HomeMy WebLinkAbout2015-R-12 - Economic Development Type B CorporationCITY OF STEPHENVILLE, TEXAS
Resolution No. 2015-R-12
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STEPHENVILLE, TEXAS, AUTHORIZING THE
STEPHENVILLE ECONOMIC DEVELOPMENT AUTHORITY, A TYPE B ECONOMIC DEVELOPMENT
CORPORATION, TO ACT ON ITS BEHALF TO FURTHER THE PUBLIC PURPOSES STATED IN THE
CERTIFICATE OF FORMATION AND CONSISTENT WITH STATE LAW; APPROVING AND AUTHORIZING
THE FILING OF THE CERTIFICATE OF FORMATION FOR THE STEPHENVILLE ECONOMIC DEVELOPMENT
AUTHORITY; AND PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE.
WHEREAS, on Saturday, May 9, 2015, the eligible voters of the City of Stephenville, Texas, approved
the Type B economic development sales and use tax authorized by Chapter 505 of the
Texas Local Government Code, as amended, at the rate of one -eighth of one -percent;
and
WHEREAS, the City Council of the City of Stephenville, Texas, is authorized to form the Stephenville
Economic Development Authority (hereinafter referred to as the "Corporation"), a Type
B economic development corporation, formed pursuant to Chapter 505 of the Texas
Local Government Code, also referred to as the Development Corporation Act
(hereinafter referred to as the "Act"); and
WHEREAS, pursuant to Section 501.051 of the Texas Local Government Code the City Council of the
City of Stephenville, Texas, finds and determines the creation of the Corporation is
y advisable; and approves the Certificate of Formation proposed to be used in organizing
the Corporation, which is attached hereto as Exhibit A, and is incorporated herein for all
purposes;and
WHEREAS, pursuant to Section 501.056(10) of the Texas Local Government Code the City Council of
the City of Stephenville, Texas, by this Resolution has specifically authorized the
Corporation to act on its behalf to further the public purpose stated in the Resolution,
the Certificate of Formation, and consistent with the Act, and by this Resolution
approves the Certificate of Formation, which is attached hereto as Exhibit A, and is
incorporated herein for all purposes.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STEPHENVILLE,
TEXAS, THAT:
Section 1. FINDINGS INCORPORATED
The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein.
Section 2. AUTHORIZES CORPORATION TO ACT ON ITS BEHALF
The City Council of the City of Stephenville, Texas, has specifically authorized the Stephenville Economic
Development Authority to act on its behalf to further the public purposes stated in the Certificate of
Formation, a copy of which is attached hereto as Exhibit A, and consistent with the Act.
Stephenville Economic Development Authority
Page 1
W
Section 3. AUTHORIZES THE FILING OF THE CERTIFICATE OF FORMATION
The City Council of the City of Stephenville, Texas, does hereby approve the form of the Stephenville
Economic Development Authority's Certificate of Formation, a copy of which is attached hereto as
Exhibit A, and does hereby authorize the taking of all actions necessary including the filing of this
Certificate of Formation with the Texas Secretary of State's office.
Section 4. EFFECTIVE DATE
This Resolution shall become effective from and after its passage.
DULY RESOLVED by the City Council of the City of Stephenville, Texas, on this the 4t" day of
August, 2015.
ATTEST:
f 1
Cindy L. Sta ord, Cify Secrttly
Patrick C. Bridges, dministrator
Reviewed
59
Randy Thomas, City Attorney
Approved as to form and legality
n
Jer K. on II, Mayor
Stephenville Economic Development Authority
Page 2