HomeMy WebLinkAbout08/27/2003 City Council 007889
August 28, 2003
MINUTES OF SPECIAL SESSION OF COUNCIL
HELD ON
AUGUST 27, 2003
The Special Session of the City Council of the City of The Colony, Texas, was called to order at 7:02
p.m. on the 27th day of August 2003, at City Hall, 6800 Main Street, The Colony, Texas, with the
following roll call:
John Dillard Mayor Present
Allen Harris Councilmember Absent
Scott Ward Councilmember Present
Joe McCourry Councilmember Present
Lynda Bayliss Councilmember Present
Perry Schrag Councilmember Present
Joel Marks Councilmember Absent
And with five present a quorum was established and the following items were addressed:
1. Public Hearing to discuss the proposed 2003-2004 tax rate of $ .72 per $100 valuation
for the taxable value of all property real and personal, located within the city of The
Colony.
Mayor Dillard asked Finance Director Rebecca Koo to review the proposed tax rate. She explained
the method of calculation and used an example for an average home. She also explained the state's
requirements for publishing notices regarding the proposed tax rate. Additionally, Ms. Koo showed
a graph of The Colony's tax rates for the last several years, noting that since 1993 the city's tax rates
have been gradually declining.
Public hearing opened at 7:05 p.m.
Citizens who spoke asked several questions to include additional explanation of the contents of the
advertisement (Notice of Public Heating on Tax Rate). It was explained that the Council has not yet
voted on the tax rate but will do so on September 8, 2003. Discussion followed as to the amount of
surplus (fund balance) the city currently has on hand and the reasons for it. Tony Johnston explained
the bond rating process and how the city is currently rated.
A question arose regarding the current SRF loan/payments, as well as the upcoming bond issuance
and it's purpose. Asst. City Manager Tony Johnston explained the SRF loan, stating that it would be
paid off in approximately 4 years. A question regarding the plans for South Colony Blvd.
reconstruction was raised and City Manager Dale Cheatham explained the job was out for bid and
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should take about a year to complete.
Council member Perry Schrag spoke about some emails he had been receiving regarding the property
tax rates. He broke down the percentage of the county, LISD and the city and stated that the city,
with its good management, has not been part of the problem but the solution for homeowners. He
encouraged residents to be aware of issues that can impact property taxes and to vote when the
opportunity presents itself. He mentioned the upcoming constitutional amendment election on
Septemberl3th. Mayor Dillard added that homeowners have the option ofcontesting their appraised
value on their property each year when the county sends out the notices.
Public heating closed at 7:45 p.m.
With no further business to discuss the meeting adjourned at 7:45 p.m.
?PROVED: .
hn Dillard, Mayor
AT/T'}ESTh , ~
Cl~stie Wilson, Deputy City Secretary