Res 126-2014 11/18/2014RESOLUTION NO. 126-2014
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $1,200,000 for the Alcoa Power and
Production – Wichita Falls Naturally Engineered Water Treatment
(NEWT) System 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 statement s of the corporation”; and,
WHEREAS, on October 21, 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 Fal ls 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. Alcoa Power and Production – Wichita Falls Casting Plant,
Naturally Engineered Water Treatment (NEWT) Project – up to
$1,200,000 as a forgivable loan for the construction and operation
of reverse osmosis, natural water treatment system.
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditure s and changes thereto.
PASSED AND APPROVED this the 18th 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