Res 124-2014 11/4/2014RESOLUTION NO. 124-2014
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $310,364 for the Lone Star Milk
Transportation Project and up to $688,500 fo r the Safety Design USA,
Inc. 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 t he corporation”; and,
WHEREAS, on October 9, 2014, the WFEDC approved the Projects 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:
a. Lone Star Milk Transportation Project – proposed incentives for
Lone Star Milk Transportati on in an amount up to $310,364 of
costs for expenditures for the retention and recruitment of primary
jobs at its proposed facilities in Wichita Falls.
b. Safety Design USA, Inc. Project -- proposed incentives for
Safety Design USA, Inc. in an amount up to $688,500 of costs for
expenditures for the retention and recruitment of primary jobs at
its proposed facilities 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 4th day of November, 2014.
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M A Y O R
ATTEST:
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City Clerk
WFEDC REVISED FY 2015 BUDGET