HomeMy WebLinkAbout2011-06
Approval Of a USOA Rural Business Enterprise Grant (RREG) fortracey Harriman antl Coffee Buy IM1e Bpok, LLC
in IM1e Town Of Pulaski, Virginia.
WHEREAS, [be Town Council direttetl at i6 Legislative Session on May 3, 3011 Nat IM1e Town Manager, Town
AlNrney, antl staff prepare IM1e appropriate tlocumen[z to make a loan from i(s tlesignated Rural BuAness
Enterprise Granl funtls awartletl to IM1e Town on August 31, 2009;
W HEREgS, Ne Town Council M1as tleterminetl IM1e[ making sucM1 a loan as requeAetl by Ne applifan[ is in IM1e
best interes[ofNebusNess climate antl Necitizens Of[M1e Town of Pulaski antl is in keeping witb IM1e gen ral
outlines of Ne Rural Enterprise Granf program t0 encourage antl retsn small business In IM1e community; e
ANO WHEREAS, IM1e prln[ipal Ownep Ms. Hdfriman, antl Coffee BVy Ne Book LLC M1ave a su<[essfVl remrtl Of
business acumen antl of repayment in advance of a prenous loan;
THEREFORE BE IT HEREBY RESOLVED by [ne Town Councll of Ne Town of Pulaski sl[tlng In legulatlve session
May 1], 2 WS [M1at a loan shall be ewtentletl N IM1e applicant antl gran[etl on Ne fallowing terms:
1. ine personal signature antl guarantee of Tracey Harriman tl/b/a Coffee BUy the BOOk LLC Ona
Promissory No[e not Io exceed $20, Wfl.
z. interest anon be aaerome mwa at z~.
B. There win bea cost lien pa meinvmmry. accpaats receivame, equipment,mmiture, aae rxmrea
aow ownea or berearter acgmree.
4. TM1e loan is repayable Duero periotl of [wenry yea s.
5. HaiaN inzuranceon Ne collateral6 requiretl.
TM1is rewlu[ion Is effe[[ive upon atloption antl is M1ereby atloptetl [bk 1]'" tlay of May 2011 by Ne tluly
rerortletl vote of IM1e Town Council of the Town of Pulaski, Virginia as follows:
Morgan P. Welker -Aye
H.M. KItltl .pye
Uavitl LClark -qye
ATTEST:
/J~= ~
Patrlda Cruise, Clerk of Councll i
Joel B. BUrcnett, lc -pYe
Robertq. BOpp -qye
Iosepn K, GOOtlman Aye
THE TO W N OF PUTASKI, V/IRG/INIA
BY / '/
eYeYS~I, Mayor