Title
Approving a resolution with the caption reading: RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS APPROVING THE PFLUGERVILLE COMMUNITY DEVELOPMENT CORPORATION'S RESOLUTION AUTHORIZING THE PFLUGERVILLE COMMUNITY DEVELOPMENT CORPORATION TO BORROW AN ADDITIONAL $1,500,000 FOR THE CONSTRUCTION OF THE HAWAIIAN FALLS WATER PARK AND AUTHORIZING OMAR PEÑA TO EXECUTE ALL NECESSARY DOCUMENTS, AND FURTHER, AUTHORIZING THE CITY MANAGER TO EXECUTE AND THE CITY ATTORNEY TO PREPARE AND ISSUE ANY AND ALL NECESSARY DOCUMENTS PERMITTING THE LOAN TO BE AMENDED, WITH ALL CITY EXECUTED DOCUMENTS PREPARED IN A FORM APPROVED BY THE CITY ATTORNEY.
Summary
This item has been included on the agenda to allow for discussion and potential action on the item.
Previous City Council Action
The City Council took action on January 28, 2014 and February 11, 2014, to authorize the Pflugerville Community Development Corporation (PCDC) to borrow $23,500,00 for the construction of the Hawaiian Falls Water Park.
Deadline for Action
N/A
Fiscal Impact
As specified in the loan documents.
Staff Recommendation
Take action as appropriate.
Drafter
Floyd Akers
Executive Director/General Counsel, PCDC