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HomeMy WebLinkAboutRes 052405-RRESOLUTION .:' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS APPOINTING DIRECTORS TO THE 4A DEVELOPMENT CORPORATION FOR THE PURPOSES AUTHORIZED IN THE DEVELOPMENT CORPORATION ACT OF 1979, AS AMENDED (ARTICLE 5190.6 VERNON'S TEX. REV. CIV. STAN, ANN.), AND BY THE VOTERS OF THE CITY OF GEORGETOWN, TEXAS AT THE ELECTION HELD ON MAY 7, 2005; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, at an election duly called and held on May 7, 2005 a majority of the voters of the City of Georgetown approved the following Proposition: The adoption of a sales and use tax within the city for the promotion and development of new and expanded business enterprises at the rate of one -eighth of one percent and the adoption of an additional sales and use tax within the city at a rate of one -eighth of one percent to be used to reduce the property tax rate, as authorized by Section 4A of the Development Corporation Act of 1979, as amended (Article 5190.6 Vernon's Tex. Rev. Civ. Stan. Ann.). WHEREAS, the Development Corporation Act of 1979, as amended, (Article 5190.6 Vernon's Tex. Rev. Civ. Stan. Ann.) (the "Act") requires that a corporation created under Section 4A of the Act be governed by a five (5) member board of directors who are appointed by a majority vote of the City Council at an open meeting for a term of office not to exceed six (6) years, unless the articles of incorporation or the bylaws specify a shorter time; and WHEREAS, by Resolution No. 12404-JJ, the City Council declared it is intent to appoint five (5) directors to serve as the Board of Directors of the 4A Corporation. The Resolution further stated that three (3) of the five (5) directors appointed would be current City Council Members, and that a director's term of office shall not exceed six years or, for directors who are Council Members, until the end of their term of service on the City Council, whichever is less. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS HEREBY RESOLVES AS FOLLOWS. Section 1: The following persons are hereby appointed as Directors of the City of Georgetown's 4A Development Corporation: Rick Smith, Ron Shelley, Henry Carr, Ben Oliver and Farley Snell Section 2: Each of the persons appointed as a Director who is a current City Council Member shall serve a term as Director that ends on the first to occur of any of the following dates: (a) that date that their term as City Council Member ends; (b) the date specified in the Articles of Incorporation or Bylaws for the 4A Corporation; or (c) the date that is six (6) years after the effective date of this Resolution. Resolution No. a io Appointing Directors to 4A Development Corporation May 24, 2005 Page t of 2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS APPOINTING DIRECTORS TO THE 4A DEVELOPMENT CORPORATION FOR THE PURPOSES AUTHORIZED IN THE DEVELOPMENT CORPORATION ACT OF 1979, AS AMENDED (ARTICLE 5190.6 VERNON'S TEX. REV. CIV. STAN. ANN.), AND BY THE VOTERS OF THE CITY OF GEORGETOWN, TEXAS AT THE ELECTION HELD ON MAY 75 2005; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, at an election duly called and held on May 7, 2005 a majority of the voters of the City of Georgetown approved the following Proposition: The adoption of a sales and use tax within the city for the promotion and development of new and expanded business enterprises at the rate of one -eighth of one percent and the adoption of an additional sales and use tax within the city at a rate of one -eighth of one percent to be used to reduce the property tax rate, as authorized by Section 4A of the Development Corporation Act of 1979, as amended (Article 5190.6 Vernon's Tex. Rev. Civ. Stan. Ann.). WHEREAS, the Development Corporation Act of 1979, as amended, (Article 5190.6 Vernon's Tex. Rev. Civ. Stan. Ann.) (the "Act") requires that a corporation created under Section 4A of the Act be governed by a five (5) member board of directors who are appointed by a majority vote of the City Council at an open meeting for a term of office not to exceed six (6) years, unless the articles of incorporation or the bylaws specify a shorter time; and WHEREAS, by Resolution No. 121404-JJ, the City Council declared its intent to appoint five (5) directors to serve as the Board of Directors of the 4A Corporation. The Resolution further stated that three (3) of the five (5) directors appointed would be current City Council Members, and that a director's term of office shall not exceed six years or, for directors who are Council Members, until the end of their term of service on the City Council, whichever is less. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS HEREBY RESOLVES AS FOLLOWS. Section l: The following persons are hereby appointed as Directors of the City of Georgetown's 4A Development Corporation: Resolution No. 0 Appointing Directors to 4A Development Corporation May 24, 2005 Page 1 of 2 Section 2: Each of the persons appointed as a Director who is a current City Council Member shall serve a term as Director that ends on the first to occur of any of the following dates: (a) that date that their term as City Council Member ends; (b) the date specified in the Articles of Incorporation or Bylaws for the 4A Corporation; or (c) the date that is six (6) years after the effective date of this Resolution. Section 3: Each of the persons who are not current City Council Members shall serve a term as Director that ends on the first to occur of any of the following dates: (a) the date specified in the Articles of Incorporation or Bylaws for the 4A Corporation; or (b) the date that is six (6) years after the date of this Resolution. Section 4: It is found and determined that City Secretary posted written notice of the date, place and subject of this meeting on the bulletin board located outside of City Hall, a place convenient and readily accessible to the general public, and said notice was posted and remained posted continuously for at least 72 hours preceding the scheduled time of the meeting, and that the meeting was an open meeting held in compliance with the Texas Open Meetings Act. THIS RESOLUTION shall take effect immediately upon its final passage. PASSED, AND APPROVED, on this 24th day of May, 2005. CTCWFn ATTEST: x £ar Sandra D. Lee, City Secretary Resolution No. Appointing Directors to 4A Development Corporation May 24, 2005 Page 2 of 2 AS TO FORM: tricia E. Carls, City Attorney