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CC Resolution No. 1674 72 RESOLUTION NO. 1674 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, REPEALING RESOLUTION NO. 1629 APPROVED BY THE CITY COUNCIL ON FEBRUARY 12, 2004; AUTHORIZING THE CITY MANAGER TO APPLY FOR FINANCIAL ASSISTANCE FROM THE TEXAS WATER DEVELOPMENT BOARD FOR THE UTILITY CAPITAL IMPROVEMENT PROGRAM; MAKING OTHER PROVISIONS RELATED THERETO; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. WHEREAS, on February 12, 2004, the City Council authorized the City Manager to apply for financial assistance in the amount of THIRTY-TWO MILLION FOUR HUNDRED SEVENTY THOUSAND AND NO/100 DOLLARS ($32,470,000.00) from the Texas Water Development Board ("TWDB") for the Utility Capital Improvement Program; and WHEREAS, such amount omitted SIX HUNDRED THOUSAND AND NO/100 DOLLARS ($600,000.00) in issuance costs; and WHEREAS, TWDB requires that issuance costs be likewise authorized by resolution so that the total amount authorized matches the corresponding loan application; and WHEREAS, the City of Baytown desires to add SIX HUNDRED THOUSAND AND NO/100 DOLLARS ($600,000.00) in issuance costs to its initial authorization for financial assistance and so that the total authorized application for assistance from TWDB equals THIRTY-THREE MILLION SEVENTY THOUSAND AND NO/100 DOLLARS ($33,070,000.00); NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: That Resolution No. 1629 approved by the City Council on February 12, 2004, is hereby repealed in its entirety. Section 2: That the City Council of the City of Baytown hereby authorizes the City Manager to apply for financial assistance from the Texas Water Development Board for the Utility Capital Improvement Program in the amount of THIRTY-THREE MILLION SEVENTY THOUSAND AND NO/100 DOLLARS ($33,070,000.00). Section 3: That the City Manager is hereby designated as the authorized representative for submitting the application, executing any necessary documents associated therewith and making appearances before the Texas Water Development Board. Section 4: That the City Manager of the City of Baytown is hereby authorized to accept or affirm any financial assistance granted that may result from the above-referenced application. Section 5: This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown. 73 INTRODUCED, READ and PASSED, by the affirmative vote of the City Council of the City of Baytown this the 26`h day of August, 2004. CALVIN MUNDINGER, Mayor ATTEST: G RY . SMITH, City Clerk APPROVED AS TO FORM: I NACIO RAMIREZ, S ity Attorney \\Bdc2\Gfigation\Karen\Files\City Council\Resolutions\TWDBUfiIityCapitallmprovementProg,atnApplicatlonPluslssuanceCosts.doc 2