Ord 006-2001 1/2/2001lot
ORDINANCE NO. -
ORDINANCE MAKING AN APPROPRIATION FROM THE TAX
INCREMENT FINANCING (TIF) FUND IN THE AMOUNT NOT TO
EXCEED FIFTY THOUSAND DOLLARS ($50,000) TO NORTH TEXAS
VISIONS OF WICHITA FALLS (VISIONS) FOR STAFFING AND
OPERATIONAL PURPOSES AND AUTHORIZING THE CITY MANAGER
TO EXECUTE A CONTRACT; FINDING AND DETERMINING THAT THE
MEETING AT WHICH THIS ORDINANCE WAS PASSED WAS OPEN TO
THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City Council of the City of Wichita Falls finds there is a need to
support economic development in the City and adopted Tax Increment Financing Zone
#1 in 1986; and,
WHEREAS, the proposed project is consistent with the Project Plan for the
Reinvestment Zone #1; and,
WHEREAS, the Tax Increment Financing Board of Directors voted at a meeting
held on December 12, 2000 to recommend funding to the North Texas Visions of
Wichita Falls (Visions) to the City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The preamble stated above is made part of this ordinance.
SECTION 2. TIF funds in an amount not to exceed $50,000.00 be appropriated
to Visions for staffing and operations for a one year period.
SECTION 3. This authorization shall be effective for a period of six months from
the date hereof. In the event, no agreement is executed within this six month period,
the TIF funding authorization shall be rescinded.
SECTION 4. The City Manager is authorized to utilize Tax Increment Financing
funding from Reinvestment Zone #1 to provide these funds and to execute agreements
for this function.
SECTION 5. It is hereby officially found and determined that the meeting at
which this ordinance was passed was open to the public as required by law.
OR
PASSED AND APPROVED this the 2nd day of January 2001.
ATTEST:
City Clerk
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MAYOR
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