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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