Minutes 
SPECIAL CITY COUNCIL MEETING

APRIL 26, 1999

11:00 A.M.

A special meeting of the Terrell City Council was held on Monday, April 26, 1999 in the Council Chambers at 201 East Nash Street, Terrell, Texas with the following members present:

COUNCILMEMBER #1 HENRY C. MADGWICK, SR.
COUNCILMEMBER #3 FRANCES ANDERSON
COUNCILMEMBER #4 LEE SCHAEFFER
COUNCILMEMBER #5 JAMES HUFFMAN

1. CALL TO ORDER

Mayor Henry C. Madgwick, Sr. called the meeting to order.

2. CONSIDER RESOLUTION NO. 340 - AUTHORIZING THE SUBMISSION OF AN APPLICATION FOR A TEXAS CAPITAL FUND GRANT REGARDING THE METROCREST INDUSTRIAL PARK PROJECT.

RESOLUTION NO. 340

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TERRELL, TEXAS, AUTHORIZING AND APPROVING AN APPLICATION FOR FUNDING THROUGH THE TEXAS DEPARTMENT OF ECONOMIC DEVELOPMENT FOR TEXAS CAPITAL FUNDS.

BE IT RESOLVED by the City Council of the City of Terrell, Texas as follows:

SECTION 1. The City Council has reviewed and hereby approves an application for grant funds through the Texas Capital Fund in the amount of $1,000,000 for the following activities which will directly benefit the proposed NUCOR Building Systems facility to be located in Terrell, Texas:

Award for NUCOR Building Systems for infrastructure - $1,000,000

SECTION 2. The City Council has reviewed and hereby agrees to comply with all assurances executed in connection with the application and, if awarded, the grant.

SECTION 3. The Mayor is hereby authorized and directed to act on behalf of the city in all matters pertaining to this application.

SECTION 4. The City Council has reviewed and hereby agrees not to participate in program income recapture and will return all program income to the state to be placed in a statewide Revolving Loan Fund to be used by the state to fund future economic development awards. By agreeing to this measure, the city understands that it will be eligible to receive as many Texas Capital Fund awards per program year as it has eligible projects.

SECTION 5. That it further be stated that the City is committing $2,013,000 for a portion of infrastructure activities, $196,900 for engineering activities and $56,000 for general administrative activities and audit for a total commitment of $2,265,900 provided through funds obtained from the Terrell Economic Development Corporation in order to provide infrastructure system improvements in support of NUCOR Building Systems.

PASSED, APPROVED AND ADOPTED this 26th day of April, 1999.

City Manager Gordon Pierce and Tim Glendening presented to Council for consideration Resolution No. 340 - Authorizing the submission of an application for a Texas Capital Fund Grant regarding the Metrocrest Industrial Park Project. Councilmember James Huffman made a motion to accept Resolution No. 340 - Authorizing the submission of an application for a Texas Capital Fund Grant regarding the Metrocrest Industrial Park Project. The motion was seconded by Councilmember Frances Anderson. Ayes - all; Nayes - none. Motion carried.

3. ADJOURN

There were no other matters discussed or acted on at this meeting. There being no further business the meeting was adjourned.

____________________________________
HENRY C. MADGWICK, SR., MAYOR

ATTEST:

______________________________________
JOHN ROUNSAVALL, CITY SECRETARY

Please report any problems
to Word Works