04-98-Resolution-Texas Department of Housing and Community Affairs Funding Application-04/20/1998RESOLUTION No. 04-98
A RESOLUTION APPROVING AN APPLICATION FOR FUNDING
THROUGH THE TEXAS DEPARTMENT OF HOUSING AND
COMMUNITY AFFAIRS TEXAS CAPITAL FUND INFRASTRUCTURE
GRANT PROGRAM.
BE IT RESOLVED by the City Council of the City of Sanger, Texas as follows:
SECTION 1.
The City Council has reviewed and hereby approves an application for:
Infrastructure Grant Funds to benefit Gravity Enterprises $ 6165000400
Administration Grant 35,000400
$6519000.00
SECTION 2.
The City Council has reviewed and 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 Council has reviewed and hereby agrees not to participate in program income
recapture and will return all program income to a 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 by order of the City Council of the
the 20th day of April , 1998.
ATTEST
u
Rosalie Chavez, City
ohn W. Coker, III
on this