R-2010-22 ratify projected increase in property tax revenues collected as reflected in FY 2010-2011 Budget

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RESOLUTION NO. 2010-~ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE FISCAL YEAR 2010-2011 BUDGET, IN ACCORDANCE WITH SECTION 102.007 (C) OF THE TEXAS LOCAL GOVERNMENT CODE, FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW, AND PROVIDING AN EFFECTIVE DATE HEREOF. WHEREAS, pursuant to Section 102.007(c) of the Texas Local Government Code, effective September 1, 2007, the adoption of a budget that will require raising more revenue from property taxes than in the previous year requires a separate vote of the governing body to ratify the increased revenues reflected in the budget; and WHEREAS, the Fiscal Year 2010-2011 budget will raise more revenue from property taxes than the previous year because despite no change in the actual property tax rate from $0.71 per $100 value in the Fiscal Year 2009-2010 to $0.71 per $100 value in Fiscal Year 2010-2011, the revenue from the assessment of property taxes will create more revenue than last year due to new improvements placed on the tax rolls. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: Section 1. The City Council of the City of La Porte hereby ratifies the property tax revenue increase reflected in the Fiscal Year 2010-2011 budget. Section 2. The City Council officially finds, determines, recites, and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times during which this resolution and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 3. This Resolution shall be effective from and after its passage and approval.