HomeMy WebLinkAboutOrdinances (O-05-1547)-09/20/2005
ORDINANCE 0-05-1547
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS,
APPROVING AND ADOPTING THE ANNUAL BUDGET FOR THE COLLEYVILLE
ECONOMIC DEVELOPMENT CORPORATION, FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2005 THROUGH SEPTEMBER 30, 2006; A COPY OF SAME BEING ON
FILE IN THE OFFICE OF THE CITY SECRETARY; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the by-laws of the Colleyville Economic Development Corporation require
the Board of Directors of the Corporation to adopt a budget of proposed
revenues and expenditures and the budget must be formally approved by the
City Council; and
WHEREAS, on August 23, 2005, the Board of Directors of the Colleyville Economic
Development Corporation approved the following budget for expected
revenues and expenditures; and
WHEREAS, the Colleyville Economic Development Corporation Board of Directors and
the City Council have determined that the projects, included in the annual
budget for the fiscal year beginning October 1, 2005, through September 30,
2006, further the objectives of the purpose of the Colleyville Economic
Development Corporation, as established by the electorate of the City and
the provisions of state statute; and
WHEREAS, all statutory and constitutional requirements for the passage of this
Ordinance have been adhered to, including but not limited to the Open
Meeting Act and the Texas Tax Code; and
WHEREAS, the City Council determines that the passage of this Ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT all matters stated hereinabove are found to be true and correct and
are incorporated herein by reference as if copied in their entirety,
Sec. 2.
THAT the budget of the proposed revenues and expenditures for the fiscal
year beginning October 1, 2005, and ending September 30, 2006, for the
Colleyville Economic Development Corporation, a copy of which is on file in
the office of the City Secretary, is hereby made a part of this ordinance by
reference and is hereby approved and adopted by the City Council of the
City of Colleyville, Texas, as the official budget for the fiscal year beginning
October 1,2005, and ending September 30,2006,
Sec. 3.
THAT the revenue and expenditure amounts for the Fiscal Year 2006 budget
for the Colleyville Economic Development Corporation are hereby fixed as
follows:
Ordinance 0-05-1547
Page 2 of 2
Revenues
Expend itures
$ 1,788,100
$ 1,520,928
Sec. 4.
THAT the City Manager is hereby authorized to execute all contracts and
documents for which funding is appropriated in the aforementioned budget.
Sec. 5.
THAT this Ordinance shall take effect upon its passage.
AND IT IS SO ORDERED.
I The first reading and public hearing being conducted on September 6, 2005.
The second reading and public hearing being conducted on September 20,2005.
CITY OF COLLEYVILLE
~~,
DaVi;{ Kelly '-----" 0
Mayor
APPROVED AS TO FORM AND LEGALITY:
~ In. p,ft
Matthew C.G, Boyle
City Attorney