HomeMy WebLinkAbout7-22-2002-12.04 - Resolution - 07/22/2002 RESOLUTION NO. 7 -22- 2002 -12.04
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, PROVIDING A GRANT TO THE BRYAN /COLLEGE STATION ECONOMIC
DEVELOPMENT CORPORATION FOR A GRANT TO LYNNTECH, INC. AS AN
ECONOMIC DEVELOPMENT INCENTIVE FOR EXPANSION.
WHEREAS, the City Council has developed an economic incentive program for the express
purpose of attracting new business and expansion of existing business and industry to the
community;
WHEREAS, the City Council is authorized by SECTION 380, TEXAS LOCAL GOVT. CODE, to
provide for grants of public money to promote local economic development and to stimulate
business in the City of College Station; and
WHEREAS, the City Council is actively seeking economic development prospects and new jobs
in College Station; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council hereby authorizes the grant of funds in an
amount not to exceed $50,000.00, to BRYAN /COLLEGE STATION
ECONOMIC DEVELOPMENT CORPORATION for the purpose of
providing a cash incentive to LYNNTECH, INC. to expand its
business in College Station.
PART 2: That the City Council is making this grant in consideration for
LYNNTECH INC.'s commitment to provide gross payroll and jobs as
provided in an economic development agreement dated July 22, 2002.
PART 3: That the City Council is hereby establishing this program or process or
grant of funds to promote the City of College Station economy.
PART 4: That this resolution shall take effect immediately from and after its
passage.
ADOPTED by the City Council of the City of College Station, Texas, this 22 day of July 2002.
A EST: APPROVED:
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CONNIE HOOKS, City Secretary RON SH; IA, Mayor
Resolution No. 7 -22- 2002 -12.04 Page 2
APPROVED:
TT-Signed by Roxanne Nemcik
ilittfMcaVt.hgrA0ty . wit APPr9Yg
City Attorney
o/l egal /projects /ucs /resoucs. doc
07/19/2002
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