Res 145-2000 11/7/2000RESOLUTION NO. VA 6- a00O
RESOLUTION AUTHORIZING AN ECONOMIC DEVELOPMENT
INCENTIVE AGREEMENT FOR BLUE CROSS BLUE SHIELD OF
TEXAS TO EXPAND OPERATIONS IN WICHITA FALLS AS
RECOMMENDED BY THE WICHITA FALLS ECONOMIC
DEVELOPMENT CORPORATION AND APPROVING AN AMENDMENT
TO THE CORPORATION'S FY 2000 -2001 BUDGET; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION
WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, On October 27, 2000, the 4A Corporation Board of Directors met to
consider a memorandum of understanding with Blue Cross Blue Shield of Texas
(BCBS) to expand operations in Wichita Falls; and
WHEREAS, BCBS proposes to create a minimum of 68 new jobs above the 350
employees on board presently and make an investment of at least $900,000 in order to
expand their claims processing operations here in Wichita Falls; and
WHEREAS, The 4A Board recommends approval of the proposed MOU which
would authorize the expenditure of $136,000 to BCBS contingent upon their fulfilling
their obligations of job creation and capital investment.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. An economic development incentive agreement for Blue Cross
Blue Shield of Texas, as recommended by the Wichita Falls Economic Development
Corporation, is hereby approved.
SECTION 2. The FY 2000 -2001 Budget of the Wichita Falls Economic
Development Corporation to provide for funding in an amount not to exceed $136,000
for the economic development incentive agreement is hereby approved.
SECTION 3. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 7th day of November 2000.
/MAYOR
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