08-10-00-Resolution-Funding Application Texas Department of Housing and Community Affairs Wal-Mart-08/07/2000RESOLUTION NO.08-10-001 i 4 DOVE] 10 NW PROIN ,
BE IT RESOLVED by the City Council %J the City of Sanger, Texas as follows:
SECTION 1.
The City Council of Sanger, Texas hereby approves an application for:
Infrastructure Improvements to benefit Wal-Mart, Inc. $1,4301P000.00
mini Adstration Grant 70A00.00
L50000.00
SECTION 2.
The City of Sanger hereby agrees to comply with all assurances executed in connection with
the application and, if funded, the award.
SECTION 3.
The Mayor is hereby authorized and directed to act on the City's behalf in all matters
pertaining to this application.
SECTION 4.
The City has reviewed and hereby agrees not to participate in program income recapture and
will return all program income to the state to be placed in a statewide Revolving Loan Fund
to 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 made and cannot be changed with subsequent awards for this
program year or retroactively in subsequent program years.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Sanger,
Texas held August 7 , 2000 by the following vote:
Ayes: 5
ATTEST:
Rosalie Chavez
City Secretary
Naves: o
Sanger, Texas
Absent: o