HomeMy WebLinkAbout028208 ORD - 06/16/2009Page 1 of 3
A RESOLUTION
APPROVING A BUSINESS INCENTIVE AGREEMENT BETWEEN THE
CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION AND GLOBALWATT, INC. FOR THE
MANUFACTURING, MANAGEMENT, AND INSTALLATION
PHOTOVOLTAIC TECHNOLOGY AND AUTHORIZING THE CITY
MANAGER, OR DESIGNEE, TO EXECUTE A BUSINESS INCENTIVE
PROJECT SUPPORT AGREEMENT WITH THE CORPUS CHRISTI
BUSINESS AND JOB DEVELOPMENT CORPORATION REGARDING
IMPLEMENTATION AND ADMINISTRATION OF THE GLOBALWATT
BUSINESS INCENTIVE AGREEMENT
WHEREAS, the Corpus Christi Business and Job Development Corporation ("4A
Board") has budgeted funds to assist business in Corpus Christi, Texas.
WHEREAS, in 2007, the 4A Board requested proposals and determined that the
proposal from GlobalWatt, Inc. ("GlobalWatt"), best provided assistance for business
support;
WHEREAS, City Council deems that it is the best interest of the City and citizens to
approve the business incentive project support agreement; and
WHEREAS, there is a need for a business incentive project support agreement
between the City of Corpus Christi ("City") and the 4A Board for the implementation and
administration of the business incentive agreement with GlobalWatt for the
manufacturing, management, and installation photovoltaic technology.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the business incentive agreement for the manufacturing,
management, and installation photovoltaic technology for businesses between the 4A
Board and GlobalWatt, which is attached to this resolution as Exhibit A, is approved.
SECTION 2. That the City Manager, or designee, is authorized to execute a project
support agreement between the City and 4A Board for the implementation and
administration of the business incentive agreement with GlobalWatt for the
manufacturing, management, and installation photovoltaic technology, which is attached
to this resolution as Exhibit B.
ATTEST:
Armando Chapa
City Secretary
THE CITY OF CORPUS CHRISTI
Joedame
Mayor
028208
GlobalWatt RESOLUTION -- Business Agreement -- 06012009
Page 2 of 3
APPROVED: 1st day of June, 2009.
R. Ja ming /
Fir Assistant City Attorney
For City Attorney
GlobalWatt RESOLUTION -- Business Agreement -- 06012009
'Page 3of3
Corpus Christi, Texas
1(! of
,2009
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Brent Chesney
Larry Elizondo, Sr.
Kevin Kieschnick
Priscilla G. Leal
John E. Marez
Nelda Martinez
Mark Scott
kit
4-fr2‘
028206
GlobalWatt RESOLUTION -- Business Agreement -- 06012009
BUSINESS INCENTIVE AGREEMENT BETWEEN THE CORPUS CHRISTI
BUSINESS AND JOB DEVELOPMENT CORPORATION AND GLOBALWATT, INC.
FOR THE MANUFACTURING, MANAGEMENT, AND INSTALLATION OF
PHOTOVOLTAIC TECHNOLOGY
This Business Incentive Agreement for (`Agreement") is entered into between the
Corpus Christi Business and Job Development Corporation ("Corporation") and
GlobalWatt, Inc., a Delaware corporation ("GlobalWatt").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979) empowered local
communities with the ability to adopt an optional local sales and use tax as a means of
improving the economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City of Corpus Christi ("City")
passed Proposition 2, New and Expanded Business Enterprises, which authorized the
adoption of a sales and use tax for the promotion and development of new and
expanded business enterprises at the rate of one-eighth of one percent to be imposed
for 15 years;
WHEREAS, the 1/8th cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corpus Christi Business and Job
Development Corporation Board;
WHEREAS, the Corpus Christi Business and Job Development Corporation exists for
the purposes of encouraging and assisting entities in the creation of jobs for the citizens
of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentives;
WHEREAS, Section 501.073, Texas Local Government Code, formerly Section 21 of
the Texas Development Corporation Act of 1979, Art. 5190.6, Vernon's Texas Revised
Civil Statutes, requires the City Council to approve all programs and expenditures of the
corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentives on September 18, 2007;
WHEREAS, GlobalWatt, Inc. is a corporation, whose principal mission is to
manufacture, manage, and install photovoltaic technology;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas that business development funds be provided to GlobalWatt,
through this contract with GlobalWatt, to be used by GlobalWatt to establish an office to
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
manufacture, manage, and install photovoltaic technology, and which will result in
creation of up to 400 new full-time permanent jobs in the City of Corpus Christi.
