Laserfiche WebLink
AGREEMENT <br /> WHEREAS, the Decatur Metropolitan Exposition,Auditorium and Office Building <br /> Authority, a unit of local government("Civic Center"),has or will be contracting with Zamboni <br /> Company USA, Inc. ("Zamboni")to purchase equipment commonly referred to as a Zamboni for <br /> use in the building owned by the Civic Center, specifically an ice rink located in the Civic Center <br /> located at#1 Gary K.Anderson Plaza, Decatur,Illinois in the amount of One Hundred Eighty <br /> Thousand($180,000); and, <br /> WHEREAS,the City of Decatur, Illinois, an Illinois municipal corporation("City"), is a <br /> tenant of the Civic Center building and has entered into an Intergovernmental Agreement and <br /> amendments with the Civic Center since it's inception and construction; and, <br /> WHEREAS, the City is willing to assist the Civic Center in the purchase and financing of <br /> the Zamboni as provided herein. <br /> NOW,THEREFORE,the City and the Civic Center agree as follows: <br /> 1. The City will pay to the Civic Center for the sole purpose of the purchase by the <br /> Civic Center of the Zamboni, the sum of One Hundred Eighty Thousand Dollars ($180,000), as <br /> required by an agreement between the Civic Center and Zamboni. Said sum will be paid to Civic <br /> Center with the express acknowledgement and agreement of the Civic Center that said sum will <br /> be paid to Zamboni only in accordance with the express terms and conditions of said agreement <br /> and with the express understanding and acknowledgement that said monies are in the nature of a <br /> loan to the Civic Center. <br /> 2. The Civic Center shall pay to the City the sum of One Hundred Eighty Thousand <br /> Dollars ($180,000) plus five percent(5%) annual interest as repayment and reimbursement for <br /> the Zamboni loan. This amount shall be paid by the Civic Center to the City in equal monthly <br /> payments for a period of eight(8) years or until the amount is paid in full to City,whichever <br /> occurs first. The monthly payments to be made by the Civic Center to the City shall be paid to <br />