File #: 18-3420    Version: 1 Name: Resolution - Project Agreement with MQOLC - 2018 Bond Sale
Type: Agenda Item Status: Passed
File created: 4/19/2018 In control: City Council
On agenda: 5/7/2018 Final action: 5/7/2018
Title: A resolution approving and authorizing the execution and delivery of a project agreement with Mesquite Quality of Life Corporation for the payment of costs related to reconstruction of Town East Boulevard from US Highway 80 to Skyline Drive and construction and installation of an adjacent pedestrian trail on the east side of Town East Boulevard in the area to be reconstructed, reconstruction of Scyene Road from Clay Mathis Road to Lawson Road and reconstruction of Gus Thomasson Road in the area of the Thomasson Square redevelopment project; approving expenditure of funds by the Corporation in connection therewith; and containing other provisions related thereto.
Attachments: 1. Resolution - 4B

Title

A resolution approving and authorizing the execution and delivery of a project agreement with Mesquite Quality of Life Corporation for the payment of costs related to reconstruction of Town East Boulevard from US Highway 80 to Skyline Drive and construction and installation of an adjacent pedestrian trail on the east side of Town East Boulevard in the area to be reconstructed, reconstruction of Scyene Road from Clay Mathis Road to Lawson Road and reconstruction of Gus Thomasson Road in the area of the Thomasson Square redevelopment project; approving expenditure of funds by the Corporation in connection therewith; and containing other provisions related thereto.

 

Body

The attached resolution authorizes the execution and delivery of a project agreement with Mesquite Quality of Life Corporation for the payment of costs for the reconstruction of Town East Boulevard from US Highway 80 to Skyline Drive and construction of an adjacent pedestrian trail, reconstruction of Scyene Road from Clay Mathis Road to Lawson Road, and reconstruction of Gus Thomasson Road in the area of the Thomasson Square redevelopment project. The City will issue Certificates of Obligation bonds for this reconstruction project and the Mesquite Quality of Life Corporation, through this agreement, will reimburse the City with 4B sales tax revenues in an amount equal to the debt service of the bonds.

 

Recommended/Desired Action

Staff recommends approval of the resolution.

 

Attachment(s)

Resolution

 

Drafter

Debbie Mol

 

Head of Department

Debbie Mol