HomeMy Public PortalAboutORD11229 BILL NO. 89-20
SPONSORED BY COUNCILMAN SCHEULEN
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE AN AMENDMENT TO THE MODAG LOAN
AGREEMENT WITH JEFFERSON CITY MANUFACTURING, INC.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI,
AS FOLLOWS:
Section 1. The Mayor and Clerk are hereby authorized and
directed to execute an amendment to the MoDag Loan Agreement with
Jefferson City Manufacturing, Inc.
Section 2. The agreement shall be substantially the same in
form and content as that agreement attached hereto as Exhibit A.
Section 3. This Ordinance shall be in full force and effect
from and after the date of its passage and approval.
Passed l�icP9 Approved
idi fficer ayor
ATTEST:
City Clerk
AMENDMENT TO AGREEMENT
MW Come now Jefferson City Manufacturing Company, Inc. , a
Missouri Corporation, hereinafter referred to as "Company", and
the City of Jefferson, Missouri, a constitutional Charter City,
hereinafter referred to as "City", and enter into this amendment
to a certain agreement dated October 21, 1985,
WITNESSETH:
WHEREAS, Company and City entered into an agreement dated
October 21, 1985, involving certain loan funds and security
interests and
WHEREAS, It is in the interest of both parties to ensure the
continued viability of the Company, and
WHEREAS, Company has requested certain modifications be made
to the agreement as they pertain to the security and payment
schedule.
NOW, THEREFORE, in consideration of the following terms, covenants
and conditions, and the continued repayment of the loan funds, the
parties agree as follows:
1. The schedule of payments shall be amended as per the attached
Exhibit A.
Ahk
wo IN WITNESS WHEREOF, the parties have set their hands on this
day of May, 1989.
dam/
4ci ferson Jefferson Ma ufacturing
af erson
Company, I c.
ATTEST: ATTEST:
City Clerk Secre r
r
FY Month Mth-Year Principle Interest Payment Interest Principal
Balance Rate Amount
Paid Thru 4-89 143,568.27 27,249.98 116,318.29
88.89 42 5.89 88,431.71 0.625% 552.70 552.70 0.00
88-89 43 6-89 88,431.71 0.625% 552.70 552.70 0.00
88-89 44 7-89 88,431.71 0.625% 552.70 552.70 0.00
88-89 45 8-89 88,431.71 0.625% 552.70 552.70 0.00
88-89 46 9-89 88,431.71 0.625% 552.70 552.70 0.00
88-89 47 10-89 88,431.71 0.625% 552.70 552.70 0.00
89-90 48 11-89 88,431.71 0.625% 552.70 552.70 0.00
89-90 49 12-89 88,431.71 0.625% 552.70 552.70 0.00
89-90 50 01-90 88,431.71 0.625% 552.70 552.70 0.00
89-90 51 02-90 88,431.71 0.625% 552.70 552.70 0.00
89-90 52 03-90 88,431.71 0.625% 4,950.63 552.70 4,397.93
89-90 53 04-90 84,033.78 0.625% 4,950.63 525.21 4,425.42
89-90 54 05-90 79,608.36 0.625% 4,950.63 497.55 4,453.08
89-90 55 06-90 75,155.28 0.625% 4,950.63 469.72 4,480.91
89-90 56 07-90 70,674.37 0.625% 4,950.63 441.71 4,508.92
89-90 57 08-90 66,165.45 0.625% 4,950.63 413.53 4,537.10
89-90 58 09-90 61,628.35 0.625% 4,950.63 385.18 4,565.45
89-90 59 10.90 57,062.90 0.625% 4,950.63 356.64 4,593.99
AM 90-91 60 11-90 52,468.91 0.625% 4,950.63 327.93 4,622.70
TW 90-91 61 12-90 47,846.21 0.625% 4,950.63 299.04 4,651.59
90-91 62 01-91 43,194.62 0.625% 4,950.63 269.97 4,680.66
90-91 63 02-91 38,513.96 0.625% 4,950.63 240.71 4,709.92
90-91 64 03-91 33,804.04 0.625% 4,950.63 211.28 4,739.35
90-91 65 04-91 29,064.69 0.625% 4,950.63 181.65 4,768.98
90-91 66 05-91 24,295.71 0.625% 4,950.63 151.85 4,798.78
90-91 67 06-91 19,496.93 0.625% 4,950.63 121.86 4,828.77
90-91 68 07-91 14,668.16 0.625% 4,950.63 91.68 4,858.95
90-91 69 08-91 9,809.21 0.625% 4,950.63 61.31 4,889.32
90-91 70 09-91 4,919.89 0.625% 4,950.64 30.75 4,919.89
90-91 10-91 0.00
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243,157.25 38,407.25 204,750.00
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