16-R-08 -EDC Development agreement with Major WireA RESOLUTION BY THE CITY COUNCIL
SCHERTZ, TEXAS AUTHORIZING A
EXPENDITURES AS PROVIDED FOR IN
AGREEMENT BETWEEN THE CITY OF
ECONOMIC DEVELOPMENT CORPORATION
TEXAS, INC.; AND OTHER MATTERS IN CONNI
OF THE CITY OF
PROGRAM AND
A DEVELOPMENT
SCHERTZ TEXAS
AND MAJOR WIRE
;CTION THEREWITH
WHEREAS, the Development Corporation Act of 1979, as amended (Section 501.001 et
seq, Texas Local Government Code, formerly the Development Corporation Act of 1979) (the
"Act ") authorizes a development corporation to fund certain projects as defined by the Act and
requires development corporations to enter into performance agreements to establish and provide
for the direct incentive or make an expenditures on behalf of a business enterprise under a
project; and
WHEREAS, Section 501.158 of the Act requires an incentive agreement to provide at a
minimum for a schedule of additional payroll or jobs to be created or retained and capital
investment to be made as consideration for any direct incentives provided or expenditures made
by the corporation under the agreement and to specify the terms under which repayment must be
made if the business enterprise does not meet the performance requirements specified in the
agreement; and
WHEREAS, the City of Schertz Economic Development Corporation ( "SEDC ") Board
approved the Economic Development Incentive Agreement Major Wire Texas, Inc.. set forth on
Exhibit A attached hereto and incorporated herein (the "Agreement ") among the SEDC, and
Major Wire Texas, Inc. (the "Company "), pursuant to the Act, at the SEDC's Board meeting on
January 28, 2016; and
WHEREAS, Section 501.073 of the Act requires that the corporation's authorizing unit to
approve all programs and expenditures of a corporation; and
WHEREAS, the SEDC has recommended that the City authorize the program and
expenditures associated therewith; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SCHERTZ, TEXAS:
Section 1. The City Council hereby authorizes the program and expenditures as
provided for in the Economic Development Incentive Agreement with Major Wire Texas, Inc. as
set forth in Exhibit A.
Section 2. The recitals contained in the preamble hereof are hereby found to be true,
and such recitals are hereby made a part of this Resolution for all purposes and are adopted as a
part of the judgment and findings of the City Council.
Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with
any provision of this Resolution are hereby repealed to the extent of such conflict, and the
provisions of this Resolution shall be and remain controlling as to the matters resolved herein.
Section 4. This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
Section 5. If any provision of this Resolution or the application thereof to any person
or circumstance shall be held to be invalid, the remainder of this Resolution and the application
of such provision to other persons and circumstances shall nevertheless be valid, and the City
Council hereby declares that this Resolution would have been enacted without such invalid
provision.
Section 6. It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by Chapter 551, Texas Government Code, as amended.
Section 7. This Resolution shall be in force and effect from and after its final
passage, and it is so resolved.
PASSED AND ADOPTED, this day of A�fu4N , 2016.
CITY OF SCHERTZ, TEXAS
chael R. Carpenter, Mayor
ATTEST:
to
Brea a Dennis, City Secretary
(CITY SEAL)
EXHIBIT A
ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT
Major Wire Texas, Inc.