HomeMy WebLinkAboutResolution No. 94-47 RESOLUTION R94-47
A RESOLUTION OF THE CITY COUNCIL OF TSI3 CITY OF
FRIFSTDSWOOD, TEXAS, GALVESTON/HARRIS COUNTIES,
$XPRESSING COUNCIL`S INTSNT TO CONSTRUCT, OPSRATE
AND MAINTAIN TSE Cffi3Tffi�iNIAL SPORTS PARK; RL�IRE
BONDED IND�'�'�w'p'SS FC1R THB SPORTS P�RK; AND TO
CREATI� AND NAME TS$ 1�ID8RS �F A CQRPORATI�.
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WH$REAS, the City Council of the City of Friendswood, Texas
has called an Election an January 21, 1995 ta submit to the
voters of the City of Friendswood a propositian for a
One-Half of One Pereent Sa1es Tax increase in accardance
with Section 4B of the Tax Code; and
WHLREAS, the City Council plans to construct, maintain and
operate the Centennial Sports Park with Sa1es Tax Revenue;
and
WHEREAS, the City Council plans to issue Bonds or other
evidence af indebtedness to construct the Sports Park as
soon as possible; and
WHEREAS, in accardance with Section 4B, a Corporation will
be created ta oversee the Sales Tax Revenues; and
WHEREAS, the City Council will appoint seven directors for
two year terms to the Corporation;
NO'W THEREFORE, BE IT RESO!LVSD HY THE CITY COUNCIL OF TS$
CITY OF FRI$NDSWOOD, TEIfAS:
Section 1. It is the intent of the City Council to issue
Bonds or other evidence of indebtedness for the construction,
operation and maintenance of the Sports Park as soan
thereafter as the Sales Tax Election is successfully passed.
Section 2. It is the intent of the City Council to retire
the debt far Centennial Sports Park with the Sales Tax
Revenues first received.
Section 3. It is the intent of the City Council to appoint
four (4) members from the sports graugs and three ( 3) other
members to the Corporation Board.
PASSED, APPROVED AND ADOPTE'D THIS 19TH DAY QF DECSMBER,
1944.
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�
Mayor vely B. Newman
ATTEST:
�
Deloris McKenzie, RMC
City Secretary
R94-47
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