Res 002-2015 1/6/2015RESOLUTION NO. _02-2015_
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $300,000 for the Sealed Air Corporation,
Cryovac Division -- Iowa Park Water Reuse 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 December 11, 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 Corp oration’s approval and funding
of the following programs and expenditures , as described below and in said
corporation’s agenda, are approved:
a. Sealed Air Corporation, Cryovac Division – Iowa Park Water
Reuse Project – up to $300,000 as a forgivable loan fo r the
construction of improvements to the waste water treatment system
used by the company and for the retention of primary jobs at said
company’s facilities located in Wichita County.
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 6th day of January, 2015.
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M A Y O R
ATTEST:
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City Clerk
WFEDC REVISED FY 2015 BUDGET