Page 281 - GrapevineFY24 Adopted Budget

GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION

RESOLUTION NO. 4B 2023-01

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, 2023 AND ENDING SEPTEMBER 30, 2024; 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 constitutional and statutory prerequisites for the approval of this
resolution have been met, including but not limited to the Open Meetings Act and Chapter
211 of the Local Government Code; and

WHEREAS, the City Council deems the adoption of this ordinance to be in the best
interests of the health, safety, and welfare of the public.

NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:

Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.

Section 2.
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 3. That the Grapevine 4B Economic Development Corporation Board
adopts the proposed operating budget for fiscal year ending September 30, 2024.

Section 4. 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 5. 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

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