HomeMy WebLinkAboutR89-102008
REVOLVING LOAN FUND - REGIONAL
RESOLUTION NO. R89-102
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLAINVIEW, TEXAS, AUTHORIZING THE MAYOR TO EXECUTE
AN AGREEMENT WITH THE SOUTH PLAINS ASSOCIATION OF
GOVERNMENTS REGIONAL REVOLVING LOAN FUND COMMITTEE
CALLING FOR ASSURANCES THAT THE CITY WILL HAVE ITS
"LEVERAGE MONIES" REUTILIZED WITHIN PLAINVIEW OR
ITS EXTRA-TERRITORIAL JURISDICTION.
Whereas, the City of Plainview has been successful in receiving
grants from the Texas Capital Fund; and
Whereas, the program income from some of those grants will
remain in the possession of the City of Plainview; and
Whereas, the South Plains Association of Governments, through
the assistance of the City of Plainview, has been successful in
securing an Economic Development Administration Grant; and
Whereas, in order for the City of Plainview to access the
economic development funds from the South Plains Association of
Governments, the City must use its Revolving Loan Fund to leverage
the Economic Development Administration Fund; and
Whereas, the regulations on the City of Plainview Revolving Loan
Fund require that all program income be reinvested in the City of
Plainview or its extra-territorial jurisdiction.
Now, Therefore, Be It Resolved by the City Council of the City
of Plainview, Texas, that the Mayor is hereby authorized to execute
an agreement with the South Plains Association of Governments
Regional Revolving Loan Fund Committee calling for assurances that
the City will have its "leverage monies" reutilized within Plainview
or its extra-territorial jurisdiction.
Passed and approved on January 10, 1989.
E.V. Ridlehuber, Mayor
Carla Reese, City Secretary
APPRO~ED AS TO CONTENT~
~mes P. Jeffers/~a~g~'