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HomeMy WebLinkAboutRES 900381 - Participate Fund Eco DevRESOLUTION NO1 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXASPERTAINING TO THE CITY'E PARTICIPATION IN A TEXAS CAPITAL FUND ECONOMIC DEVELOPMENT PROJECT FUNDED UNDER THE TEXAS COMMUNITY DEVELOPMENT PROGRAM OF THE TEXAS DEPARTMENT OF'COMMERCB´┐Ż WHEREAS, the City of Georgetown, Texas has been awarded a Texas Capital Fund grant in the amount of $459,480, whose purpose is to facilitate construction of Water Main and Sanitary Sewer Main extensions within the City necessary to directly serve the immediate pressing water and sewer service needs of Advance Custom Molders, Inc,, and; WHEREAS, the City of Georgetown, Texas has previously committed local funds ,for its share of the project costs in the amount of $812,993; - WHEREAS, in order to fulfill special conditions imposed by the Texas Department of Commerce and allow the project to proceed without delay, it has become necessary that the City ,increase the amount of local funds previously committed to the project to $887,358; NOW, THEREFORE; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETO;C, TEXAS THAT: The City of Georgetown; Texas hereby authorizes that additional local funds in the amount of $14,365;00 be committed to the above- described project from the City's Utility Fund Council Contingency Account, bringing the total local share in this ,project to $887;358. PASSED AND APPROVED this 14th day of August; 1990, Mayor ATTEST: Eli2abeth Gray, City Secretary APPROVED AS TO FORM Marianne Landers Banks, City Attorney