HomeMy WebLinkAbout021607 RES - 03/16/1993A RESOLUTION
SUPPORTING PASSAGE OF LEGISLATION TO CLARIFY THAT
CREATION OF COUNTY EDUCATION DISTRICTS SHALL HAVE NO
ADVERSE EFFECT ON REINVESTMENT ZONES
WHEREAS,
1. Pursuant to the Texas Tax Increment Financing Act
(Chapter 311, Texas Tax Code), reinvestment zones have been
created to promote development or redevelopment of an area not
likely to otherwise develop.
2. Such zones are dependent for their success, and to pay their
existing debt, on captured increments of increased tax values
for taxing units, including school districts.
3. It should be made clear that the creation of county education
districts to help equalize school funding should not result in
a loss of reasonably anticipated revenues for reinvestment zones.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CORPUS CHRISTI, TEXAS:
SECTION 1. That the City of Corpus Christi supports
legislation necessary to ensure that creation of county education
districts will not adversely affect reinvestment zones.
SECTION 2. That the City Manager and staff, as well as
the Mayor and council members, are authorized to communicate to all
local legislators and other pertinent officials the City's position
expressed in this Resolution, and to take all steps necessary to
support the position expressed herein.
ATTEST:
City Secretary� MAYOR
CITY OF CORPUS CHRISTI, TEXAS
19473
APPROVED: 11 DAY OF
/'1 w r4 (NW ,
JAMES R. BRAY, JR., CITY ATTORNEY
CAttorney
\legres\009
021607
MICROFILMED
March 12, 1993
066
Corpus Christi, Texas
t( day of LI0,3 V , 19 t4,3
The above resolution was passed by the following vote:
Mary Rhodes �L
Cezar Galindo f tA,'�4
Lee -Guerrero
Betty Jean Longoria
Edward A. Martin
Joe -McComb
Dr. David McNichols
Clif Moss
;/
Mary Pat Slavik
021607