In consideration of the covenants, promises, and conditions stated in this Agreement,
Corporation and GlobalWatt agree as follows:
1. Effective Date. The effective date of this Agreement ("Effective Date") is the latest
date that either party executes this Agreement.
2. Term. The term of this Agreement is for 5 year(s) beginning from the date that the
Phase 1 manufacturing equipment is delivered and installed.
3. Performance Requirements and Grants.
a. GlobalWatt shall research, develop, and commercialize photovoltaic
technology.
b. GlobalWatt shall maintain a sales and engineering office in Corpus Christi.
c. Global Watt shall create and maintain at least 175 new, full-time jobs within
the City, with an average annual salary of $44,000, during the term of this
agreement.
d. The Corporation will award a grant of $7,000 for each new job created and
retained, including any additional new jobs over the minimum number of required
by subsection c of this section. Grants, not to exceed a cumulative total of
$2,800,000, are available on a per job created basis.
e. If GlobalWatt does not create the minimum number of new jobs or maintain
the number of jobs for any given year, as defined in the following chart below, the
Corporation will not award any grant to GlobalWatt for that calendar year.
Year
Minimum Number Minimum
of New Jobs Number of
Retained Jobs
Grant
1 30 0 $210,000
2 70 30 $490,000
3 75 100 $525,000
4 & 5 0 175 $7,000 per job,
but not to
exceed a total
$1,575,000
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
4. Job Creation Qualification.
a. In order to count as a created job under this Agreement, the job must pay
wages as required by Section 501.162, Texas Local Government Code, formerly
Section 38(b) of the Development Corporation Act of 1979, as amended, which is
the median wage of the occupation in the Corpus Christi MSA as determined by
Texas Workforce Commission's Texas Industry Profiles report.
b. A full-time permanent job is one that provides at least 2,080 hours annually.
c. GlobalWatt agrees to confirm and document to the Corporation that the
minimum number of jobs created as a result of funding provided by this
Agreement is maintained throughout the term by the Business.
d. GlobalWatt agrees to provide Corporation with a sworn certificate by
authorized representative of each business assisted under this Agreement
certifying the number of full-time permanent employees employed by the
business.
e. GlobalWatt shall ensure that the Corporation is allowed reasonable access to
personnel records of the businesses assisted under this Agreement.
5. Buy Local Provision.
a. GlobalWatt agrees to use its best efforts to give preference and priority to
local manufacturers, suppliers, contractors, and labor, except where not
reasonably possible to do so without added expense, substantial inconvenience,
or sacrifice in operating efficiency.
b. For the purposes of this section, the term "local" as used to describe
manufacturers, suppliers, contractors, and labor includes firms, businesses, and
persons who reside in or maintain an office within a 50- mile radius of Nueces
County.
6. Warranties. GlobalWatt warrants and represents to Corporation the following:
a. GlobalWatt is a corporation duly organized, validly existing, and in good
standing under the laws of the State of Delaware, has all corporate power and
authority to carry on its business as presently conducted in Corpus Christi,
Texas.
b. GlobalWatt has the authority to enter into and perform, and will perform, the
terms of this Agreement to the best of its ability.
c. GlobalWatt has timely filed and will timely file all local, State, and Federal tax
reports and returns required by laws to be filed and all Texas, assessments, fees,
and other governmental charges, including applicable ad valorem taxes, have
been timely paid, and will be timely paid , during the term of this Agreement.
