Res 2003-133 - Laserfiche WebLink

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29, RESOLUTION 2003- 133 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE FORM FOR REVOLVING LOAN FUND AGREEMENTS; APPROVING THE ALLOCATION OF REVOLVING LOAN FUNDS TO CERTAIN AIRPORT BUSINESSES; AUTHORIZING THE CITY MANAGER TO EXECUTE THE REVOLVING LOAN FUND AGREEMENTS AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City has available Revolving Loan Fund ("RLF") money from the Texas Community Development Program that it wishes to use to assist airport businesses damaged in the recent windstorm at the San Marcos Airport. 2. The City advertised the availability of these funds and has received applications for funding from three businesses. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The attached form for Revolving Loan Fund agreements to be used by the City and qualified businesses for their receipt of RLF funding is approved. PART 2. The City Manager and the City Attorney are authorized to negotiate the terms of each agreement to fit the needs of each airport business entering into an agreement for funding. PART 3. The award of $80,000.00 to Gryphon Aviation for repairs to its business at the San Marcos Airport is approved. PART 4. The award of $100,000.00 to Southwest Texas Aviation, Inc. for repairs to its business at the San Marcos Airport is approved. PART 5. The award of $ 76,000.00 to McKee Avionics, Inc. for repairs to its business at the San Marcos Airport is approved, contingent upon providing evidence by November 1, 2003 that all outstanding federal tax returns have been filed and any outstanding federal tax obligations brought current; that all State franchise taxes have been brought current and a Certificate of Good Standing has been issued by the State Comptroller; and that all contractual obligations due to the City have been brought current. PART 6. The City Manager, Dan O'Leary, is authorized to execute each Revolving Loan Fund Agreement on behalf of the City.