(a)
The articles of incorporation of the corporation attached to Ordinance
1122 as exhibit “A” and incorporated herein by reference
as a part hereof for all purposes, are hereby approved and the city
council hereby authorizes the filing of the articles of incorporation
with the secretary of state in accordance with the act.
(b)
The bylaws of the corporation attached to Ordinance 1122 as exhibit
“B” and incorporated herein by reference as a part hereof
for all purposes are hereby approved.
(c)
There shall be and is hereby adopted and levied a sales and use tax within the city for the benefit of the corporation at a rate of one-half of one percent on the sales of items at retail and a use tax at the same rate on the use, storage or other consumption within the city of tangible personal property purchased, leased or rented from a retailer during such time as such tax is effective within the city. Such tax shall be imposed, computed, administered, collected and remitted in accordance with V.T.C.A., Tax Code chapter 321, except as inconsistent with chapter 505 of the Texas Local Government Code. The effective date of the tax adopted and levied by this section and imposed by section 4B of the act is October 1, 2010, which is the first day the tax may be imposed after complying with the requirements of the act and the Tax Code.
(d)
In accordance with V.T.C.A., Tax Code, section 321.405, the city
secretary has previously furnished the comptroller of public accounts
with the official results of the election held May 8, 2010, and the
comptroller has notified the city secretary that her office is prepared
for the administration of the tax.
(Ordinance 1122 adopted 10/21/10)
