Res 177-2009 12/28/2009 RESOLUTION NO. - G{
Resolution Approving The Wichita Falls Economic Development
Corporation's Program and Expenditure for the Sharp Iron Control,
LLC Project in the Amount of $625,000
WHEREAS, TEx,4s Loca� Gov'T CooE § 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 or prior to this date, the Wichita Falls Economic Development
Corporation approved the project listed below as stated in its agenda.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The Wichita Falls Economic Development Corporation's approval and funding of
the following programs and expenditures, as described above and in said corporation's
agenda, is approved:
Sharp Iron Control, LLC Project --- Proposed incentives for Sharp Iron Control
or other entity in the electrical control business (and related entities) in the
amount of up to an additional $600,000 of "costs" for Expenditures for the
creation of primary jobs in the custom electrical controls industry at 2450
Burkburnett Road or other location in Wichita Falls.
PASSED AND APPROVED this the 28th day of December, 2009.
MAYOR
ATTEST:
i Clerk
H:\ —AgendaFolders�.AgendaARCHNE�.Agendas 2009U2_28_2009_Special\LEG1 R Sharp Iron_12.28.09.doc