Resolution 2016-30 RESOLUTION NO.2016-30(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE,
COLLIN COUNTY, TEXAS, AUTHORIZING AND APPROVING A
CERTAIN RESOLUTION OF THE WYLIE ECONOMIC
DEVELOPMENT CORPORATION.
WHEREAS, the Wylie Economic Development Corporation was established by
ordinance of the Wylie City Council subsequent to an election to impose and assess a one-half cent
sales tax for economic development within the City of Wylie;
WHEREAS, one of the purposes for which the Wylie Economic Development
Corporation was established is to provide for the creation of jobs and increase the tax base of the
City of Wylie;
WHEREAS, the Board of Directors of the Wylie Economic Development Corporation
intends to recruit companies which will provide jobs and increase the tax base by implementing
qualified projects;
WHEREAS,the Board of Directors of the Wylie Economic Development Corporation has
duly adopted a Resolution that approves a loan from the American National Bank of Texas in an
aggregate amount of$2,000,000.00 loan to assist the financing of qualified projects; and
WHEREAS, Section 501.204(a)of the Texas Local Government Code,as amended,("the
Act") requires that the governing body of the City of Wylie approve the resolution of the Wylie
Economic Development Corporation providing for the approval of the loan no more than sixty
(60) days prior to the execution and delivery of the documents evidencing such debt.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WYLIE,COLLIN COUNTY,TEXAS,THAT:
Section 1. The Wylie City Council approves the resolution adopted by the Board of
Directors of the Wylie Economic Development Corporation on the 281' day of October, 2016
authorizing a loan in an aggregate amount of$2,000,000.00 from the Bank and pledging the V2 cent
sales tax for economic development as collateral to secure the repayment of loan(s).
Section 2. This resolution was approved by the Wylie City Council at a council
meeting duly posted in accordance with the Texas Open Meeting Act and at which a quorum was
present and voting.
Resolution No.2016-30(R)
Approving EDC$2,000,000.00 Loan Page 1
ADOPTED by the Wylie City Council on the 14th day of November, 2016.
APPROVED:
VII�X4""
Eric Hogue, or
ATTEST:
OF
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Carole Ehrlich, CAY Secretary QQ I
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oI�SS`�0 5
STAFF of TO,
Resolution No.2016-30(R)
Approving EDC$2,000,000.00 Loan Page 2
RESOLUTION NO. 2016_O1(R)
RESOLUTION APPROVING A PROGRAM AND THE EXPENDITURE OF FUNDS BY
THE WYLIE ECONOMIC DEVELOPMENT CORPORATION AND ENACTING
OTHER PROVISIONS RELATING TO THE SUBJECT.
WHEREAS, the Wylie Economic Development Corporation (the "Corporation") has
been incorporated and exists and operates as a duly constituted authority and instrumentality of
the City of Wylie, (the "City"), pursuant to Chapter 501 of the Texas Local Government Code
(the"Development Corporation Act" or"Act"), and governed as a Type A Corporation under the
Act and Chapter 501 and 504 of the Texas Local Government Code, is qualified to do business,
and in good standing; and
WHEREAS, no proceedings for forfeiture of the certificate of incorporation or for
voluntary or involuntary dissolution of the Corporation are pending; and
WHEREAS, neither the articles of incorporation nor the bylaws of the Corporation limit
the Board of Directors to adopt this Resolution; and
WHEREAS, the City which is the authorizing unit for the Corporation, as required by
Chapter 501 of the Texas Local Government Code,must authorize said program and expenditure
of the Corporation; and
WHEREAS,the Wylie Economic Development Corporation Board of Directors finds and
determines that it is appropriate to approve the Project as an authorized program and expenditure
of the Corporation; and
WHEREAS, the Corporation approves the terms and conditions of the Loan Documents,
including but not limited to, a Promissory Note and Security Agreement in order to borrow the
sum of$2,000,000 from The American National Bank of Texas to fund a portion of the purchase
price for land and improvements located at and in the vicinity of 908 West Kirby, Wylie, Texas
(the"Project") in order to promote economic development in the City of Wylie; and
WHEREAS, the President, Marvin Fuller, is hereby authorized in the name of this
Corporation and as its own act to execute the Promissory Note, the Security Agreement and all
other documents necessary to borrow$2,000,000 from The American National Bank of Texas to
the Corporation and to pledge the Corporation's sales and use tax receipts as security for such
Note; and
WHEREAS, the Secretary of the Corporation is directed to certify the minutes of this
meeting and the contents of these resolutions and to deliver the certification in support of the
authority of the Director named above to act on behalf of this Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE WYLIE ECONOMIC
DEVELOPMENT CORPORTION BOARD OF DIRECTORS:
SECTION 1: The recitals set forth in the preamble hereof are incorporated herein and
shall have the same force and effect as if set forth in this Section. The undertaking of the
Projects and the expenditure and pledging of funds of the Corporation in connection therewith
are hereby approved.
