Res 176-2009 12/28/2009 RESOLUTION NO.
Resolution Approving The Wichita Falls Economic Development
Corporation's Program and Expenditure for the Bedding
Manufacturer Project in the Amount of $11,900,000
WHEREAS, TExas LocA� Gov'r Co�E § 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, subject to receipt of the secured personal obligation of Mr.
Rossdeutscher, reviewed by an independent accounting firm to the satisfaction of the
President of the WFEDC and the Mayor:
Bedding Manufacturer Project --- Proposed incentives for bedding
manufacturer in the amount of up to $9,900,000 of "costs" for land, buildings,
equipment, and other expenditures for the creation of primary jobs in the bedding
research, manufacturing, and distributing industry in Wichita Falls.
PASSED AND APPROVED this the 28th day of December, 2009.
MAYOR
ATTEST:
�
C Clerk
H:\ —AgendaFolders�.4gendaARCHIVE�.4gendas 2009\12_28_2009_Special\LEG2 R Bedding Mfr_12.28.09.doc