HomeMy WebLinkAboutRes 2009-07-06 Approving Expenditures EDC Refinancing property.pdfCITY OF ANNA, TEXAS
RESOLU·nON NO. 2009-07-06
A RESOLU·nON OF THE CITY OF ANNA, TEXAS APPROVING CERTAIN
EXPENDITURES BY THE ANNA ECONOMIC DEVELOPMeNT CORPORATION
WITH RESPECT TO THE F1NANCING OF CERTAIN REAL PROpeRTY
WHEREAS, the City Council of the City of Anna ("City Council") finds that Anna
Economic Development Corporation (the "AEDC") adopted Resolution No. 2oo9-07"()1
(EDC) authorizing the President of the AEDC to execute a finance agreement
necessary to refinance certain real property owned by the AEDC, said resolution being
attached hereto as Exhibit 1 and incorporated herein for all purposes; and
WHEREAS, under the AEDC's Bylaws, the expenditures to be made by the AEDC
under said finance agreement are subject to approval by the City Council; and
WHEREAS, the City Council fmds that the expenditures to be made by the AEDC under
said finance agreement are reasonable and necessary and should be approved by this
body;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for aU purposes as if set forth in full.
Section 2. Approva1 of Expenditures
The City Council approves the expenditures to be made by the AEDC in accordance
with the finance agreement that is the subject of AEDC Resolution No. 2oo9-07"() 1
(EDC), and further approves any and all early payments that the AEDC may determine
to make under said finance agreement provided that any such early payment(s) does
not result in any penalty to the AEDC.
PASSED AND APPROVED by the City Council of the City of Anna, Texas, this 28th
day of July, 2009.
ATTEST:
07-28-09