HomeMy WebLinkAbout2018-O-37 - SEDA Budget ORDINANCE NO. 2018-0-37
AN ORDINANCE MAKING APPROPRIATIONS FOR THE SUPPORT OF THE STEPHENVILLE TYPE B
ECONOMIC DEVELOPMENT AUTHORITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND
ENDING SEPTEMBER 30, 2019, AND ADOPTING THE ANNUAL BUDGET OF THE STEPHENVILLE TYPE B
ECONOMIC DEVELOPMENT AUTHORITY FOR THE 2018-2019 FISCAL YEAR.
WHEREAS, the budget for the fiscal year beginning October 1, 2018 and ending September 30,
2019,was duly presented to the City Council by the Stephenville Type B Economic Development Authority;
and
WHEREAS, the salary of the Assistant Director is set at $53,000 until the completion of the city's
salary survey, with $7,000 of the funds allocated to salaries being held until completion of the salary
survey; upon findings that the salary for the Assistant Director is supported at$60,000 per year,the$7,000
will be paid as a lump-sum at that time; and
WHEREAS, upon the release of backstop funds from the Christi Plaza traffic signal,the city and the
Stephenville Type B Economic Development Authority will discuss the use of those funds; and
WHEREAS, the budget and aforementioned amendments were approved at a Special Meeting of
the Stephenville Type B Economic Development Authority Board of Directors on September 27, 2018.
NOW,THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF STEPHENVILLE,TEXAS:
SECTION 1.
That the appropriations for the fiscal year beginning October 1, 2018 and ending September 30, 2019,for
the support of the Stephenville Type B Economic Development Authority be fixed and determined for
said terms in accordance with the expenditures shown in the fiscal year 2018-2019 budget.
SECTION 2. That the budget is hereby approved in all respects and adopted as the Stephenville Type B
Economic Development Authority budget for the fiscal year beginning October 1, 2018 and ending
September 30, 2019.
PASSED and APPROVED this the 2"d day of October,2018.
oF s
trutAgelf_....„%
, r--- = Doug Svien, Mayor
ATTEST: _ * • "' ��/ R'-
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8PORN so‘'
Stac‘IIIPPvi ng,
City Secretary
Reviewed by Allen L. Barnes,
City Administrator
Approved as to form and legality
Randy Thomas, City Attorney
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