AG 2010 11 15 - Laserfiche WebLink

Home Browse Search

through an interlocal agreement that provides for a transfer from the County to the City of all or a portion of the ad valorem taxes received or to be received by the County on the incremental valuation of property in the District; WHEREAS, the City has requested the County to provide such assistance pursuant to an interlocal agreement and the County has determined it is in the best interests of the County to do ZME WHEREAS, there has been submitted to this meeting a draft form of an Interlocal Agreement (the "Agreement ") between the City and the County, pursuant to which the County, to the extent and subject to the limitations set forth in the Agreement, agrees to pay the County Contribution (as defined in the Agreement) to or for the benefit of the City to provide financial assistance for repayment of the City Debt as more specifically set forth in the Agreement WHEREAS, the Board of Commissioners desires to approve the Agreement and to authorize other actions in connection therewith; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners, as follows: Section 1. All actions taken by or on behalf of the County to date relating to the negotiation of the Agreement are hereby ratified, approved and authorized pursuant to and in accordance with the transactions contemplated by the Agreement. Section 2. The Agreement is hereby approved in substantially the form submitted to this meeting, and each of the Chairman of the Board of Commissioners or the County Manager is hereby authorized to execute and deliver the Agreement in the name and on behalf of the County, with such changes, insertions or omissions as the persons executing the Agreement may approve, the execution and delivery thereof to constitute conclusive evidence of such approval; provided, however, that the maximum principal amount of the City Debt to be supported by the 2 G -3 Page 183