HomeMy WebLinkAbout2014-273sAlegal\our documents\ordinances\14\revised tirz 3 ordinance.doc
AN ORDINANCE AMENDING ORDINANCE No. 2014-191, BY APPOINTING TAE
• ' ! OF DIRECTORS F• ' TAX INCREMENTREINVESTMENT ZONE
NUMBER THREE TO BE CONCURRENT.• ! TERMS OF
DATE.THE ECONOMIC DEVELOPMENT PARTNERSHIP BOARD; REPEALLING ALL
CONFLICTING ORDINANCES AND PORTIONS THEREOF; AND PROVIDING AN
EFFECTIVE
WHEREAS, on June 17, 2014, the City Council of the City of Denton, Texas, (the
"City"), adopted Ordinance 2014-191, which designated and described the boundaries of a TIRZ
Number Three; established the duration of the Zone; established a Tax Increment Fund and
established a Board of Directors for the Tax Increment Reinvestment Zone; and
WHEREAS, it is deemed proper to appoint board members concurrently with the
Economic Development Partnership Board appointments; NOW, THEREFORE,
SECTION 1. Section 4, Subsection A of Ordinance 2014-191 is amended as follows:
4. There is hereby established a board of directors for the Zone that shall consist of
up to eleven (11) members. The board of directors of the Tax Increment
Reinvestment Zone Number Three are hereby appointed as follows:
A. Nine (9) of the up to eleven (11) board members are hereby appointed by
the City Council of the City. Board membership shall consist of the nine
(9) members of the Economic Development Partnership Board ("EDP")
Each taxing unit other than the City that contributes incremental taxes to
the TIF Fund may, but is not required to, appoint one member to the
Board. After each taxing unit other than the City designates to the City
either the name of the member that the taxing unit wishes to appoint or the
fact that the taxing unit wishes to waive its right to appoint a member, the
City Council shall appoint whatever number of members are necessary to
fill the remaining positions on the Board. Nine (9) of the up to eleven (11)
member board are hereby appointed by the City Council as provided here.
All members appointed to the board shall meet the eligibility requirements
set forth in the Act.
SECTION 2. All of the other provisions of Ordinance 2014-191 remain in full force and
SECTION 3. If any section, paragraph, clause or provision of this Ordinance shall for
any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such
section, paragraph, clause or provision shall not affect any of the remaining provisions of this
Ordinance.
sAlegal\our documents\ordinances\14\revised tirz 3 ordinance.doc
SECTION 4. This Ordinance is effective June 17, 2014.
PASSED AND APPROVED this the, ��r " '�
�,.w day of �ss� � �.: '� �.. 2014.
JENNIFER WALTERS, CITY SECRETAR]
BY:
Al'i'[ VIED A, O LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY
Ct —...m.
HRIS TC FS, MAYO
Page 2
Ordinance Designating TI>�
City of Denton. Texas