HomeMy WebLinkAbout093-02 RESOLUTION NO. 93-2002
AUTHORIZING THE TOWN MANAGER TO EXECUTE AN AMENDMENT TO
THE LOAN AGREEMENT BETWEEN THE TOWN OF DANVILLE AND VALLEY
PARENT PRESCHOOL
WHEREAS, Danville Ordinance 89-2 establishes a mechanism whereby the Town of
Danville can encourage and support the establishment and maintenance of high quality
childcare services in Danville; and
WHEREAS; pursuant to such ordinance, the Danville Town Council on May 7, 1996,
authorized the Town Manager to execute a loan agreement and promissory note for a
$93,000 loan to Valley Parent Preschool from the Childcare Fund to cover a shortfall in
renovation costs, with the term of the loan running through December 12, 2002; and
WHEREAS, Valley Parent Preschool continues to provide high quality childcare services
within the Town of Danville; and
WHEREAS, Valley Parent Preschool is requesting an additional five-year extension of the
loan under the same terms; now, therefore, be it
RESOLVED, that the Danville Town Council authorizes the City Attorney to prepare and
the Town Manager to execute an amendment to the loan agreement and a new promissory
note with the term of the loan running through December 12, 2007.
APPROVED by the Danville Town Council at a regular meeting on September 17, 2002, by
the following vote:
AYES: Arnerich, Doyle, Greenberg, Shimansky ~
ABSTAINED: None .~ ,.," ~
ABSENT: Waldo
VICE MA~I~' ~-~ - k_~
APPROVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY CLERK