HomeMy WebLinkAboutTax Increment Finance (TIF) Resolutions (R-00-01)-06/15/2000
RESOLUTION R-OO-l
A RESOLUTION REGARDING MEETINGS OF THE COLLEYVILLE
TAX INCREMENT FINANCING BOARD AND
PROPOSED CHANGES TO PROJECTS OR FINANCING
WHEREAS, Chapter 311 of the Texas Tax Code governs tax increment financing; and
WHEREAS, the purpose and goal of a Tax Increment Financing District is to promote economic
development, the viability of existing businesses and to attract new commercial enterprises to the
area; and
WHEREAS, the taxing entities are participating in the Colleyville Tax Increment Financing District
based on the understanding that the participation in the creation of the tax increment reinvestment
zone should have the desired effect of expanding the tax base, the benefit of all taxing units which
levy taxes in the proposed reinvestment zone; and
WHEREAS, the Board of Directors of the TIF District encourages the City ofColleyville to place
maximum emphasis on the development of commercial enterprises through its implementation of
the TIF Plan as agreed.
NOW THEREFORE, BE IT RESOLVED BY THE COLLEYVILLE TAX INCREMENT
FINANCING BOARD OF COLLEYVILLE, TEXAS
Section 1. No changes in the TIF plan or financing should take place without the TIF Board's
ap~roval and, where necessary, the approval of the approp~. i te governing authority of the taxing
entIty ...c. r
/." /...t'J) ·
Section 2. The TIF Board of Directors meet!~arterlY to receive reports from the Colleyville City
Manager concerning the status of the TIF District, developments, problems or recommendations.
AND IT IS SO RESOLVED.
PASSEO-BY A VOTE OF I AYES,
THE .J..:L DAY OF ~""I1-e-
I() NAYS, AND t/' ABSTENTIONS ON THIS
, 2000.
AfTEST:
COLLEYVILLE TAX
INCREMENT INANCING BOARD
I
~~
Chairman