Res 080-2021 4B Sales Tax Corp Sales Tax Revenue Bonds OH -Wichita Falls, LLC 08/03/2021 Resolution No. 80-2021
Consider and approve a resolution of the Wichita Falls 4B Sales Tax
Corporation authorizing the issuance of the Corporation's sales tax
revenue bonds; approving a sales tax remittance agreement; and
enacting other provisions relating to the subject
WHEREAS, the City of Wichita Falls desires that OH-Wichita Falls, LLC, undertake
the development of property at the site of the Multi-Purpose Events Center for a full-
service convention center hotel and a future hotel; and,
WHEREAS, the 4B Sales Tax Corporation passed a resolution at its July 19, 2021
meeting, authorizing the issuance and sale of the Corporation's sales tax revenue bonds
for the purposes of acquiring, installing, constructing, and equipping a new convention
center facility in the City; and,
WHEREAS, the City Council has determined that such development is in the best
interests of the City, and that approval of the resolution of the Wichita Falls 4B sales Tax
Corporation authorizing the issuance of the Corporation's sales tax revenue bonds for
such development should be hereby approved.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The resolution of the Wichita Falls 4B Sales Tax Corporation, authorizing the
issuance of the Corporation's sales tax revenues bonds, approving a sales tax remittance
agreement, and enacting other provisions related to the subject, is hereby approved.
PASSED AND APPROVED this the 3rd day of August, 2021.
MAYOR
ATTEST:
City Clerk '