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Item 5BCity of Southlake, Texas MEMORANDUM January 18, 2002 TO: Billy Campbell, City Manager FROM: John Eaglen, Assistant to the City Manager (481 -1433) SUBJECT: Resolution No. 02 -002, City Council Appointment of the Chair for the Tax Increment Reinvestment Zone Number One Board of Directors for 2002 Action Requested: City Council approval of Resolution No. 02 -002, appointing the Chair for the City of Southlake Tax Increment Reinvestment Zone (TIRZ) Number One for 2002. Background Information: Section 311.009(f) of the Tax Increment Financing Act (the "Act ") states the following: "Each year the governing body of the municipality shall appoint one member of the board to serve as chairman for a term of one year that begins on January 1 of the following year." Resolution No. 02 -002 provides for the City Council's appointment in order to meet this requirement. This appointment has been placed on the TIRZ Board of Directors meeting agenda as a discussion item prior to the City Council's consideration of this item later in the evening. The Resolution has been left blank pending the discussion by the TIRZ Board of Directors and by City Council. Financial Considerations: Not Applicable. Citizen Input/ Board Review: This item is a discussion item on the January 22, 2002 TIRZ Board of Directors meeting prior to the City Council meeting on January 22, 2002. Legal Review: The City Attorneys have been involved in the TIRZ process and can respond to any legal questions or issues which may arise during the course of the meeting. Alternatives: Input towards the discussion and appointment as desired. Supporting Documents: Supporting documents include the following items: • Copy of Resolution No. 02 -002, appointing a chair to the TIRZ Number One Board of Directors for the year 2002. Staff Recommendation: Place as an item on the January 22, 2002 City Council agenda to approve Resolution No. 02 -002, appointing a chair to the TIRZ Number One Board of Directors for 2002. Billy Campbell, City Manager January 18, 2002 Page 2 of 2 JE RESOLUTION NO. 02 -002 A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, APPOINTING A CHAIRPERSON OF THE BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Southlake, Texas (the "City "), after public hearing, passed Ordinance No. 682 creating a Reinvestment Zone as authorized by the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311 (the "Act ") on September 23, 1997; and WHEREAS, Ordinance No. 682 established a Board of Directors to administer the zone; and WHEREAS, the City passed Ordinance No. 761, amending Ordinance No. 682 relating to the manner of appointment and terms of office for the members of the Board of Directors of the Tax Increment Reinvestment Zone Number One on December 7, 1999; and WHEREAS, in accordance with Section 311.009(f) of the Act, the governing body of the municipality that created the reinvestment zone must appoint one member of the board to serve as chair for a term of one (1) year that begins on January 1 of the following year; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS: Section 1. That all matters stated in the preamble of this resolution are true and correct and are hereby incorporated into the body of this resolution as if copied in their entirety. Section 2. That the City Council hereby appoints to serve as chair of the Reinvestment Zone Board of Directors for one (1) year to begin on January 1, 2002. Section 3. That the City of Southlake authorizes and directs that this action be made part of the City's permanent records. Resolution No. 02 -002 January 22, 2002 Page 2 of 2 Section 4. That this resolution shall become effective from and after the date of its passage. PASSED AND APPROVED BY THE CITY COUNCIL SOUTHLAKE, TEXAS on this the day of APPROVED Rick Stacy Mayor ATTEST: OF THE CITY OF 2002. Kim Bush Acting City Secretary