Res 147-2007 10/2/2007 RESOLUTION NO. 147-2007
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, APPROVING AN ECONOMIC DEVELOPMENT
INCENTIVE AGREEMENT WITH OLD DOMINION FREIGHT LINE, INC.;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, The Wichita Falls Economic Development Corporation (WFEDC)
met on September 20 to consider an economic development incentive agreement with
Old Dominion Freight Line, Inc.; and
WHEREAS, The economic development incentive agreement requires the
WFEDC to extend certain utilities totaling $60,320 upon closing of the land sale; and
WHEREAS, Old Dominion Freight Line, Inc. will pay the WFEDC $150,000 for
the land.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The WFEDC 2006-2007 Budget is hereby amended in the amount
of $60,320 to fund an economic development incentive agreement with Old Dominion
Freight Line, Inc.
SECTION 2. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the day of 2" day of October, 2007.
MAYOR
ATTEST:
�ty Clerk