Page 304 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

2005

In 2005, the Benbrook Council approved the issuance of $2,500,000 in certificates of obligation to provide funds for Tax Increment Financing
(TIF) projects. These debt service payments are to be assumed by the TIF and re-paid to the City of Benbrook when the TIF is financially able
to make these payments. During this certificate of obligation issuance process, the City’s bond counsel advised the City to consider re-financing
existing outstanding general obligation bonds; the City agreed to complete this process and realize savings of over $20,000 for 2005-06 and
for future years. TIF projects include: the Interstate 20 Ramp Location that was completed in the summer of 2006, the Walnut Creek Sewer Line,
and the Benbrook Town Crossing project.

In the fall of 2005, the City solicited proposals for gas lease and drilling rights on City property (including Whitestone Golf Course). The City
owns approximately 211 acres of land with mineral rights in the Whitestone Ranch area. The land includes Whitestone Golf Course, two
undeveloped park sites, and the fire station site. Chesapeake Energy Corporation’s proposal reflected a royalty agreement of twenty-five
percent plus a bonus of $5,700 per acre; the total bonus was approximately $1,207,260. With the receipt of this unexpected windfall, the
Council decided to examine financial goals and to institute specific objectives and restrictions for the natural gas and oil lease proceeds.

In November 2005 during a planning work session, the Benbrook City Council enumerated its goals and objectives for the upcoming fiscal year
and beyond. Several goals, particularly in municipal finance, were discussed for establishing a clear policy direction for the long term. To
articulate these policies on a formal basis, City Staff developed a Core Value Statement. The Core Value Statement is intended to: (1) express
the over-riding priorities of the City, (2) state the character and nature of government in Benbrook, and (3) serve as a guide for future City
Councils.

2006

The City Council met in two work sessions to review and refine the Core Value Statement. The Core Value Statement also establishes specific
financial goals and includes written commitments by the Council. The Core Value Statement represents the fundamental policy of Benbrook
governance. The City Council approved the Core Value Statement at the January 19, 2006 City Council meeting.

In 2006, the Council deliberated adopting an ordinance to prohibit smoking in public buildings; a public building was defined as any facility
that was not a private residence. Council passed the ordinance in August 2006; with an effective date of November 1, 2006. The primary
intention of this ordinance was to protect citizens and visitors from the harmful effects of secondary smoke. The ordinance not only prohibited
smoking within twenty-five feet of any exit or entrance to a public building but also made it unlawful to carry a lighted tobacco product or to
light a tobacco product; owners or operators of public buildings were prohibited from displaying ashtrays, smoking paraphernalia, or signs that
indicate that smoking is permitted. Council weighed and seriously considered the rights of private citizens to smoke versus the effects of
secondhand smoke on members of the community. In 2007, the Council agreed to a one-year exception for specific businesses and organizations;
the one-year exception ended in November 2007.
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