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
d. GlobalWatt has received a copy of the Texas Development Corporation Act,
Subtitle C1, Title 12, Texas Local Government Code, and acknowledges that the
funds granted in this Agreement must be utilized solely for purposes authorized
under State law and by the terms of this Agreement.
e. The parties executing this Agreement on behalf of GlobalWatt are duly
authorized to execute this Agreement on behalf of GlobalWatt.
7. Compliance with Laws. GlobalWatt shall observe and obey all applicable laws,
ordinances, regulations, and rules of the Federal, State, county, and city governments.
8. Non -Discrimination. GlobalWatt covenants and agrees that GlobalWatt will not
discriminate nor permit discrimination against any person or group of persons, with
regard to employment and the provision of services at, on, or in the Facility, on the
grounds of race, religion, national origin, marital status, sex, age, disability, or in any
manner prohibited by the laws of the United States or the State of Texas.
9. Force Majeure. If the Corporation or GlobalWatt are prevented, wholly or in part,
from fulfilling its obligations under this Agreement by reason of any act of God,
unavoidable accident, acts of enemies, fires, floods, governmental restraint or
regulation, other causes of force majeure, or by reason of circumstances beyond its
control, then the obligations of the Corporation or GlobalWatt are temporarily
suspended during continuation of the force majeure. If either party's obligation is
affected by any of the causes of force majeure, the party affected shall promptly notify
the other party in writing, giving full particulars of the force majeure as soon as possible
after the occurrence of the cause or causes relied upon.
10. Assignment. GlobalWatt may not assign all or any part of its rights, privileges, or
duties under this Agreement without the prior written approval of the Corporation and
City. Any attempted assignment without approval is void, and constitutes a breach of
this Agreement.
11. Indemnity. GlobalWatt covenants to fully indemnify, save, and
hold harmless the Corporation, the City, their respective officers,
employees, and agents ("Indemnitees') against all liability, damage,
loss, claims demands, and actions of any kind on account of personal
injuries (including, without limiting the foregoing, workers'
compensation and death claims), or property loss or damage of any
kind, which arise out of or are in any manner connected with, or are
claimed to arise out of or be in any manner connected with
GlobalWatt activities conducted under or incidental to this
Agreement, including any injury, loss or damage caused by the sole
or contributory negligence of any or all of the Indemnitees.
GlobalWatt must, at its own expense, investigate all those claims and
demands, attend to their settlement or other disposition, defend all
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
actions based on those claims and demands with counsel
satisfactory to Indemnitees, and pay all charges of attorneys and all
other cost and expenses of any kind arising from the liability,
damage, loss, claims, demands, or actions.
12. Events of Default. The following events constitute a default of this Agreement:
a. Failure of GlobalWatt to timely, fully, and completely comply with any one or
more of the requirements, obligations, duties, terms, conditions, or warranties of
this Agreement, other than the requirement to create a minimum number of new
jobs or maintain a minimum number of jobs in any year. Section 3.e of this
Agreement provides the exclusive remedy if GlobalWatt fails to create a
minimum number of new jobs or maintain a minimum number of jobs in any year.
b. The Corporation or City determines that any representation or warranty on
behalf of GlobalWatt contained in this Agreement or in any financial statement,
certificate, report, or opinion submitted to the Corporation in connection with this
Agreement was incorrect or misleading in any material respect when made;
c. Any judgment is assessed against GlobalWatt or any attachment or other levy
against the property of GlobalWatt with respect to a claim remains unpaid,
undischarged, or not dismissed for a period of 120 days.
d. GlobalWatt makes an assignment for the benefit of creditors.
e. GlobalWatt files a petition in bankruptcy, or is adjudicated insolvent or
bankrupt.
f. If taxes owed by GlobalWatt become delinquent, and GlobalWatt fails to timely
and properly follow the legal procedures for protest or contest.
g. GlobalWatt changes the general character of business as conducted as of the
date this Agreement is approved by the Corporation.
