Page 265 - Grapevine Budget FY21

GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION

RESOLUTION NO. 4B 2020- 001

A RESOLUTION OF THE GRAPEVINE 4B ECONOMIC
DEVELOPMENT CORPORATION OF THE CITY OF
GRAPEVINE, TEXAS, ADOPTING AND PROPOSING A
BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER
1, 2020 AND ENDING SEPTEMBER 30, 2021; PROVIDING
FOR INVESTMENT OF CERTAIN FUNDS AND PROVIDING
AN EFFECTIVE DATE

WHEREAS, the provisions of Article 5190. 6, Texas Revised Civil Statutes, the
Industrial Development Act of 1979, Section 4B, and the Corporation Bylaws adopted by
the Grapevine 4B Economic Development Corporation Board of Directors requires the 4B
Corporation to prepare a budget proposal; and

WHEREAS, the Grapevine 4B Economic Development Corporation has adopted
the same fiscal year as the City of Grapevine; and

WHEREAS, all legal prerequisites for the adoption of this resolution have been
met, including but not limited to the Local Government Code and the Open Meetings Act;
and

WHEREAS, the Grapevine 4B Board hereby declares that the approval of this
resolution is in the best interests of the health, safety, and welfare of the public.

NOW, THEREFORE, BE IT RESOLVED BY THE GRAPEVINE 4B ECONOMIC
DEVELOPMENT CORPORATION OF THE CITY OF GRAPEVINE, TEXAS:

Section 1. That a budget proposal has been prepared by the Grapevine 4B
Economic Development Corporation Board, a copy of which is attached hereto as Exhibit
A»

Section 2. That the Grapevine 4B Economic Development Corporation Board
adopts the proposed operating budget for fiscal year ending September 30, 2021.

Section 3. That the City Manager is hereby authorized to make appropriate
expenditures, transfers and other financial transactions during the fiscal year pursuant to
the Corporation bylaws.

Section 4. That the City Manager, and/or Assistant City Manager and/or Chief
Financial Officer and/ or designated investment officer are authorized to invest any funds
not needed for current use in Official City Depositories, in any investment instrument
authorized by the City's Investment Policy and Investment Strategy and allowed by the
Texas Public Funds Investment Act.

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