Res 003-2025 4A Budget Amendment for Purchase of Mineral Rights as WF Business Park 01/07/2025 Resolution No. 03-2025
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (4A) and amending the
budget to include funding up to $1,000,000 to facilitate the
corporation's purchase of mineral rights at the Wichita Falls Business
Park
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 December 19, 2024, the Wichita Falls Economic Development
Corporation 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, in a total amount not to exceed $1,000,000
as described below and in said corporation's agenda, is approved:
$1,000,000 to facilitate the corporation's purchase of mineral rights at
the Wichita Falls Business Park.
2. The current fiscal year budget of the Wichita Falls Economic Development
Corporation is amended to provide for the aforementioned expenditures and changes
thereto.
PASSED AND APPROVED this the 7th day of January 2025.
MAYOR
ATTEST:
City Clerk