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Res 91-08 Approving and Authorizing the Execution of the Contribution AgreementRESOLUTION NO. 8-91 WHEREAS, it is necessary for the widening of State Highway 114 for certain tracts or parcels of land to be acquired; and WHEREAS, some of the tracts are in Westlake and some are in Trophy Club; and WHEREAS, the Town of Trophy Club is desirous of the Town of Westlake acquiring those tracts and the right-of-way situated in Trophy Club pursuant to an interlocal cooperation agreement; and WHEREAS, Maguire/Thomas Partners - Westlake/Southlake Partnership and MTP -IBM Phase II and III Joint Venture has agreed with the State Department of Highways and Public Transportation for the State of Texas to contribute to the purchase of Parcels 9 - Part 2, 9E - Part 2, 10 and 10 TE in an amount not to exceed $250,000.00; and WHEREAS, it is necessary to approve certain agreements between Westlake, Trophy Club and the Maguire/Thomas Partners - Westlake/Southlake Partnership and MTP -IBM Phase II and III Joint Venture; NOW THEREFORE BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS: That the Contribution Agreement by and among the Town of Westlake, Texas, the Town of Trophy Club, Texas and Maguire/Thomas Partners - Westlake/Southlake Partnership and MTP -IBM Phase II and III Joint Venture, attached hereto as Exhibit "A", is hereby approved and the Mayor of the Town of Westlake is hereby authorized to execute the same on behalf of the Town. PASSED AND APPROVED this 1st day of July, 1991. 1 -Dale Whit e, Mayor ATTEST: Ger-jy While, Town Secretary APPROVED AS TO FORM: Paul C. Isham, Town Attorney \373-23.010\012_res