HomeMy WebLinkAboutRES 900406 - Water/Wastewater ProjectRESOLUTION N0;
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF GEORGETOWN AUTHORIZING THE MAYOR TO SIGN "A
CONTRACT WITH THE TEXAS DEPARTMENT OF COMMERCE
TO ACCEPT FUNDING FOR A TEXAS CAPITAL FUND
ECONOMIC DEVELOPMENT PROJECT TO CONSTRUCT
WATER AND WASTEWATERLINES,
WHEREAS, the City Council of the 'City of Georgetown, Texas,
has determined that economic development is a priority goal of the
City of Georgetown, and towards fulfillment of that goal, is
coordinating economic development efforts with other local
government entities, the private sector, and State of Texas
agencies such as the Department of Commerce;
WHEREAS, a local manufacturer, Advanced Custom Molders, Inc.
(hereinafter "ACM"), will be forced to cease operations unless
wastewater service is provided to it;
WHEREAS, the cost of providing water and wastewater service to
the Industrial Zane where ACM is located is estimated to be
$1,665,809;
WHEREAS, the City Council has previously committed local funds
for its share of the project costs in the amount of $887,358 by
Resolution 900381;
WHEREAS, ACM has committed to provide funding through a
combination of cash contribution of $55;326 and land valued at
$17f813;
WHEREAS, Georgetown Railroad Co,, another property owner to be
benefitted by the water and wastewater lines, has committed to
provide funding through a combination of cash contribution of
$190,485 and land valued at $30,347;
WHEREAS, the Texas Department of Commerce has determined that
the this project qualifies for the receipt of funding in the: amount
of $457,480 from the Texas Capital Fund; and
WHEREAS, the City Council has determined that the acceptance
of this funding from the Texas Department of Commerce and the
completion of this project are in the best interest of the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, 'TEXAS, THAT:
I;
The City Council adopts the recitals set forth above as true
and correct and these are; adopted herein as if set forth verbatim;
IIk
The City Council hereby authorizes the Mayor to sign a
contract with the Texas Department of Commerce for funding of water
and wastewater lines to provide service to Advanced Custom Molders,
Inc., in the amount of $457,480 and to comply with all requirements
of the Texas Department of Commerce in the use of the funds, The
Mayor is further authorized to sign Exhibit E to the contract: on
behalf of the City, certifying obligations of the City in the
expenditure of these funds,
This resolution shall be effective immediately upon adoption
by the City Council,
RESOLVED this 28th day of August, 1990,
i
n
1. B, &mnor; ayor
ATTEST:
Elizabeth;Gray
City Secretary
APPROVED AS TO EDAM:
Marianne Landers Banks
City Attorney