13. Notice of Default. Should the Corporation or City determine that GlobalWatt is in
default according to the terms of this Agreement, the Corporation or City shall notify
GlobalWatt in writing of the event of default and provide 60 days from the date of the
notice ("Cure Period") for GlobalWatt to cure the event of default.
14. Results of Uncured Default. After exhausting good faith attempts to address any
default during the cure Period, and taking into account any extenuating circumstances
that might have occurred through no fault of GlobalWatt, as determined by the Board of
Directors of the Corporation, the following actions must be taken for any default that
remains uncured after the Cure Period.
a. GlobalWatt shall immediately repay all funds paid by Corporation under this
Agreement.
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
b. GlobalWatt shall pay Corporation reasonable attorney fees and costs of court
to collect amounts due to Corporation.
c. The Corporation shall have no further obligations to GlobalWatt under this
Agreement.
d. Neither the City nor the Corporation may be held liable for any consequential
damages.
e. The Corporation may pursue all remedies available under law.
15. No Waiver.
a. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Agreement, constitutes a waiver of any subsequent breach of
the covenant or condition of the Agreement.
b. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Agreement, justifies or authorizes the nonobservance on any
other occasion of the covenant or condition or any other covenant or condition of
this Agreement.
c. Any waiver or indulgence of GlobalWatt's default may not be considered an
estoppel against the Corporation.
d. It is expressly understood that if at any time GlobalWatt is in default in any of
its conditions or covenants of this Agreement, the failure on the part of the
Corporation to promptly avail itself of the rights and remedies that the
Corporation may have, will not be considered a waiver on the part of the
Corporation, but Corporation may at any time avail itself of the rights or remedies
or elect to terminate this Agreement on account of the default.
16. GlobalWatt specifically agrees that Corporation shall only be liable to GlobalWatt
for the actual amount of the money grants to be conveyed to GlobalWatt , and shall not
be liable to GlobalWatt for any actual or consequential damages, direct or indirect,
interest, attorney fees, or cost of court for any act of default by Corporation under the
terms of this agreement. Payment by Corporation is strictly limited to those funds so
allocated, budgeted, and collected solely during the grant term of this agreement, being
[start date], through [end date]. Corporation shall use its best efforts to anticipate
economic conditions and to budget accordingly. However, it is further understood and
agreed that, should the actual total sales tax revenue collected for any one year be less
than the total amount of grants to be paid to all contracting parties with Corporation for
that year, then in that event, all contracting parties shall receive only their pro rata share
of the available sales tax revenue for that year, less Corporation's customary and usual
costs and expenses, as compared to each contracting parties' grant amount for that
year, and Corporation shall not be liable to for any deficiency at that time or at any time
in the future. In this event, Corporation will provide all supporting documentation, as
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
requested. Payments to be made shall also require a written request from GlobalWatt
to be accompanied by all necessary supporting documentation.
17. Notices.
a. Any required written notices shall be sent mailed, certified mail, postage
prepaid, addressed as follows:
GlobalWatt:
GlobalWatt
2660 N. First Street, Suite 215
San Jose, CA 95134
Corporation:
City of Corpus Christi
Business and Job Development Corporation
Attn.: Executive Director
1201 Leopard Street
Corpus Christi, Texas 78401
b. A copy of all notices and correspondence must be sent the City at the
following address:
City of Corpus Christi
Attn.:City Manager
P.O. Box 9277
Corpus Christi, Texas 78469-9277
c. Notice is effective upon deposit in the United States mail in the manner
provided above.
18. Incorporation of other documents. The Corpus Christi Business and Job
Development Corporation Guidelines and Criteria for Granting Business Incentives
("Corporation Guidelines"), as amended, are incorporated into this Agreement.
