HomeMy WebLinkAboutRES 950725-Ir-KESOLUTION NO.
THROUGH THE TEXAS DEPARTMENT OF HOUSING AND
COMMUNITY AFFAIRS REAL ESTATE DEVELOPMENT PROGRAM;
AUTHORIZING THE CITY MANAGER TO ACT ON THE CITYS BEHALF
WITH REGARD TO THE SUBMISSION OF THIS APPLICATION;
AGREEING NOT TO PARTICIPATE IN PROGRAM INCOME
RECAPTURE; AND DECLARING AN EFFECTIVE DATE.
V4MREAS, the City Council has reviewed and approves an application for Advanced Cable
Services in the following amounts:
Construction $466,750
Administration $ 33250
Total $500,000
WBEREAS, the City Council has reviewed and agrees to comply with all assurances
executed in connection with the application and, if funded, the award.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
*F GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution
hereby found and declared to be true and correct, and are incorporated by reference herein a
expressly I
made a part hereof, as if copied verbatim. The. City Council hereby finds that th
resolution implements Economic Development Policy I of the Century Plan - Policy Plan Eleme
which states: "The City has a broad tax base with minimal impact from economic fluctuatio
through diversified growth and business opportunities to create jobs."; and further finds that t
adoption of this resolution is not inconsistent or in conflict with any other Century Plan Policie
as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
SECTION 2. The City Manager is authorized to execute the application and otherwise act
on the City's behalf in all matters pertaining to the submission of this application.
SECTION 3. The City Council hereby agrees not to participate in program income recapture
a&i-xill rely,?%Al pr*jrmt ixc,*7Ae tv4p_ Stztp. t* �e ix. 2 sutewiie. RPv*lvixg_1.*zx Fuit t#
be used by the State to fund future economic development awards. By agreeing to this measure, the
City understands that it will be eligible to receive as many Texas Capital Fund awards per program
year as it has eligible projects. This determination must be made at the time the original award is
Advanced Cable Services Resolution No.
Page 1 of 2
made and cannot be changed with subsequent awards for this program year or retroactively in
subsequent program years.
C)
SECTION 4. The Mayor is hereby authorized to execute, and the City Secretary to attest
this resolution on behalf of the City of Georgetown.
SECTION 5. This resolution shall be effective immediately upon adoption.
RESOLVED this qday of
1995.
ATT!ET:
Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
Marianne Landers Banks
City Attorney
Advanced Cable Services Resolution No. (?6-0 74�276---T
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THE CITY OF GEORGET"A)VN
By: LEO WOOD
Mayor