Res 164-2009 12/1/2009 RESOLUTION NO. ((��-zo�q
Resolution Approving The Wichita Falls 4B Sales Tax Corporation's
Approval And Funding Of The Castaway Cove Waterpark Project In
The Amount Of $3,900,000 And Authorizing The City Manager To
Execute All Documents Necessary To Provide For The Corporation's
Obligation For Said Funds To The City
WHEREAS, TExas Loca� Gov'T 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 November 13, 2009, the Wichita Falls 4B Sales Tax
Corporation's Board of Directors approved Castaway Cove Waterpark Project to
acquire and develop the Castaway Cove Waterpark in Wichita Falls, Texas, in the
amount of $3,900,000, authorize the President of said corporation to execute all
documents necessary to obligate said corporation to the City for said funds, amend said
corporation's FY 2009-2010 budget to provide for debt service payments on said funds,
and make other findings and allocations described in the agenda for said meeting.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The Wichita Falls 4B Sales Tax Corporation's approval and funding of the
Castaway Cove Waterpark Project in the amount of $3,900,000, as described above
and in the aforementioned agenda, is approved, and the City Manager is authorized to
execute all documents necessary to obligate said Corporation to the City for said funds.
PASSED AND APPROVED this the 1 day of December, 2009.
MAYOR
ATTEST:
ity Clerk