Res 124-2016 12/20/2016Resolution No. __124-2016__
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 $309,000 for a 120-day Extension
Agreement with Gatehouse Capital for Professional Services related
to development of a full-service hotel and conference center; and to
grant a maximum amount of $53,800 as partial funding of the City’s
Falls’ Bridge and Bypass Trail 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 December 7, 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 $362,800 as
described below and in said corporation’s agenda, is approved:
120-Day Extension Agreement with Gatehouse Capital in the maximum
amount of $309,000.
Grant to the City of Wichita Falls a maximum amount of $53,800 as partial
funding of the City’s Falls’ Bridge and Bypass Trail Project
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 20th day of December, 2016.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk