HomeMy WebLinkAbout06/24/1996 City Council MINUTES OF THE CITY COUNCIL MEETING
HELD ON
JUNE 24, 1996
The Special Session of the City Council of the City of The Colony, Texas was called to order
at 6:30 p.m. on the 24th day of June, 1996, at City Hall with the following Council roll call:
William W. Manning, Mayor Absent (personal)
Bill Longo, Councilmember Present
Mary Watts, Councilmember Present
David Stanwick, Councilmember Present
Wilma Avey, Councilmember Present
John Dillard, Mayor Pro-rem Present
Dave Kovatch, Councilmember Present
and with six present, a quorum was established and the following items were addressed:
1. ROLL CALL
2. PI.EDGE OF ALLEGIANCE
6:31 p.m. Recess
3. EXECUTIVE SESSION AS AUTHORIZED BY SECTION 551.072 OF THE
LOCAL GOVERNMENT CODE RELATING TO REAL PROPERTY, TO-WIT:
A. BILLINGSLEY DEVELOPMENT PROJECT SOUTH OF HIGHWAY 121
7:40 p.m. Reconvene
4. CONSIDERATION OF ANY APPROPRIATE ACTION TO BE TAKEN AS A
RESULT OF THE EXECUTIVE SESSION
Motion to authorize the City Manager to acquire an appraisal report of approximately
15,000 square feet of vacant land located in the southern quadrant of MeKamey Trail and
the Burlington Northern Railroad in The Colony, Denton County, Texas for the purpose of
the extension of Windhaven Parkway - Kovatch; second - Longo, carried with a unanimous
roll call vote.
5. REVIEW AND PRESENTATION OF THE 1996-97 BUDGET YEAR REVENUE
FORECASTS AND PROJECTIONS FOR THE CITY OF THE COLONY
Finance Director, Tony Johnston, presented an overview of the revenue forecasts and
projections to the council for their review and information. Mr. Johnston explained every
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schedule and answered questions from the council. Items addressed included:
Population Projections - Currently a .6% growth rate
Assessed valuation - Using 2.5% average for budgetary purposes
Property Tax Revenues and Property Tax Rate
Sales Tax Revenue - Average of 7.5% increase since 1987
Franchise Tax Revenue - Average of 18.4% increase since 1987
Water and Wastewater Service Revenues
Preliminary Projected Revenues for each Fund
Mr. Johnston explained why some of the funds are reflecting a decrease. For
example, Stewart Creek Park Fund revenues are down because of the level of the lake. He
explained how each of the revenue areas affects the budget.
There followed a general discussion regarding revenue projections. Mayor Pro-tern
Dillard commended Mr. Johnston on a clear and concise report.
With no further business to address, Mayor Pro-tem Dillard adjourned the meeting
at 8:55 p.m.
APPROVED:
J~ Dillard, Mayor Pro-tern
ATTEST:
Patti A. Hicks, TMRC
City Secretary