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HomeMy WebLinkAboutRES 900478 - Fund Promote Industrial DevRESOLUTION N0. ARESOLUTION AUTHORIZMTAEMAYOR TOEXECUTE A FUNDING AGREEMENT WITH THE GEORGETOWN INDUSTRIAL, FOUNDATION FOR THE PROMOTION OF INDUSTRIAL DEVELOPMENT. WHEREAS, the City of Georgetown, Texas, ("City") and the Georgetown Industrial Foundation ("GIF") seek to promote industrial development and WHEREAS; the Georgetown Industrial Foundation has faithfully provided the service of promoting industrial development under contract with me City of Georgetown since May, 1990 and said contract expires Sept 30,1990; and WHEREAS; the promotion of economic development as provided byGIF is in compliance with the Strategic Plan for Economic Development as adopted by the City Council on July fl, 1989, in compliance with the Century Flan element for economic development; and WHEREAS; the City Council desire to extend this contract for the 1990-91 fiscal year; NOW, THEREFORE; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, THAT: Section 1. The City approves the funding agreement with the Georgetown Industrial Foundation, and coma its to providing an amount not rto exceed $ 90;(0.00 for operational services, to be paid in equal quarterly installments beginning October 1,1990; and, for an amount not to exceed $ 30;000.00 for prospect development, to be paid in equal installments on October 1, 1990 and January 1, 1991, these amounts will be paid from the Utility Fund, Electric; Department Budget, Section 2, The Mayor is authorized to execute the finding agreement and the City Secretary to attest hereto. RESOLVED this 25th day of September, 1990. CITY OF GEORGETOWN B Connor, Mayor APPROVED AS TO FORM: ATTEST: / f v � Marianne Landers Banks Elizabeth Gray City Attorney City Secretary