MISSION ECONOMIC DEVELOPMENT CORPORATION
NOTICE OF INTENTION
BUDGET AMENDMENT TO FY 2018-2019 BUDGET
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 a Budget Amendment to the fiscal year 2018-2019 Budget, as hereinafter described, pursuant to the provisions of V.T.C.A. Local Government Code Sections 505.001 et seq. 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 said Local Government Code sections.
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 purchase of real property and improvements described as Lot One (1) Tamkin Subdivision, an Addition to the City of Mission, Hidalgo County, Texas, as per map recorded in Volume 29, Page 187 B, Map Records of Hidalgo County, Texas. The purchase price will be financed through a loan in a principal amount not to exceed $7,919,131. The property will be owned and maintained by the Mission Economic Development Corporation.
Date of publication: August 24, 2018