ORDINANCE NO. 3676

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MIS-SION, TEXAS ADOPTING APPROPRIATIONS FOR THE SUPPORT OF THE MISSION ECONOMIC DEVELOPMENT CORPORATION FOR FISCAL YEAR BEGINNING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2011.

WHEREAS, the Mission Economic Development Corporation budget for the fiscal year beginning October 1, 2011 and ending September 30, 2012 was duly filed with the City Secretary and presented to the Mission Economic Development Corporation and a public hearing was caused to the given by the Corporation and said notice was published in the “Progress Times” and said public hearing was according said notice;

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MISSION, TEXAS THAT:

SECTION 1

That the appropriations for the fiscal year beginning October 1, 2011 and ending September 30, 2012 for the support of the corporation be fixed and determined of said term in accordance with the expenditures shown in the Corporation’s fiscal year  2011/2012 budget, a copy of which is attached hereto and made a part hereof for all purposes.

SECTION 2

That the submitted budget, is hereby approved in all respects and adopted as the Corporation’s budget for the fiscal year beginning October 1, 2011, and ending September 30, 2012 in the amount of $2,486,066.

SECTION 3

That there is hereby appropriated the amount shown in said budget necessary to provide for the retirement of the bonded indebtedness of said Corporation in the amount of $665,198 included within the above stipulated amounts.

PASSED and APPROVED on this reading, this the 12th day of September, 2011.                                                                             Norberto Salinas, Mayor

ATTEST: Anna Carrillo, City Secretary