ORD 2014-38TOWN OF TROPHY CLUB, TEXAS
ORDINANCE NO. 2014-38
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS
REPEALING ORDINANCE 2014-09 AND ORDINANCE NO. 2014-19
DESIGNATING A CERTAIN CONTIGUOUS GEOGRAPHIC AREA IN
THE TOWN OF TROPHY CLUB AS "TAX INCREMENT REINVESTMENT
ZONE NUMBER TWO, TOWN OF TROPHY CLUB, TEXAS" (THE
"ZONE") AND ADOPTING PROVISIONS FOR THE CREATION OF A
BOARD OF DIRECTORS FOR THE ZONE; PROVIDING THE
EFFECTIVE AND TERMINATION DATES FOR THE ZONE;
ESTABLISHING A TAX INCREMENT FUND FOR THE ZONE;
CONTAINING OTHER MATTERS RELATED TO THE ZONE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, on April 21, 2014 after having conducted public hearings, the Town
Council passed and approved Ordinance 2014-09 designating a certain contiguous
geographic area in the Town as Tax Increment Reinvestment Zone Number Two, Town
of Trophy Club, Texas, (the "Zone"), creating a Board of Directors, establishing a Tax
Increment Fund, and setting forth other matters relative to the Zone; and
WHEREAS, on duly 22, 2014, the Town Council adopted Ordinance No. 2014-19
amending Ordinance No. 2014-09 in order to adjust the boundaries of the Zone; and
WHEREAS, due to changed circumstances with the development of property
located within the Zone, the Town Council has determined it is necessary and
appropriate to repeal Ordinance No. 2014-09 and Ordinance No. 2014-19 in order to
abolish the Zone; and
WHEREAS, the Town Council has determined that the repeal of Ordinance No.
2014-09 and Ordinance No. 2014-19 by the adoption of this Ordinance No. 2014-38
abolishing Tax Increment Reinvestment Zone Number Two, Town of Trophy Club,
Texas is necessary and serves the best interests of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
Section 1. Incorporation of Premises. The facts and recitations contained in the
preamble of this Ordinance are hereby found and declared to be true and correct and
are adopted as part of this Ordinance for all purposes.
Section 2. Ordinances Repealed. Ordinance 2014-09 and Ordinance No. 2014-19
designating a certain contiguous geographic area in the Town as Tax Increment
Reinvestment Zone Number Two, Town of Trophy Club, Texas, (the "Zone"), creating a
Board of Directors for the Zone, establishing a Tax Increment Fund, and setting forth
other matters relative to the Zone is hereby repealed in its entirety.
ORD 2014-38 1 of 2
Section 3. Effective Date. That this Ordinance shall take effect and be in full force
and effect from and after its adoption.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas,
this the 25th day of November, 2014.
OF -iG�f
y (/
C. Nick Sanders, Mayor
Q Town of Trophy Club, Texas
APPROVED AS TO FORM:
ATTEST: _ 1,
4�/ 0/ %x' -� W,/,,)
Ta r� Ardown Secretary Patricia A. Adams, Town Attorney
TV of Tr6phy Club, Texas Town of Trophy Club, Texas
ORD 2014-38 2 of 2