19. Amendments or Modifications. No amendments or modifications to this Agreement
may be made, nor any provision waived, unless in writing signed by a person duly
authorized to sign agreements on behalf of each party.
20. Relationship of Parties. In performing this Agreement, both the Corporation and
GlobalWatt will act in an individual capacity, and not as agents, representatives,
employees, employers, partners, joint -venturers, or associates of one another. The
employees or agents of either party may not be, nor be construed to be, the employees
or agents of the other party for any purpose.
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
21. Captions. The captions in this Agreement are for convenience only and are not a
part of this Agreement. The captions do not in any way limit or amplify the terms and
provisions of this Agreement.
22. Severability.
a. If for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Agreement or the application of this Agreement to any
person or circumstance is, to any extent, held illegal, invalid, or unenforceable
under present or future law or by a final judgment of a court of competent
jurisdiction, then the remainder of this Agreement, or the application of the term
or provision to persons or circumstances other than those as to which it is held
illegal, invalid, or unenforceable, will not be affected by the law or judgment, for it
is the definite intent of the parties to this Agreement that every section,
paragraph, subdivision, clause, provision, phrase, or word of this Agreement be
given full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this
Agreement, then the remainder of this Agreement is not affected by the law, and
in lieu of any illegal, invalid, or unenforceable clause or provision, a clause or
provision, as similar in terms to the illegal, invalid, or unenforceable clause or
provision as may be possible and be legal, valid, and enforceable, will be added
to this Agreement automatically.
23. Venue. Venue for any legal action related to this Agreement is in Nueces County,
Texas.
24. Sole Agreement. This Agreement constitutes the sole agreement between
Corporation and GlobalWatt. Any prior agreements, promises, negotiations, or
representations, verbal or otherwise, not expressly stated in this Agreement, are of no
force and effect.
25. Survival of terms of agreement and obligations of parties. The terms of this
agreement and the obligation of the parties relating to [what survives] shall survive the
termination of this agreement.
Corpus Christi Business & Job Development Corporation
By:
Date:
Eloy Salazar
Chairperson
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
Attest:
By:
Armando Chapa
Assistant Secretary
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GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
GlobalWatt
By:
Date:
Sanjeev Chitre
Chief Executive Officer
THE STATE OF TEXAS
COUNTY OF NUECES
This instrument was acknowledged before me on , 2009, by
Sanjeev Chitre, Chief Executive Officer, for GlobalWatt, a Delaware corporation, on
behalf of the corporation.
Notary Public
State of Texas
Page 10 of 10
GlobalWatt BUSINESS INCENTIVE AGREEMENT -- 05212009.doc
BUSINESS INCENTIVE PROJECT SERVICE AGREEMENT
This Business Incentives Project Service Agreement ("Project Service Agreement") is
entered into between the Corpus Christi Business and Job Development Corporation
("Corporation") and the City of Corpus Christi, Texas ("City").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979) empowered local
communities with the ability to adopt an optional local sales and use tax as a means of
improving the economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City passed Proposition 2, New and
Expanded Business Enterprises, which authorized the adoption of a sales and use tax
for the promotion and development of new and expanded business enterprises at the
rate of one-eighth of one percent to be imposed for 15 years;
WHEREAS, the 1/8 cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corporation's Board of Directors;
WHEREAS, the Corporation exists for the purposes of encouraging and assisting
entities in the creation of jobs for the citizens of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentives;
WHEREAS, Section 21 of the Texas Development Corporation Act of 1979, Art. 5190.6,
Vernon's Texas Revised Civil Statutes, requires the City Council to approve all
programs and expenditures of the Corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentives on September 18, 2007;
WHEREAS, GlobalWatt, Inc., has submitted a proposal to the Corporation for
$$2,800,000 for the manufacturing, management, and installation photovoltaic
technology;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas, to fund the manufacturing, management, and installation
photovoltaic technology; and
WHEREAS, the Corporation and GlobalWatt have executed a business incentive
project agreement for the manufacturing, management, and installation photovoltaic
technology.
