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• RESOLVED, that the City Council hereby ratifies, con- <br />firms and approves the action of D. Cole Hendrix, City Manager, <br />in executing and delivering, on behalf of the City, the <br />Preliminary Development Agreement dated August 1, 1986 by and <br />among the Authority, the City and Jefferson, a copy of which <br />shall be appended to the minutes of this meeting; and <br />RESOLVED, that if the UDAG application is approved and <br />the City receives the $1,140,000 grant, the City Manager shall be <br />and hereby is authorized to enter into a loan agreement with <br />Jefferson on the terms and conditions set forth in such <br />Preliminary Development Agreement. <br />• <br />• <br />Approved by Council <br />August 25, 1986 <br />C erk of Council <br />-2- <br />