Resolution 2021-02(R) '._' SOLUTION NO. 2021-02(R)
' SOLUTION OF THE BO• ' I OF DIRECTORS OF THE IE
ECONOMIC DEVELOPMENT CORPO ' A,TION REGARDING A LOAN
IN THE PRINCIPAL AMOUNT OF $8,108,000.00.
WHEREAS, The WYLIE ECONOMIC DEVELOPMENT CORPO' . TION
("Borrower") proposes to enter into a Loan Agreement dated as of October 5, 2021 (as
amended, restated, supplemented and/or otherwise modified, the "Loan Agreement"), with
Government Capital Corporation, as lender ("Lender") to enable the Corporation to (1) finance
the purchase of certain real property (the "Property") in the City of Wylie, Texas (the "City") for
economic develop purposes, and (2) pay costs of issuing the loan, and as security for the
payment of the principal of and interest thereon, the Borrower has agreed to pledge its Economic
Development Sales and Use Tax. All capitalized terms used herein, but not otherwise defined
herein, shall have the meaning ascribed to such term in the Loan Agreement.
EREAS, the proposed form of the Loan Agreement, the Series 2021 Note (as
defined in the Loan Agreement) and the Sales Tax Remittance Agreement (as defined in the
Loan Agreement)have been presented to this meeting.
NOW THEREFORE, BE IT SOLVED BY T BOA' I OF DI' CTORS OF
T WYLIE ECONO C DEVELOPMENT CO' O`_• TION AS FOLLOWS:
Section 1. The Board of Directors agrees to enter into the Loan Agreement, Series 2021
Note and the Sales Tax Remittance Agreement to finance the cost of the Property in the amount
of$8,108,000.00 at an interest rate agreed upon by the Lender and the Borrower on the date of
execution of the execution of the Series 2021 Note, the Loan Agreement and the Sales Tax
Remittance Agreement and, in order to secure the principal and interest on the Series 2021 Note,
to pledge its Economic Development Sales and Use Tax.
Section 2. That any one or more of the Authorized Officers of the Borrower listed in
Section 3 below be, and each of them hereby is, authorized to execute, acknowledge and deliver
in the name and on behalf of Borrower to the Lender the Loan Agreement, including all
attachments and exhibits thereto, the Series 2021 Note and the Sales Tax Remittance Agreement.
The Loan Agreement, Series 2021 Note and Sales Tax Remittance Agreement shall be in
substantially the form presented to this meeting with such changes as the signing officer shall
determine to be advisable. Further, said Authorized Officers are authorized to execute,
acknowledge and deliver in the name and on behalf of the Borrower any other agreement,
instrument, certificate, representation and document, and to take any other action as may be
advisable, convenient or necessary to enter into such Loan Agreement, Series 2021 Note and
Sales Tax Remittance Agreement; the execution thereof by any such Authorized Officer shall be
conclusive as to such determination.
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Section 3. That for the purpose of this resolution, the following persons, or the persons
holding the following positions, are "Authorized Officers" duly authorized to enter into the
transaction contemplated by this resolution in the name and on behalf of Borrower:
Name Title
Demond Dawkins President
Melisa Whitehead Vice-President
Tim Gilchrist Treasurer
Gino Mulliqi Secretary
Blake Brininstool Board Member
Section 4. That there is hereby authorized the execution and delivery by the Authorized
Officers or any one of them in the name of and on behalf of Borrower the Loan Agreement,
including all attachments and exhibits thereto, the Series 2021 Note and the Sales Tax
Remittance Agreement in substantially the form presented to this meeting with such changes as
the signing officer shall determine advisable, and the execution thereof shall be conclusive as to
such determination.
Section 5. That this Resolution shall take effect immediately.
PASSED AND ADOPTED this 27th day of September 2021.
WYLIE ECONOMIC DEVELOPMENT
CORPO T
By:
Demand Dawkins, President
ATTEST:
By:
Gino Mulliqi, Secretary
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