Res 119-2019 4A Agreement with Downtown Wichita Falls Development 19-20 11/5/2019
Resolution No. 119-2019
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $95,650 for a third party economic
development contract with Downtown Wichita Falls Development,
Inc.
WHEREAS, The corporation's
authorizing unit will approve all programs and expenditures of a corporation and annually
review any financial statements of the corporation
WHEREAS, on October 19, 2019, the WFEDC approved the Project listed below
and as stated in its agenda.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The Wichita Falls Economic Development Corporation
of the following programs and expenditures as described below a
agenda, are approved:
A total of $95,650 to be used for a third-party economic development
contract with Downtown Wichita Falls Development, Inc. ;
2. The funds budgeted for the aforementioned expenditure have been deemed
$95,650 promotional expenses;
3. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditures and changes thereto.
th
PASSED AND APPROVED this the 5 day of November, 2019.
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M A Y O R
ATTEST:
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City Clerk