2015-370sAlegal \our docu ents\ordmances \15 \revised tirz ord to match edp.doc
ORDINANCE NO. 2015 -370
AN ORDINANCE AMENDING ORDINANCE No. 2012 -366, AS AMENDED BY
ORDINANCE 2014 -039, RELATING TO TAX INCREMENT REINVESTMENT ZONE
NUMBER TWO, TO ADD TO THE MEMBERSHIP OF THE BOARD OF DIRECTORS;
REPEALING ALL CONFLICTING ORDINANCES AND PORTIONS THEREOF; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, on December 18, 2012, the City Council of the City of Denton, Texas, (the
"City "), adopted Ordinance 2012 -366, which designated and described the boundaries of a Tax
Increment Reinvestment Zone ( "TIRZ ") Number Two; established the duration of the TIRZ;
established a Tax Increment Fund and established a Board of Directors for the TIRZ; and
WHEREAS, on February 4, 2014, the City adopted Ordinance 2014 -039, which
established term limits concurrent with the Economic Development Partnership ( "EDP ") Board
for the TIRZ Number Two; and
WHEREAS, on September 15, 2015, Ordinance No. 2015 -074 added two new members
to be appointed to serve on the EDP Board, bringing the board membership to eleven; and
WHEREAS, it is deemed proper to establish a TIRZ Number Two board composition
that incorporates the current EDP Board; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. Subsection A and B of Section 4 of Ordinance 2012 -366 and 2014 -039 are
amended as follows:
A, The Board of Directors shall consist of thirteen (13) members, eleven (11) of
whom shall be appointed by the City Council of the City. All members appointed
to the Board shall meet the eligibility requirements set forth in the Act. Board
membership shall consist of the following:
I. The eleven members of the Economic Development Partnership Board
( "EDP ");
2. One member shall be appointed by the governing body of Denton County;
and
3. One member shall be appointed by the "Developer," Rayzor Investments,
LLP.
B. The terms of the board members shall be two -year terms; the eleven (11)
members appointed by City Council will serve terms concurrent with their EDP
terms. A board member may serve no more than three (3) consecutive terms.
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SECTION 2. All of the other provisions of Ordinance 2012 -366 remain in full force and
effect.
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.
SECTION 4. This Ordinance shall become effective immediately upon its passage and
approval. ___...
PASSED AND APPROVED this the mm
day of ... i�:.........__..._ 2015.
...,. ..... m... .. - - - - -- .
(.°1 I M ATTS, MA YOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
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