There shall be such administrative departments as are established
by this Charter and such other administrative departments as may be
deemed necessary by the Town Council and as are established by ordinance,
all of which shall be under the control and direction of the Town
Manager.
The fiscal year of the Town shall begin on October 1st and end
on the following September 30th of each year, but the fiscal year
may be changed by the Town Council by ordinance.
It shall be the duty of the Town Manager to submit an annual
budget not later than thirty (30) days prior to the end of the current
fiscal year to the Town Council for its review, consideration and
revision. The Town Council shall call a public hearing or hearings
on the budget. The Town Council may adopt a budget with or without
amendments. The Town Council may increase or decrease amounts or programs
and may delete any programs or amounts except expenditures required
by law or for a debt service, provided that no amendment shall increase
the authorized expenditures to an amount greater than the total of
the estimated income for the current fiscal year plus funds available
from prior years. At the close of each fiscal year, the unencumbered
balance of each appropriation shall revert to the fund from which
it was appropriated and shall be subject to future appropriations,
but appropriations may be made in furtherance of improvements or other
objects of work of the Town that will not be completed within the
current year.
If the Town Council fails to adopt the budget by September 30th,
the amounts appropriated for the current fiscal year shall be deemed
adopted for the ensuing fiscal year on a month to month basis with
all items in it prorated accordingly until such time as the Town Council
adopts a budget for the ensuing fiscal year. The levy of property
tax will be set to equal the total current fiscal year tax receipts,
unless the ensuing fiscal year budget is approved by September 30th
of the current fiscal year.
The Town shall have the power to borrow money on the faith and
credit of the Town. The Town shall also have the authority to issue
or sell bonds, warrants, certificates of obligation, notes or other
securities authorized by the laws of the State of Texas for permanent
public improvements or for any other public purpose not prohibited
by the Constitution and laws of the State of Texas and to issue refunding
bonds to refund outstanding bonds and other evidences of indebtedness
of the Town previously issued. All such bonds shall be issued in conformity
with the laws of the State of Texas.
The Town shall further have the power to borrow money for the
purpose of constructing, acquiring, improving, extending or repairing
of public utilities, recreational facilities or any other self-liquidating
municipal function not prohibited by the Constitution and laws of
the State of Texas, and to issue revenue bonds to evidence the obligations
created thereby. Such bonds shall be a charge upon and payable from
the properties, or interest therein pledged, or the income there from,
or both. The holders of the revenue bonds of the Town shall not have
the right to demand payment thereof out of monies raised or to be
raised by taxation. All such bonds shall be issued in conformity with
the laws of the State of Texas. The Town shall have the power to borrow
money for public improvements in any other manner provided by law,
including certificates of obligation as authorized by Chapter 271
of the Texas Local Government Code. All bonds and evidences of indebtedness
of the Town having been approved by the Attorney General and registered
by the Comptroller of Public Accounts shall thereafter be incontestable
in any court or other forum for any reason, and shall be valid and
binding obligations of the Town in accordance with their terms for
all purposes.