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Res 11-29 Authorizing Submittal of an Invoice to Texas Student Housing Authority TOWN OF WESTLAKE RESOLUTION 11-29 A RESOLUTION BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS, AUTHORIZING THE TOWN MANAGER TO SUBMIT AN INVOICE FOR MANAGEMENT OVERSIGHT FEES TO THE TEXAS STUDENT HOUSING AUTHORITY. WHEREAS, the Westlake Town Council's Approved Strategic Plan is centered around a vision statement that identifies leadership as an important component of the Town's future as well as its community identity; and, WHEREAS, this vision component of leadership has been expressed in a number of ways since the Town of Westlake's inception, including the establishment of the Texas Student Housing Authority (TSHA) to promote higher education for Texas children through the provision of college housing scholarships; and WHEREAS, TSHA has been successful in achieving its intended purpose; the management oversight the costs for which TSHA has previously paid to the Town of Westlake on a periodic basis; and WHEREAS, Town of Westlake has not been paid a management oversight fee by TSHA in the past four (4) fiscal years and the Town Council wishes to receive said management oversight fees for that time period at $100,000 annually for a total invoice amount of$400,000 for the time period of FY 07-08 through FY 10-11; and WHEREAS, the Town Council finds that the passage of this Resolution is in the best interest of the citizens of Westlake. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: THAT, all matters stated in the Recitals hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety. SECTION 2: THAT, the Town Council of the Town of Westlake, Texas, hereby authorizes the Town Manager to submit an invoice to the TSHA Board of Directors for their consideration in the amount cited above in this resolution's recitals on behalf of the Town of Westlake. SECTION 3: THAT, said management oversight fee, once received by the Town of Westlake, will be reserved only by the Town Council for uses only approved by the Town Council. Resolution 11-29 Page 1 of 2 SECTION 4: If any portion of this Resolution shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Resolution without the invalid provision. SECTION 5: That this resolution shall become effective from and after its date of passage. PASSED AND APPROVED ON THIS 3Ri) DAY OF OCTOBER, 2011.. N OF LaurWheat, Mayor ATTEST: '•• r'F%C A S KellEdwalids, Town Secretary Thomas E. Bryme , To n Manager APPROV , , .1S T RM: tanton(2 o ;Attorney Resolution 11-29 Page 2 of 2