Res 149-2022 WFEDC Canceling Performance Agreement -Approving New Agreement with Falls Metal Fabricat 11/01/2022 Resolution No. 149-2022
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) by canceling the
existing $16,000 performance agreement with Falls Metal
Fabrication, LLC, and approving a new $16,000 performance
agreement with same to assist in the company's planned expansion
in Wichita Falls
WHEREAS, Texas Local Gov't. Code §501.073(a) provides "The corporation's
authorizing unit will approve all programs and expenditures of a corporation and annually
review any financial statements of the corporation"; and,
WHEREAS, on September 15, 2022, 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's approval and funding
of the following programs and expenditures as described below and in said corporation's
agenda, are approved:
Falls Metal Fabrication Project:
• A total of up to $16,000 to be used for the expansion of the existing
business in Wichita Falls.
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 1st day of November, 2022.
MAYOR
ATTEST:
City Clerk