R348RESOLUTION NO. 348
A RESOLUTION OF THE CITY OF KENNEDALE, TEXAS APPROVING
THE TERMS AND CONDITIONS OF A PROGRAM TO PROMOTE
ECONOMIC DEVELOPMENT AND STIMULATE BUSINESS AND
COMMERCIAL ACTIVITY IN THE CITY; AUTHORIZING THE CITY
MANAGER TO EXECUTE AN AGREEMENT WITH CMC REBAR FOR
SUCH PURPOSES; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, Chapter 380 of the Texas Local Government Code authorizes
municipalities to establish and provide for the administration of programs that promote
economic development and stimulate business and commercial activity in the city; and
WHEREAS, the City Council has been presented with a proposed agreement by
and between the City of Kennedale and CMC Rebar, a copy of which is attached hereto
as Exhibit "A" and incorporated herein by reference (hereinafter called the "Agreement ";
and
WHEREAS, upon full review and consideration of the Agreement and all matters
attendant and related thereto, the City Council is of the opinion that the Agreement will
assist in implementing a program whereby economic development will be promoted and
business and commercial activity will be stimulated in the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF KENNEDALE, TEXAS:
SECTION 1.
The City Council finds that the terms of the Agreement will promote economic
development and stimulate business and commercial activity in the City and otherwise
meet the criteria of Section 380.001 of the Texas Local Government Code.
SECTION 2.
The City Council hereby adopts and economic development program whereby
the City of Kennedale will make economic development program payments for the
benefit of CMC Rebar, and take other specified actions in order to induce economic
development within the City, in accordance with the terms outlined in the Agreement.
SECTION 3.
The terms and conditions of the Agreement, having been reviewed by the City
Council of the City of Kennedale and found to be acceptable and in the best interest of
the City and its citizens are hereby approved.
SECTION 4.
The City Manager is hereby authorized to execute the Agreement and all other
documents in connection therewith on behalf of the City substantially according to the
terms and conditions set forth in the Agreement.
SECTION 5.
This Resolution shall become effective from and after its passage.
PASSED, APPROVED and EFFECTIVE this C t day of 1 /- 2mn6ee -- 2010.
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Mayor, Bryan Lankhorst
ATTE
Kelly C Interim City Secretary
EXHIBIT A
380 AGREEMENT
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