HomeMy WebLinkAboutResolution 2004-069
RESOLUTION NO. 2004-069
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NORTH
RICHLAND HILLS, TEXAS ADOPTING GUIDELINES AND CRITERIA
FOR THE USE OF 48 FUNDS FOR ECONOMIC DEVELOPMENT
PURPOSES
WHEREAS, the Legislature of the State of Texas passed the Development
Corporation Act of 1979 allowing cities to hold an election to adopt a sales and use tax for
the promotion of economic development and quality of life purposes; and
WHEREAS, the City of North Richland Hills held and passed a referendum election
on August 8, 1992 for the purpose of the levy and collection of an additional one-half of
one percent sales and use tax pursuant to the provisions of Article 5190.6, Section 4B,
Vernon's Texas Civil Statues, for the purpose of providing parks and park facilities, ball
parks, open space improvements, and other facilities permitted by the Act; and
WHEREAS, the City of North Richland Hills must become and remain competitive
with other localities across the nation in the expansion of their existing commercial base
and the attraction of new commercial investments; and
WHEREAS, the Mayor and City Council of North Richland Hills believe it is
essential to look forward and plan for future economic viability to support a high standard
quality of life in North Richland Hills; and
WHEREAS, funds from the 4B tax have been used over the past decade to
enhance the quality of life in the City of North Richland Hills through improved parks and
open space improvements that include but are not limited to NRH20 Family Water Park,
numerous neighborhood parks, hike and bike trail systems and enhanced park and
recreation facilities; and
WHEREAS, the Mayor and City Council believe that public 4B funds should also
be used to partner with private investments to create and stimulate growth in property and
sales tax revenues to provide for an ever increasing demand for quality of life services;
and
WHEREAS, the Mayor and City Council further believe that to move forward and
address future needs of citizens, businesses and the community it is important to
establish a fund out of the 4B tax revenues for Economic Development purposes; and
WHEREAS, the Mayor and City Council have determined that the use of 4B funds
may also be useful to enhance development projects or re-development areas.
NOW, THEREFORE be it resolved that the North Richland Hills City Council does
hereby adopt the attached "Guidelines and Criteria" for the use of 4B Sales Tax Funds for
Economic Development purposes within the City of North Richland Hills, Texas.
PASSED AND APPROVED this 11 th day of October, 2004.
CITY OF NORTH RICHLAND HILLS
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By:
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Patricia Hutson, City Secretary