O-2013-3482 Canvassing Special 2013 Election

Browse Search

Section 21. That pursuant to the Charter Amendment Election, Proposition Twenty-five, Section 5.05 of the La Porte Charter is amended to read as follows: 5.05. - Borrowing. a. Negotiable notes. In any fiscal year, city council may by resolution authorize borrowing by the issuance and sale of negotiable notes of the city which shall mature and be payable not later than the end of the fiscal year in which the original notes have been issued. All such notes may be sold at not less than par and accrued interest at private sale by the director of the finance department without previous advertisement, but such sale shall be authorized by council. Such notes shall be in anticipation of either of the following: 1. Property taxes. Notes authorized in anticipation of the collection of property taxes in a fiscal year shall be designated "tax anticipation note for the year I I " (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). Capital improvements. 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. Section 22. That pursuant to the Charter Amendment Election, Proposition Twenty-six, Section 5.07 of the La Porte Charter is amended to read as follows: 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 mare 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 in accordance with state law, if required. 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. The annual financial statement, including auditor's opinion on the statement, shall be filed in the office of the municipal secretary within 180 days after the last day of the municipality's fiscal year. The finance statement is a public record. Section 23. That pursuant to the Charter Amendment Election, Proposition Twenty-seven, Sections 6.01, 6.02, 6.03, 6.05, 6.08, and 8.06 of the La Porte Charter are amended to read as follows: 6.01. - Power of initiative. The qualified voters shall have the power to propose any ordinance except an ordinance appropriating money or authorizing the levy of taxes, and to adopt or reject the same at the polls, such power known as the initiative. 21