Res 126-2000 9/19/2000RESOLUTION NO. alto - iYrY)
RESOLUTION AUTHORIZING AN ECONOMIC DEVELOPMENT
INCENTIVE AGREEMENT FOR UNITED ELECTRIC COMPANY AS
RECOMMENDED BY THE WICHITA FALLS ECONOMIC
DEVELOPMENT CORPORATION AND APPROVING AN
AMENDMENT TO THE CORPORATION'S FY 1999 -2000 BUDGET;
FINDING AND DETERMINING THAT THE MEETING AT WHICH
THIS RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, it is the desire of the City Council of the City of Wichita Falls to
promote the development of new and expanding businesses within its corporate
boundaries; and,
WHEREAS, the execution of an economic development incentive agreement for
United Electric Company will provide new jobs and other benefits for the citizens of
Wichita Falls; and,
WHEREAS, it is the desire of the Wichita Falls Economic Development
Corporation to amend its 1999 -2000 budget to provide funding for the economic
development incentive agreement.
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 United Electric
Company, as recommended by the Wichita Falls Economic Development Corporation,
is hereby approved.
SECTION 2. The FY1999 -2000 budget of the Wichita Falls Economic
Development Corporation to provide for funding in an amount not to exceed $30,000 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 19th day of September 2000.
Q,t�� zc't�-
AYOR
ATTEST:
City Clerk