Res 133-2023 Appv. 4A Programs and Expenditures by Amend. Budget and Perform Agmt w/ Panda Biotech 11/07/2023 Resolution No. 133-2023
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC/4A) by amending
the budget and the existing performance agreement with Panda
Biotech for an additional amount not to exceed $200,000 related to the
company's operation out of their existing facility on 1-44
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 October 19, 2023, 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:
Panda Biotech Project:
• Amendment to the budget for an additional amount not to exceed
$200,000 and extending the existing performance agreement with
Panda Biotech until August 6, 2026, all related to the company's
operation out of their existing facility on 1-44.
PASSED AND APPROVED this the 7th day of November, 2023.
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MAYOR
ATTEST:
16,4L
City Clerk