HomeMy WebLinkAboutRES 2005-021 RESOLUTION NO. 2005-21
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS APROVING THE TERMS OF THE
MEMORANDUM OF UNDERSTANDING — SH 121
FUNDING STRATEGY, AUTHORIZING ITS EXECUTION BY
THE CITY STAFF; DECLARING AN EMERGENCY AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, NCTCOG and TxDOT have decided to toll State Highway 121 from
Denton Creek to the Dallas North Tollway; and
WHEREAS, the City of Grapevine committed to Denton County to participate in
the local funding required for application to the State Infrastructure Bank for funding to
improve SH 121; and
WHEREAS, under the terms of the Memorandum of Understanding — SH 121
Funding Strategy, Denton County agrees to refund the City of Grapevine's $600,000.00
participation with Denton County in the State Infrastructure Bank Loan upon
reimbursement by TxDOT.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. That all matters stated in the above preamble are true and correct
and are incorporated herein as if copied in their entirety.
Section 2. That it is hereby determined that the City of Grapevine approves the
Memorandum of Understanding — SH 121 Funding Strategy.
Section 3. That the City Staff is authorized to execute said Memorandum of
Understanding — SH 121 Funding Strategy.
Section 4. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE. CiTY Y OF
GRAPEVINE, TEXAS on this the 19th day of April, 2005.
APPROVED:
7€.(
William D. Tate
Mayor
ATTEST:
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MG )1111.4ea
Linda Huff OW
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
RES. NO. 2005-21 2