In consideration of the covenants, promises, and conditions stated in this Project
Service Agreement, the Corporation and the City agree as follows:
GlobalWatt Project Support Agreement 4A -City -- 06012009.doc
Page 1 of 3
Exhibit B
1. Project Service Agreement to Implement Business Incentives Agreement. This
Project Service Agreement between the City and the Corporation is executed to
implement the Business Incentive Agreement for the manufacturing, management, and
installation photovoltaic technology between the Corporation and GlobalWatt ("Business
Incentive Agreement").
2. Term. The term of this Project Service Agreement runs concurrently with the term of
the Business Incentive Agreement.
3. Services to be Provided by City.
a. The City Manager, or the City Manager's designee, shall administer funding
on behalf of the Corporation.
b. The City Manager, or the City Manager's designee, shall perform contract
administration responsibilities outlined in the Business Incentive Agreement for
the Corporation.
4. Appropriation of Funds. Any future payments by the City are subject to
appropriation of funds by City's Council.
5. Effective Date. The effective date of this Project Service Agreement is the latest
date that either party executes this Agreement.
6. Amendments or Modifications. No amendments or modifications to this Project
Service Agreement may be made, nor any provision waived, unless in writing signed by
a person duly authorized to sign agreements on behalf of each party.
7. Severability.
a. If for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Service Agreement or the application of this
Project Service Agreement to any person or circumstance is, to any extent, held
illegal, invalid, or unenforceable under present or future law or by a final
judgment of a court of competent jurisdiction, then the remainder of this Project
Service Agreement, or the application of the term or provision to persons or
circumstances other than those as to which it is held illegal, invalid, or
unenforceable, will not be affected by the law or judgment, for it is the definite
intent of the parties to this Project Service Agreement that every section,
paragraph, subdivision, clause, provision, phrase, or word of this Project Service
Agreement be given full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this Project
Service Agreement, then the remainder of this Project Service Agreement is not
affected by the law, and in lieu of any illegal, invalid, or unenforceable clause or
provision, a clause or provision, as similar in terms to the illegal, invalid, or
Page 2 of 3
GlobalWatt Project Support Agreement 4A -City -- 06012009.doc
unenforceable clause or provision as may be possible and be legal, valid, and
enforceable, will be added to this Project Service Agreement automatically.
8. Captions. The captions in this Project Service Agreement are for convenience only
and are not a part of this Project Service Agreement. The captions do not in any way
limit or amplify the terms and provisions of this Project Service Agreement.
The City of Corpus Christi Corpus Christi Business &
Job Development Corporation
'Angel R. Escobar Eloy Salazar
Interim City Manager Chairperson
Date: Date:
Attest
Armando Chapa
City Secretary
Approved as to Legal Form: , 2008.
R. Jay Reining
First Assistant City Attorney
for City Attorney
Page 3 of 3
GlobalWatt Project Support Agreement 4A -City -- 06012009.doc
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money
required for the current fiscal year's portion of the contract, agreement, obligation or expenditure
described below is in the Treasury to the credit of the Fund specified below, from which it is to be
drawn, and has not been appropriated for any other purpose. Future payments are subject to
annual appropriation by the City Council.
City Council Action Date: June 16.2009
Agenda Item:
Resolution approving a business incentive agreement between the Corpus Christi Business
and Job Development Corporation and GlobalWatt, Inc., for the manufacturing,
management, and installation of photovoltaic technology and authorizing the City Manager,
or designee, to execute a business incentive project support agreement with the Corpus
Christi Business and Job Development Corporation regarding implementation and
administration of the GlobalWatt, Inc., business incentive agreement.
Amount Required: $2,800,000
Fund Name
Fund No.
Org. No.
Account No.
Project No.
Amount
CCBJDC
1140
15010
530000
2,800,000
$
$
$
$
$
Total
$
❑ Certification Not Required
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d4 a
f5 Director of Fi anc ervices
Date: (ohj,D