Res 051-2016 5/17/2016Resolution No. _51-2016__
Resolution approving the programs and expenditures of the Wichita
Falls 4B Sales Tax Corporation Board of Directors and amending the
budget to include funding up to $250,000 for assistance with the cost
of a fire suppression system at 728 Indiana which is required for a
residential development project; and funding up to $65,000 for
assistance with the cost of a fire suppression system at 922 Indiana
which is required for a grocery store and soda fountain development
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 April 25, 2016, the Wichita Falls 4B Sales Tax Corporation
(4BSTC) 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 4B Sales Tax Corporation’s approval and funding of the
following programs and expenditures, in a total amount not to exceed $315,000 as
described below and in said corporation’s agenda, is approved:
Fire Suppression System Assistance for 728 Indiana in the amount of
$250,000; and
Fire Suppression System Assistance for 922 Indiana in the amount of
$65,000.
2. The current fiscal year budget of the 4B Sales Tax Corporation is amended to
provide for the aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 17th day of May, 2016.
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M A Y O R
ATTEST:
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City Clerk