HomeMy WebLinkAboutCDCRes2019.08.01ANNA COMMUNITY DEVELOPMENT CORPORATION
RESOLUTION NO. 7,, 1 • 2�O 1 q
A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION
ADOPTING THE FY 2019-2020 FISCAL YEAR BUDGET AND AUTHORIZING
PUBLICATION OF NOTICE OF PROJECTS
WHEREAS, to be effective October 1, 2019, the Anna Community Development
Corporation (the "CDC") and subject to approval of the City of Anna City Council, the
Board of directors of the CDC desires to approve and adopt the CDC budget for the 2019-
2020 fiscal year;
WHEREAS, the Board of Directors of the Anna Community Development Corporation
(the "Corporation"), created by the City of Anna, Texas (the "City"), in accordance with
Article 5190.6, V.A.T.C.S., Section 4B, and now operating under Texas Local
Government Code, Chapter 505 (the "Act") has determined that it is advisable and in the
best interests of the Corporation to give notice of the intention of the Corporation to
undertake the following projects:
land and building improvements, equipment purchases, park facilities and
improvements, capital expenditures, targeted infrastructure, site improvements,
promotional expenditures, engineering and/or legal services, administrative
personnel services, and other purposes permitted by law, in order to provide improved
community development and/or to promote new or expanded business enterprises for
the benefit of the public. The costs of the Projects are estimated not to exceed
$1,148,770 including but not limited to the specific projects or general types of projects
set forth in the Anna Community Development Corporation's 2019-2020 fiscal year
budget.
The Projects will be financed and/or paid from the proceeds of sales tax revenue and other
resources of the Corporation.
WHEREAS, such projects are authorized pursuant to Section 505.158, Texas Local
Government Code; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was passed, was open to the public and public notice of the time, place, and
purpose of said meeting was given, all as required by Chapter 551, Texas Government
Code;
NOW THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY
DEVELOPMENT CORPORATION, THAT:
Section 1. Recitals Incorporated
CDC OF ANNA, TEXAS RESOLUTION NO � '- f • �/ C% PAGE 1 OF 2
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Adoption of Fiscal Year 2019-2020 Budget
The CDC Board of Directors hereby approves adopting the. Anna Community
Development Corporation 2019-2020 fiscal year budget as set forth in Exhibit A, attached
hereto and incorporated herein for all purposes as if set forth in full, subject to approval
by the City of Anna City Council.
PASSED AND APPROVED by the Anna Community Development Corporation this
day of , 2019.
APPROVED:
Anthony Ri6ardAoo, CDC President
ATTEST:
Rocio Gonzalez, C Se re ary
CDC OF ANNA, TEXAS RESOLUTION NO �� 1- 2,,U 1 q PAGE 2 OF 2