SECTION 2: This Resolution shall take effect immediately upon its passage.
DULY PASSED AND APPROVED by the Board of Directors of the Wylie Economic
Development Corporation on this 28"'day of October, 2016.
Marvin Fuller, President
ATTEST TO:
John Yeager,WEDC Secretary
DESCRIPTION
STATE OF TEXAS
COUNTY OF COLLIN
BEING oil that tract of land In the City of Wylie, Collin County, Texas,
Transit 100") BEING
of the E.C. Davidson Survey, A-266, and being all o/ Lots 1, 2,
Dallas Ar.a Ra Id and J. Block 1 of Wallace Industrial Park asecorded In Volume F. '-. CM
-- Page 243 o/ the Plot Records of Collin County, Texas, and being all
of that coiled 2.48 acne of land described In a deed to Dallas w Q Q
POINT OF E 243.}8' Whijovol, LTD as recorded In Volume 4528, Pape 1760 of the Land > X
BEGINNING N 8452'16" rnu .yK Records of Collin County, Texas, and being further described as > W
wscxc�•_ _ follows: W W I-
re'urKn c (A > J
BEGINNING at a 1 Inch pips found on the South fine of Dallas Area �s� W CC
,a,°on Rapid ironNf (100'), at the Norfhweaf comer of aold 2.48 acres. and M 9
7a e36CALLED 2 4 ACRES at the Northeast tomo of that called 1.590 care. of land described } U >
e, DALLAS WHIRLPOOL, LTD In a deed toWylie Economic Development Corporation as recorded Q LL
VOL. 4528, PG. 1760 CALLED 3.25 ACRES under CC/ 20131112001531220 o! the Official Public Records of Collin Q < Z 0 O
CITY OF WYLIE County, Texas;
1e0 VOL. 279, PC, 511 Q ^ U) U
THENCE North 84 degree* 52 minutea 18 ..condo East, 243.38 feet 0 Z
along the South line of O.A.R.T. to a 5/8 Inch stool rod set of the Z ; O J
�:ALIED 1590 ACRES Northeast corner of sold 2.48 acme, and of the Northwest comer of>: that Iracf of land in dud to the Cify of Wylie o. recorded under
CC/ D Q J
WYUF FCONOMIC DEVELOPMENT rO.RP. Y _ 201 5 1 20 70 01 52385 0 of the Olflclol Public Records o/ Collin County O 0
C'CN 2013 1 1 1200153 1220 $ Texas, and being described as called 5.00 acne In Volume 951. Pape
g B�uaby 911 of the Dud Records of Collin County, Texas; m W
THENCE South DO degrees 00 minutes 00 second. East, 865.82 feet to
E-C. DA✓IDSDN SURVEY, A-266 � o v,,_, a 5/8 Inch .feel rod set on the North fine of F.M. Highway No. $44,and of the Southeast corner of sold 2.48 come;
THENCE South 87 degrees 50 minutes 00 seconds West, 25.92 feet
\ --- �_ _-- o g along the Norah Iln• of sold F.M. Highway No. 544 to an "X" set at
N point
of Curve;
_- I r.n nr1 40 rCMy�,
\\ THENCE Southwesterly. 218.86 het along sold F.M. Highway No. SII
4.79 ACRES and a curve to the left having a radius of 5789.58 /eef and a
