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06-98-Resolution-Approving Application for Independent Environmental Services, Inc. IESI-04/20/1998RESOLUTION No. 06-98 A RESOLUTION APPROVING AN APPLICATION FOR FUNDING THROUGH THE TEXAS DEPARTMENT OF ECONOMIC DEVELOPMENT - TEXAS CAPITAL FUND BE IT RESOLVED by the City Council of the City of Sanger as follows: SECTION 1. The City has reviewed and hereby approves an application for: Award for Independent Environmental Services, Inc. (IESI), 3333 N. Beach St., Haltom City, Texas; for infrastructure improvements including water, sewer, and street, to improve Utility Road.............$610,000 Administration of Grant..........................................................$50,000 SECTION 2. The City 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 the State to be placed in a statewide Revolving Load 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. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Sanger held on April 20, 1998, by the follow vote: AYES: 5 NAYS: 0 ABSENT: o J n .Coker III, Mayor, City of Sanger Rosalie Cravek Cifif.;Secretan'