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RESOLUTION NO. 125-2007
AUTHORIZING THE TOWN MANAGER TO EXECUTE THE SECOND
AMENDMENT TO THE LOAN AGREEMENT BETWEEN THE TOWN OF
DANVILLE AND VALLEY PARENT PRESCHOOL
WHEREAS, Danville Municipal Code Section 32-126 establishes a Childcare Fund that
may be used by the Town of Danville to support the establishment and operation of
high quality child care services within the Town; and
WHEREAS, pursuant to that code section, the Danville Town Council on May 7, 1996,
authorized a loan from the Town Childcare Fund to Valley Parent Preschool in the
amount of $93,000, with the term ,of the loan running through December 12, 2002; and
WHEREAS, on September 17, 2002, the Danville Town Council approved a First
Amendment to the loan agreement, extending the term of the loan through December
12, 2007; and .
WHEREAS, Valley Parent Preschool is requesting a second five year extension to the
loan agreement on the existing terms; now, therefore, be it
RESOLVED, that the Danville Town Council authorizes the Town Manager to execute
the Second Amendment to the Loan Agreement between the Town of Danville and
Valley Parent Preschool as well as any other documents necessary to effectuate the
amendment.
APPROVED by the Danville Town Council at a regular meeting on November 6, 2007,
by the following vote:
AYES: Shimansky, Andersen, Arnerich, Doyle, Stepper
NOES: None
ABSTAINED: None
ABSENT: None
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AYOR
APPROVED AS TO FORM:
ATTEST:
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CITY ATTORNEY )