HomeMy WebLinkAboutRES 900381 - Participate Fund Eco DevRESOLUTION NO1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXASPERTAINING TO THE CITY'E PARTICIPATION
IN A TEXAS CAPITAL FUND ECONOMIC DEVELOPMENT PROJECT
FUNDED UNDER THE TEXAS COMMUNITY DEVELOPMENT PROGRAM OF
THE TEXAS DEPARTMENT OF'COMMERCB�
WHEREAS, the City of Georgetown, Texas has been awarded a Texas
Capital Fund grant in the amount of $459,480, whose purpose is to
facilitate construction of Water Main and Sanitary Sewer Main
extensions within the City necessary to directly serve the
immediate pressing water and sewer service needs of Advance Custom
Molders, Inc,, and;
WHEREAS, the City of Georgetown, Texas has previously committed
local funds ,for its share of the project costs in the amount of
$812,993;
-
WHEREAS, in order to fulfill special conditions imposed by the
Texas Department of Commerce and allow the project to proceed
without delay, it has become necessary that the City ,increase the
amount of local funds previously committed to the project to
$887,358;
NOW, THEREFORE; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETO;C, TEXAS THAT:
The City of Georgetown; Texas hereby authorizes that additional
local funds in the amount of $14,365;00 be committed to the above-
described project from the City's Utility Fund Council Contingency
Account, bringing the total local share in this ,project to
$887;358.
PASSED AND APPROVED this 14th day of August; 1990,
Mayor
ATTEST:
Eli2abeth Gray, City Secretary
APPROVED AS TO FORM
Marianne Landers Banks, City Attorney