04-14-12 Special Meeting of La Porte City Council (council retreat)

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PARTI- CHARTER CHARTER COMPARATIVE TABLE year shall be designated "tax anticipation note for the year (stating the fiscal year). 2. Other revenues. Notes authorized in anticipation of the collection or receipt of other revenues shall be designated "special revenue note for the year (stating the fiscal year). b. Capital improvements. 1. Power and authority to incur indebtedness. The city shall have the power and authority, by ordinance duly adopted, to borrow money on the credit of the city for permanent public improvements and to issue its general obligation bonds, revenue bonds, refunding bonds, certificates of indebtedness, notes, warrants, or other forms of indebtedness pursuant to and in accordance with the present or hereinafter adopted or amended general and special laws of this state applicable to home rule cities, except as such power and authority is expressly limited or denied by this Charter, or any amendments hereto. 2. Referendum on bond ordinance. Each bond ordinance passed pursuant to a purpose which has been authorized by majority vote of the voters of the city at an election shall not be subject to referendum. Each bond ordinance relating to bonds not authorized by the qualified voters of the city shall be subject to permissive referendum on petition pursuant to the provision of Article VI of this Charter, unless the bonds are authorized solely for a purpose made necessary as the result of fire, flood or other disaster, or the bonds are to be issued to finance the improvement or extension of a municipally owned or operated utility or other public service enterprise. 3. Public sale of all bonds. No bonds issued under this Charter shall be sold without first offering the same at public sale. Notice of such sale shall be given by publication at least once in a financial journal published in the State of Texas and by publication at least once in the official newspaper of the city, both of such publications to be made not less than ten (10) days prior to the date set for such sale. 5.06. - Disbursement of funds. All checks, vouchers or warrants for the withdrawal of funds from the city depository shall be executed in accord with the provisions of this Charter and shall be signed by the city manager or his deputy and counter -signed by a member of city council. 5.07. - Independent audit. Prior to the end of each fiscal year, council shall designate a practicing certified public accountant, who is licensed by the State of Texas, to make an independent audit of accounts and other evidences of financial transactions of the city government and shall submit a report to council. Notice shall be given by publication in the official newspaper in the city that the annual audit is on file at the city hall for inspection. Such accountant shall have no personal interest, direct or indirect, in the fiscal affairs of the city government. He shall not maintain any accounts or records of the city business, but, within specifications approved by council, shall post -audit the books and documents kept by the department of finance and any separate or subordinate accounts kept by any other office, department or agency of the city government. State law reference— Audit, V.T.C.A., Local Government Code § 103.001 et seq. Page 20 of 32 La Porte, Texas, Code of Ordinances