HomeMy WebLinkAbout2005-11Ordinance 2005-11
Ordinance Subordinating agreement with Ground Vibration Consultants,
INC. (GVC, INC.) To A Lien By First National Bank
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Adopted: March 1, 2005
Effective: March 1, 2005
TOWN OF PULASKI
ORDINANCE 2005-11
ORDINANCE SUBORDINATING AGREEMENT WITH GROUND VIBRATION
CONSULTANTS, INC. (GVC, INC.) TO A LIEN BY FIRST NATIONAL BANK
WHEREAS, the Town Council of the Town of Pulaski has considered that the public
interest is best served and that the health, safety, and general welfare of its citizens would
be enhanced by subordinating its agreement with Ground Vibration Consultants, Inc.
(GVC, Inc.) to a first lien by First National Bank for $175,000.00 in order to facilitate an
agreement by and between GVC, Inc. and the Town of Pulaski providing for a roadway
and easement; and ~°"'
NOW, THEREFORE, be it ORDAINED that the Town Council of the Town of
Pulaski, Virginia hereby agrees to subordinate its agreement of October 12, 2004 with
GVC, Inc. to a first lien by First National Bank in the amount of $175,000.00 upon the
express condition that GVC, Inc. does convey to the Town of Pulaski the property at the
Pulaski Business Park cited in Ordinance 2005-09 in exchange for the items identified in
Ordinance 2005-09.
This Ordinance is effective upon adoption and is hereby adopted this 1St day of March,
2005, by recorded vote of the Town Council of the Town of Pulaski, Virginia as follows:
Jeffrey S. Worrell -Aye
Dan Talbert, Jr. -Aye
Bettye H. Steger -Aye
Lane R. Penn -Aye
John T. Bolen -Aye
Joel B. Burchett, Jr. -Aye
Town of Pulaski, Virginia
ATTESTED:
By:
Charles L. Wade, Mayor
e.
Patricia Cruise, Clerk of Council
I, Patricia Cruise, Clerk of Council, certify that the forgoing Ordinance
2005-11 Ordinance Suborning Agreement with ground Vibration
Consultants, INC. (GVC, INC.) To A Lien $y First National Bank is a true
and correct copy as adopted by the Pulaski Town Council at their regular
meeting on March 1, 2005.
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Patricia Cruise, Clerk~f Council
TGdordinancelcertification 2005-11