208,648 SO, FT. �� c� central angle of 02 degree* 08 minutes 46 seconds (Chord bean
South 86 depress 45 minutes 37 seconds West, 216.85 feet) to a 5/8 p
s IInch stool rod found of the Southwest corner of sold Lot 2, and at N r
m CALLED 1.065 ACRES I,— m the Southeast corner f that called 0.618 acro of land described In
WYLIE ECONOMIC DEVELOPMENT CORP. „os I a deed to Extra Properly Holdings, LLC as recorded under CC/
CCS 20140107000015390 m 20 1 4 0325000280 03 0 of the Official Public Records of Collin County, inn
e w LOT 3 Texas; dr I
W aN'
e -'o BLOCK 1 ZONE 'X' "0
E PIAL
w THENCE North 00 degrees 00 minutes 00 seconds East (Soaring Ba.h), a o
:VOL h
INDUSTRIAL PARK N J 1 st
g 857.30 of along the West lin• o/ sold Lot. 1, 2, 3, erred said 2.48 NN
E o j VOL F, PG. ?4J g ZONE A' acres to the POINT OF BEGINNING containing 4.79 ocns of land. U x 3 E
Cn
I N o-xa
O o 1-
� aUOLLW
CALLED U 8J56 ACRES �� n
°r u»
RICHARD RICSBY
LIA RICSBY III 'oo i FLOOD ZONE DEFINITIONS:
CCI 20080519000601600 I
o F.LR.M. 48085C0420J, dated June 2, 2009
O�
3 2se ,n Zone 'A' - "Special flood hazard areas subject to Inundation by the 1%annual O
a. u chance flood. No base flood elevations determined. w= G
dl i07 1 I /fin oaF m
Zone 'X' - "Areas ddermined to be outside the 0.2X annual chane lloodplaln.'
pp
JO k w `b¢. I,)_!_i 15' ll.'1 IY Fu>'nn Vo!. x1'. r 534 - Sr,own he.ecri. � ate' Q
oohso
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oae .� J z I sar_srznrawro QQ
Note: Bwtings based on West line of called 2.48 acres(vol. 4528, Pg. 1760).
b I Not.: Verify exact location of underground utilities prior to construction.
Nob;All 5/8 fresh steel rods ssf haw red plastic cap .tempest "Boundary Solutions" CLIENT: °
LOT 2 DC.�. — of
W W c,nr " Dallas Whirlpool,
- -. - --f;t-----"— The plot as shown hereon was prepared from an on-the-ground LTD
survey performed under my supervision during the month of October, to
S^87-5000 W 2016; the visible lm is on the d are as shown on the Wylie Economic
L=116.86' proveman grown
R-5789.58' 25'92 survey; there are no visible Intrusions, protrusions, overlapping of Y
G=02178'46" improvements or conflicts found except as shown on the survey plat. Development o
CB-SB6'45'37"W F.M. Hfghway No. 544 Corporation es
216.85' (w. Krrby Street) m
October 5, 2016 �4-4�-,I(
yrrrer C.F./ 1913502851
_ >* _/j? I� _ Address:
0' 75 150' 225' .700' -�W'"'�' "- Mn"hew Bushy C 900 W. Kirby St.
�, 5751 R.P.L.S. No 5751
Drown by: m)b L)
B.S.LJeb/ 1809-013
2.7 AC ,«
a'
WEDC `,
p'- - 4.79 AC 4.79 AC
4
Dallas Whirlpool City of Wylie _