RES 2013-20 Dissolve EDC 4ATOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2013-20
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
TROPHY CLUB, TEXAS TAKING ACTION TO TERMINATE THE
EXISTENCE OF THE TROPHY CLUB 4A ECONOMIC DEVELOPMENT
CORPORATION (UEDC4A") AS AUTHORIZED BY THE TEXAS LOCAL
GOVERNMENT CODE; PURSUANT TO THE ARTICLES OF
INCORPORATION OF THE EDC4A AUTHORIZING THE TRANSFER OF
ANY INTEREST IN ANY EXISTING FUNDS OR PROPERTY OF ANY
KIND, WHETHER REAL, PERSON, OR MIXED TO THE TOWN OF
TROPHY CLUB UPON DISSOLUTION OF THE EDC4A AN AS
AU'rHORIZED BY LAW; PROVIDING FINDINGS THAT TERMINATION
OF THE EDC4A WILL NOT IMPAIR ANY CON'rRACTUAL OR OTHER
DEBT OBLIGATIONS OF EDC4A; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the Town is empowered under §51.001 of the Texas Local
Government Code to adopt a resolution that is for the good government of the Town;
and
WHEREAS, pursuant to Section 501.401 of the Texas Local Government Code
(LGC), the Town Council as the authorizing unit of the Trophy Club 4A Economic
Development Corporation ("EDC4A") is authorized to take action by Resolution to
terminate the existence of the EDC4A; and
WHEREAS, the Town Council finds that the EDC4A does not have any
outstanding contractual or other debt obligations which will be impaired by the
dissolution of EDC4A; therefore, the termination of the EDC4A will not result in the
impairment of any outstanding contractual or other debt obligations; and
WHEREAS, the Town Council finds that the public health, safety and welfare are
best served by the termination of the EDC4A and that pursuant to the Articles of
Incorporation of the EDC4A, any interest in any funds or property of any kind, real,
personal, or mixed existing upon dissolution will be transferred to the Town.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
Section 1. The foregoing recitals and stated findings are found to be true and
correct and are incorporated herein as if written word for word.
Section 2. The Town Council of the Town of Trophy Club, Texas acting
pursuant to its authority under Chapter 501 of the Texas Local Government Code, does
by the adoption of this Resolution terminate the existence of the Trophy Club 4A
Economic Development Corporation.
Section 3. Pursuant to the Articles of Incorporation of the Trophy Club 4A
Economic Development Corporation, any interest in any existing fund or property of any
kind, real, personal, or mixed shall be transferred and delivered to the Town upon
dissolution
Section 4. This Resolution shall take effect from and after its date of passage
in accordance with law.
PASSED and APPROVED by the Town Council of the Town of Trophy Club,
Texas on this 5th day of August, 2013.
L!nw #Ltc
eOflf1ieWhite. Mayor
Town of Trophy Club, Texas
ArrEST:
APPROVED TO AS FORM:
~~
Patricia A. Adams , Town Attorney
Town of Trophy Club, Texas