Ordinance 14-T-13 - GE Oil & Gas Inc Agreement Budget AdjustmentORDINANCE NO. 14 -T -13
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS AUTHORIZING A BUDGET ADJUSTMENT TO THE
DEVELOPMENT INCENTIVE FUND FOR THE DEVELOPMENT
AGREEMENT, GE OIL & GAS INC. INCENTIVE; REPEALING ALL
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT WITH
THIS ORDINANCE; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, pursuant to Ordinance 13 -T -34, the City of Schertz (the "City") adopted the
budget for the City for the fiscal year 2013 -2014 (the "Budge , which provides funding for the
City's operations throughout the 2013 -2014 fiscal year; and
WHEREAS, Resolution 14 -R -14 approved a Development Agreement with GE Oil &
Gas Inc. (the "Development Agreement ") and authorized the infrastructure incentive to
construct, or cause to be constructed, an extension of David Lack Drive as defined in the
Development Agreement; and
WHEREAS, the City needs to adjust the Budget to use up to $200,000 for the
Development Agreement by transferring $200,000 from the Development Incentives Fund to a
new fund designated for the Development Agreement; and
WHEREAS, the Schertz Economic Development Corporation Board of Directors met on
February 27, 2014 to recommend the transfer of funds for the Development Agreement; and
WHEREAS, City staff recommends that the City Council of the City adjust the Budget
and approve transfer of funds for the Development Agreement; and
WHEREAS, the City Council of the City has determined that it is in the best interests of
the City to adjust the Development Incentive Fund to a new fund designated for the
Development Agreement, as more fully set forth in this Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF SCHERTZ, TEXAS:
Section 1. The City shall adjust the Budget and shall use $200,000.00 from the
Development Incentive Fund to a new fund designated for the Development Agreement.
Section 2. The recitals contained in the preamble hereof are hereby found to be true, and
such recitals are hereby made a part of this Ordinance for all purposes and are adopted as a part
of the judgment and findings of the Council.
Section 3. All ordinances and codes, or parts thereof, which are in conflict or
inconsistent with any provision of this Ordinance are hereby repealed to the extent of such
conflict, and the provisions of this Ordinance shall be and remain controlling as to the matters
resolved herein.
Section 4. This Ordinance shall be construed and enforced in accordance with the laws
of the State of Texas and the United States of America.
Section 5. If any provision of this Ordinance or the application thereof to any person or
circumstance shall be held to be invalid, the remainder of this Ordinance and the application of
such provision to other persons and circumstances shall nevertheless be valid, and the City
hereby declares that this Ordinance would have been enacted without such invalid provision.
Section 6. It is officially found, determined, and declared that the meeting at which this
Ordinance is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Ordinance, was
given, all as required by Chapter 551, as amended, Texas Government Code.
Section 7. This Ordinance shall be effective upon the date of final adoption hereof and
any publication required by law.
PASSED ON FIRST READING, the 11 th day of March, 2014.
PASSED, APPROVED and ADOPTED ON SECOND READING, the 18th day of
March, 2014.
ATTEST: \
en a Dennis, City Secretary
(CITY SEAL)
eMaO' C S
penter, Mayor
-2-