HomeMy WebLinkAboutORD 91-03 - Reinvestment Zone TIFA01
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1 FOR THE CITY OF GEORGETOWN, TEXAS AND
ESTABLISHING DATE.
WHEREAS, on November 13, 1990, in Ordinance No. 900562, the City of Georgetown,
established Reinvestment Zone No. 1, as provided in the Texas Tax Increment Financing Act;
and
WHEREAS, the composition of the Board of Directors for Reinvestment Zone No. 1, was
established with three-year terms for its members, and it was later discovered that the Texas Tax
Increment Financing Act limits the terms of the board members to two years; and
WHEREAS, prior to the appointment of the initial Board of Directors of Reinvestment
Zone No. 1, the City desires to revise the ordinance to establish two-year terms as provided by
the Texas Tax Increment Financing Act;
NOW, THEREFORE,ORDAINED • OF
*F GEORGETOWN,
I.
The facts and recitations contained in the preamble of this ordinance are hereby found and
declared to be true and correct, and are incorporated herein for all purposes.
II.
The second paragraph of Section IV of Ordinance No. 900562 is hereby amended to read
as follows:
The School District member, the County Commissioners' Court member,
and two (2) members appointed by the City of Georgetown, shall serve an initial
term of two (2) years which shall expire on December 31, 1992. The four (4)
remaining members appointed by the City shall serve an initial term of one (1)
year which shall expire on December 31, 1991. As the terms of appointment of
the initial Board Members end, each member subsequently appointed shall serve
a two-year term, which shall begin on January 1st and end on December 31st of
each calendar year, in order that the appointments to the Board are staggered over
a two-year period. The City Council shall designate one (1) member to serve as
Chairman of the Board of Directors and authorizes the Board to elect from its
members a Vice -Chairman and other officers as it sees fit. The City hereby
establishes and adopts By -Laws for the Board of Directors of the Zone, a copy of
which is attached hereto as Exhibit "D", and delegates to the Board the powers
and authority as provided herein.
If any section, paragraph, clause, or provision of this ordinance shall for any reason be
held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph,
clause, or provision shall not affect any of the remaining provisions of this ordinance.
IV.
It is hereby found and determined that the meeting at which this ordinance was adopted
was held in compliance with the Texas Open Meetings Act, Article 6252-17, of the Texas
Revised Civil Statutes,
V.
This ordinance shall be effective immediately upon approval on second reading by the
City Council, signed by the Mayor and attested by the City Secretary.
READ, PASSED AND APPROVED on First Reading this 8th day of January, 1991.
AD, PASSED AND APPROVED on Second and Final Reading this 22nd day of
January, 1991,
APPROVED AS TO FORM:
Marianne Landers Banks
City Attorney
TIF Ordinance -- Page 2 of 4
CITY OF GEORGETOWN
W. H. Connor, Mayor
ATTEST:
�mntira Lee
Deputy City Secretary