HomeMy WebLinkAboutRes 2016-07-202 Real Estate Sales Contract CDC-EDC CITY OF ANNA, TEXAS
RESOLUTION NO. ;:wAl �7- `1- ,
(EDC/GDC Real Estate Sales Contract)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA APPROVING AND
AUTHORIZING A PROJECT RELATED TO A REAL ESTATE SALES CONTRACT
BY THE ANNA COMMUNITY DEVELOPMENT CORPORATION AND THE ANNA
ECONOMIC DEVELOPMENT CORPORATION
WHEREAS, the Anna Community Development Corporation (the "CDC") and the
Anna Economic Development Corporation (the "EDC") were created by the City of
Anna, Texas (the "City"), in accordance with Article 5190.6, V.A.T.C.S., Section 4A
and 4B, and now operate under Texas Local Government Code, Title 12, Subchapter
C-1 (the "Act"); and
WHEREAS, the CDC and the EDC intend to purchase and use, maintain, and
dispose of a certain tract of real property described in the attached EXHIBIT E (the
"Project") found by the CDC Board of Directors and the EDC Board of Directors
(collectively, "Corporations' Boards") to promote new or expanded business
development; and
WHEREAS, the Corporations' Boards have found that the Project and the written
agreement and associated documents necessary to purchase the subject property are
in the financial interests of the CDC and EDC; and
WHEREAS, the City Council, after considering the Project and giving this resolution two
separate readings, is in agreement with the above-referenced findings of the CDC and
the EDC and by this resolution authorizes the Project; and
WHEREAS, the above-referenced purchase will be financed with sales tax revenue
obligations to be issued by the Anna CDC Corporation and paid from sales tax
revenues and other resources of the Corporations;
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF ANNA CITY COUNCIL,
THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authorization of Project
The City of Anna City Council hereby authorizes the Project and approves of the
authorized representative(s) of the CDC and EDC to enter into a Real Estate Sales
Contract (the "Agreement") attached hereto as EXHIBIT E. The City of Anna City
Council further approves of the authorized representative(s) of the CDC and EDC to
execute any associated documents necessary to consummate the purchase of the
property that is the subject of the Agreement and to use, maintain and dispose of said
property in accordance with the Act.
PASSED AND APPROVED by the Anna City Council on this 26th day of July, 2016.
APPROVED: ATTEST:
M f y
City Secretary,, Fhe L. Smith Mayor, Mike Cast
tFt tr�rrllt/l/ri
��aaa®a aaaYa I
Y
} A
9
a Y tia 4
jf .R aaa a•
Resolution No. `r 2
(EDC/GDC Real Estate Contract)