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