HomeMy WebLinkAboutRES 920094RESOLUTION NO. Ot
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
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ORGETOWN, TEXAS, THAT. -
rhe facts and recitations contained in the preamble of this resolution are hereby found and
declared to be true and correct, and are incorporated by reference herein and expressly made a
part hereof, as if copied verbatim. The City Council hereby finds that this resolution implements
Economic Development Policy 1 of the Century Plan - Policy Plan Element, which states: "The
City of Georgetown shall encourage diversified growth, promote opportunities to create jobs,
broaden the tax base, and minimize the impact of economic fluctuations"; and has found that this
action is not inconsistent or in conflict with any other Century Plan Policies, as required by
Section 2.03 of the Administrative Chapter of the Policy Plan.
The City Council has reviewed and hereby approves an application for:
Policy Resources Recycling, Inc. working capital of $92,000.00
grant administration of $8,000.00
and agrees to comply with all assurances executed in connection with the application, and if
funded, the award.
Resolution No.
Poly Resources Recycling, Inc.
Governor's Special Assistance Fund
Page 1 of 2 Pages
The Mayor is hereby authorized and directed to act on the City's behalf in all matters pertaining
to this application.
The City Council has reviewed and hereby agrees not to participate in program income recaptu-"
and will return all program income to the State to be placed in a statewide Revolving Loan Fu
to be used by the State to fund future economic development awards. By agreeing to th
measure, the City understands that it will be eligible to receive as many Texas Capital Fund a
Governor's Special Assistance Fund for Small and Minority Businesses awards per program ye
as it has eligible projects. This determination must be made at the time the original award
made and cannot be changed with subsequent awards for this program year or retroactively
subsequent program years.
This resolution shall be effective immediately upon adoption.
RESOLVED this day of 1992, by the following vote:
Attest:
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Elizabeth Gray, CityiSecretary
Marianne Landers Banks
City Attorney
Resolution No. -.
Poly Resources Recycling, Inc.
Governor's Special Assistance Fund
Page 2 of 2 Pages
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W. Y. Connor, Mayor