bank of Hales Corners holding
first mortbage position, and I
ixtures
land
the
WHEREAS, 4s a direct result of building construction cost
overruns, 'Delta Group, Inc. has applied for an additional
$50,000.00' loan from the State Bank of Hales Corners to cover the
additional costs, and
WHEREAS, the Finance Committee has recommended approval, and
WHEREAS, the Wisconsin Department of Development has recommended
approval.
NOW, THERElFOKE, BE IT RESOLVED that the Common Council of the
City of Mukkego, upon the recommendation of the Finance committee,^ does hereby agree to take a similar subordinated
second morltgage position on the $50,000.00 loan of the State Bank
with the f!irst mortgage.
of Hales Corners to Delta Group, Inc. with the terms consistent
BE IT FURTHER RESOLVED that the Mayor and Clerk are hereby
authorized to sign the necessary documents in the name of the
City.
DATED THIS 25th DAY OF September , 1990.
FINANCE COMMITTEE
Ald. Daniel J. Hilt
I I Ald. Edwin P. Dumke
ATTEST :
I
City Clerk
9/90
Ald. Harold L. Sanders
WHEREAS, I
with the I.
mortgage 1
of the Del
and buildi
first mort
WHEREAS, z
overruns,
$50,000.0(
additional
WHEKEAS, 1
NOW, THERE
City of Mt
Committee,
second mol
with the 1
of Hales (
DATED THI:
ATTEST :
9/90
jz
COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #217-90
AUTHORIZE ADDITIONAL FUNDING
DELTA GROUP - STATE BANK OF HALES COKNEKS
e City of Muskego has entered into a
Ita Group, Inc. in whi
sition on machinery, equipme
a Group, and a second mortgage PO n on the land
g, with the State Bank of Hales C s holding the
age position, and
elta Group, Inc. has applied
loan from the State B
costs, and
e Finance Committee ha
ORE, BE IT RESOLVED t
kego, upon the recomm
does hereby agree tdtake a similar subordinated
gage position on tP/e $50,000.00 loan of the State Bank
rners to Delta Group, Inc. with the terms consistent
rs t mortgage.
a direct result of building truction cost
/
DAY OF/ , 1990.
/ FINANCE COMMITTEE
/ Ald. Daniel J. Hilt
Ald. Edwin P. Dumke
Ald. Harold L. Sanders