HomeMy WebLinkAbout1518 01-08-2002ORDINANCE NO. 1518
AN ORDINANCE TERMINATING REINVESTMENT ZONE
NUMBER ONE, EULESS, TEXAS; PROVIDING A
SEVERABILITY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council of the City of Euless, Texas, by adopting Ordinance
No. 1163 in accordance with the provisions of the Tax Increment Financing Act,
V.T.C.A., Tax Code, Chapter 311 (the "Act') created a Tax Increment Financing District
known as Reinvestment Zone Number One, City of Euless, Texas; and
WHEREAS, the Development Project proposed for such reinvestment zone did
not occur; and
WHEREAS, the Tax Increment Financing Agreements entered into by and
between the city and Tarrant County, the Tarrant County Junior College District, the
Tarrant County Hospital District and the Hurst - Euless- Bedford Independent School
District have all expired in accordance with their terms; and
WHEREAS, no incremental ad valorem taxes have been collected, and
WHEREAS, no bonds have been issued for the Zone, the city of Euless has not
acquired property in the Zone pursuant to the project plan and construction of
improvements pursuant to the project plan have not been initiated within the statutory
period required by law.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS:
That the facts and recitations contained in the preamble of this ordinance be
found and declared to be true and correct and are hereby incorporated by reference for
all purposes as if same had been restated in this section.
That Reinvestment Zone Number One, City of Euless, Texas, be and the same is
hereby terminated.
III.
That it is hereby declared to be the intention of the City Council that the sections,
paragraphs, sentences, clauses and phrases of this ordinance are severable, and if any
phrase, clause, sentence, paragraph or section of this ordinance shall be declared
invalid or unconstitutional by the valid judgment or decree of any court of competent
jurisdiction, such invalidity or unconstitutionality shall not affect any of the remaining
phrases, clauses, sentences, paragraphs and sections of this ordinance, since the
same would have been enacted by the City Council without the incorporation in this
ordinance of any such invalid or unconstitutional phrase, clause, sentence, paragraph or
section.
IV.
This ordinance shall be in full force and effect from and after its passage and
publication as provided by the Euless City Charter and the laws of the State of Texas.
PRESENTED AND GIVEN FIRST READING AND FINAL READING at a regular
meeting of the Euless City Council on the 8th day of January 2002, by a vote of 7 ayes,
0 nays and 0 abstentions.
APPROVED:
1r i�C7U J"14i)
Mary Lib Sbleh, Mayor
ATTEST:
Susan Crim CMC, City Secretary
APPROVED AS TO FORM:
/6ob McFarland, City Attorney
ORDINANCE NO. 1518, PAGE 2 OF 2