MISSION ECONOMIC DEVELOPMENT CORPORATION
NOTICE OF INTENTION
TO UNDERTAKE A PROJECT OR PROJECTS
TAKE NOTICE that the Mission Economic Development Corporation of the City of Mission, (the “MEDC”), shall convene not earlier than 60 days after first publishing this notice and shall consider authorizing and undertaking a Project or Projects, as hereinafter described, pursuant to the provisions of Section 4B (a-1) of the Development Corporation Act of 1979 Vernon’s Texas Civil Statutes, Article 5190.6, as amended, the (the “Act”). The MEDC is authorized on behalf of the City of Mission, Texas to undertake the Project or Projects by paying the cost of the Project or Projects with sales tax revenues authorized under Section 4B of the Act.
The Board of Directors of the MEDC will determine whether the Project or Projects will be undertaken and whether it will finance the cost of the Project or Projects with proceeds from sales tax revenues.
The Project or Projects shall consist of the following (1) City of Mission 2011-2012 proposed budget $500,000, additional funding $135,000, amended budget not to exceed $635,000. (2) VIDA Valley Initiative for Development and Advancement in an amount not to exceed $75,000.
Date of Publication: August 19, 2011