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HomeMy WebLinkAboutRes 121404-JJMESOLUTION NO. 1A 14 0 4— J1 WHIERFAS, the City Council is considering whether to call an election to create corporation under Section 4A of the Development Corporation Act of 1979 [Vernon's Tex. Rev. Civ. Stat. Ann. Art. 5190.6 (Vernon's and Vernon's Supp 2004)] (the "Act "); WHEREAS, the Georgetown City Council has determined that it would be beneficial to express the City Council's intent with regard to how the corporation would be governed and what the purpose(s) of the corporation are prior to an election on the adoption of a sales and use tax under Section 4A of the Act. II • !!' 1 1 • i i !' 1' i, 111 1 [Kill • ! !' • ., The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof, as if copied verbatim. The City Council has found that this action implements the following Century Plan Elements: Policy Statement 1 Citizens of Georgetown experience a stable, self - sustaining economy with expanding job opportunities. Policy Statement 6 All citizens have access to safe and adequate housing opportunities. Policy Statement 9 Parks, open space, recreation facilities and services, and social and cultural activities contribute to an enhanced quality of life for the citizens of Georgetown. The City Council further has found that this action is not inconsistent or in conflict with any other Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan. Resolution No. 1 Section 4A Election Page 1 of 2 Should the proposition meet with voter approval, the City Council will create a Section 4A Development Corporation and, by majority vote of the City Council at an open meeting, appoint five directors to serve as its Board of Directors. The directors shall serve at the pleasure of the City Council and may be removed at any time without cause. Three of the five directors appointed will be current City Councilmembers. A director's term of office shall not exceed six years or, for directors who are Councilmembers, until the end of their term of service on the City Council, whichever is less. The City Council shall approve the Section 4A Development Corporation's Articles of Incorporation by ordinance or resolution. Such Articles of Incorporation shall include a provision that equal consideration shall be given to projects in the following categories: (a) industrial development; (b) commercial development, including but not limited to projects within the Downtown District and redevelopment areas designated by the City Council; and, (c) other categories specifically approved by voters. The facts and recitations contained in the preamble of this resolution are hereby found to be true and correct, and are incorporated by reference herein and made a part hereof, as if copied verbatim. This Order shall be effective immediately upon its approval. RESOLVED this day of d ee r 20C(/ THE CITY OF GEORGETOWN: By: C#Y Nelon, Mayor Approved as to form: R Patricia E. Carls City Attorney Resolution No. l NO Section 4A Election Page 2 of 2 Attest: Sandra D. Lee, City Secretary