HomeMy WebLinkAbout95-889 04-25-1995RESOLUTION NO. 95-889
AUTHORIZING PARTICIPATION BY THE CITY OF EULESS
AT THE 100% LEVEL IN REINVESTMENT ZONE NUMBER
ONE
WHEREAS, in accordance with the provisions of the Tax Increment Financing Act,
V.T.C.A., Tax Code, Chapter 311 (the "Act "), particularly Section 311.005(a)(5) of the Act,
the City Council of the City of Euless, Texas (the "City "), adopted Ordinance No. 1163,
thereby creating Reinvestment Zone Number One, consisting of an approximately 110 -acre
tract of land near the general location of the interchange of Texas State Highways 360 and
183;
WHEREAS, the City Council of the City of Euless, Texas (the "City "), desires to
promote the development or redevelopment of the above described area within its
jurisdiction;
NOW, THEREFORE, the City does hereby resolve to pay 100% of the taxes levied
and collected against the "captured appraised value of real property" as determined in
Section 311.012 of the Act, in said Reinvestment Zone Number One.
APPROVED AND ADOPTED at a regular meeting of the City Council of the City of
Euless, Texas, on the 25th day of April, 1995, by a vote of 7 ayes, p nays and 0
abstentions.
APPROVED:
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Mary Lib Saldf+l, Mayor
ATTEST:
Susan Crim CMC, City Secretary
APPROVED AS TO FORM:
Lam"'__ �
City Attorney