HomeMy WebLinkAboutRES 961219-D - 4B CorporationRESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, DEFINING THE PURPOSE OF THE
GEORGETOWN 4B CORPORATION, AND AUTHORIZING THE
MAYOR TO ACT AS THE CITY'S AUTHORIZED REPRESENTATIVE
IN ALL MATTERS PERTAINING TO THIS MATTER.
WHEREAS, the City of Georgetown has recruited Power Computing Corporation to
locate in Georgetown; and
WHEREAS, the City has utilized a 4B Corporation as a part of its incentive package;
and
WHEREAS, the Georgetown 4B Corporation served as a catalyst to enable the Expo
Center to be developed through the use of a County Development District funded by sales
generated by Power Computing Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
resolution implements the following policy of the Century Plan - Policy Plan Element:
Economic Development Policy End 1.0, which states: "Georgetown's economy is
self-sustaining though diversified growth, a broad tax base with minimal impact
from economic fluctuation, enhanced business opportunity and job creation."
SECTION 2. That the present Georgetown 4B Corporation may only be used for the
Power Computing Corporation facility as outlined in the agreement.
SECTION 3. That following the completion of the projects noted above, the
Georgetown 4B Corporation shall be dissolved.
SECTION 4. The Mayor is hereby authorized to execute and the City Secretary to attest
thereto this resolution.
4B Corporation Resolution No.
Page 1 of 2 Pages
SECTION 5. This resolution shall be effective immediately upon adoption.
RESOLVED this 19th day of December, 1996.
Approved:
Leo ood, Mayor
Approved as to form:
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Marianne Landers Banks, City Attorney
4B Corporation Resolution No.
Page 2 of 2 Pages
Attest:
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Sandra D. Lee, City Secretary