Res 053-2014 5/20/2014
RESOLUTION NO. 53-2014
Resolution approving the programs and expenditures of the Wichita Falls
Economic Development Corporation (WFEDC) and amending the budget to
include up to $116,000 for the Lone Star Milk Producers Recruitment Project
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 April 15, 2014, 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, is
approved:
Lone Star Milk Producers Recruitment Project --- Proposed incentives for Lone
Star Milk Producers and related entities in the amount of up to $116,000 of costs
for expenditures for the retention and recruitment of primary jobs at said
company’s proposed headquarters facility 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 20th day of May, 2014.
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M A Y O R
ATTEST:
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City Clerk