Res 063-2016 6/7/2016Resolution No. _63-2016__
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 $111,000 for Gatehouse Capital to
develop an Initial Period Conceptual Plan of a hotel and conference
center to be located downtown near the MPEC facilities
WHEREAS, Texas Local Gov’t. Code § 501.073(a) provides “The corporation's
authorizing unit will approve all programs and expenditures o f a corporation and
annually review any financial statements of the corporation;” and,
WHEREAS, on May 23, 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 $111,000 as
described below and in said corporation’s agenda, is approved:
Initial Period Conceptual Plan Agreement with Gatehouse Capital for
Development of Hotel and Conference Center in the amount of $111,000.
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 7th day of June, 2016.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk