HomeMy WebLinkAboutRes 2005-08-02 SGWSC-purchase assets.pdfCITY OF ANNA, TEXAS
RESOLUTION NO. 2005-08-02
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA,
TEXAS, ACCEPTING AN AGREEMENT IN PRINCIPLE TO PURCHASE
PART OF THE ASSETS OF THE SOUTH GRAYSON WATER SUPPLY
CORPORATION AND AUTHORIZING THE CITY MANAGER AND/OR
HIS DESIGNEE TO DRAFT A CONTRACT FOR SUCH PURCHASE
FOR CONSIDERATION BY THE BOARD OF DIRECTORS OF THE
SOUTH GRAYSON WATER SUPPLY CORPORATION AND THE CITY
COUNCIL OF THE CITY OF ANNA, TEXAS
WHEREAS, the City Council of the City of Anna has reviewed and considered the terms
of an agreement in principle to purchase the assets of the South Grayson Water Supply
Corporation located within the corporate limits and extraterritorial jurisdiction of the City,
excluding a small area north of CR 427 and east of CR 426; and
WHEREAS, the City Council has determined that it is in the best interests of the City of
Anna to purchase said assets; and
WHEREAS, the City Council has determined that the purchase price for the purchase of
said assets is fair and reasonable; now therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS:
SECTION 1: The City Council of the City of Anna, Texas (the "City Council") hereby
accepts the terms of the agreement in principle with South Grayson Water Supply
Corporation (the "WSC"), including a purchase price of two million dollars ($2,000,000),
for purchase of WSC assets located within the corporate limits and extraterritorial
jurisdiction of the City.
SECTION 2: The City Council hereby authorizes the City Manager and/or his designee
to draft a contract between the City of Anna and the WSC for purchase of said assets
and to present such contract for consideration by the Board of Directors of the WSC and
the City Council.
SECTION 3: This Resolution shall take effect immediately upon its passage.
DULY PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ANNA,
TEXAS, on this 23rd day of August, 2005.
Resolution No. 2005-08-02 August 23, 2005
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APPROVED:
meth Pelham, Mayor
ATTESTED:
Napa Wilkison, City Secretary
Resolubon No. 2005-08-02 August 23, 2005
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