Resolutions-2026-014

Section 3. A copy of this Resolution shall be filed in the offices of the Johnson County Auditor to evidence the Advance. Pursuant to Section 403.19 of the Code of Iowa, the City Clerk is hereby directed to certify, no later than December 1, 2026, the original amount of the Advance. Section 4. Pursuant to the factors listed in Chapter 15A, the City Council hereby finds that: a) The Project will add diversity and generate new opportunities for the Tiffin and Iowa economies; and b) The Project will generate public gains and benefits, particularly in the creation and retention of jobs and income, which are warranted in comparison to the amount of the proposed Grant. Section 5. The City Council further finds that a public purpose will reasonably be accomplished by making the Grant in connection with the Project. Section 6. The Grant in an amount not to exceed $87,000, is hereby approved, subject to the terms and conditions set out in the Economic Development Grant Agreement (the "Agreement") to be entered into by Company and the City. The City Administrator, with advice from legal counsel to the City, is hereby authorized and directed to prepare any additional documentation and to make such changes to the Agreement as are deemed necessary to carry out the purposes of this Resolution. The Mayor and the City Clerk are hereby authorized to execute such documents as may be necessary to implement the Grant approved herein, including the Agreement, in substantially the form as has been presented to this City Council. Section 7. All resolutions or parts thereof in conflict herewith, are hereby repealed, to the extent of such conflict. Passed and Approved this March 3, 2026. [Signature] Mayor Attest: [Signature] City Clerk