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City seeks higher interest on investments

20110617-city-of-mission-bldgMISSION — Because the City of Mission’s funds that are currently invested in CD’s with TEXPOOL and in money market accounts are currently giving low interest rates, the Mission City Council voted in the June 27 meeting to make changes.

In March, the city asked for information from banks and security companies that might have higher yields.

Finance Director Janie Flores said the city needs to meet necessary cash flow needs, increase earnings on its investments and ensure that all funds are secured. Flores said at least three qualified broker/dealers would be maintained to assure competitive bidding.

Five banks or security companies have responded. Flores asked that the contracts of all five responders be approved for potential investment of city funds.

Flores explained that currently the city loses money if a CD is cashed in early. Under the new system of secured savings, the city would earn money on its investments from the first day the money was invested until the day it was drawn out without losing any funds due to early withdrawal.

In other items, tax collections as of May amounted to a total adjusted tax levy of  $17.8 million. Of that amount, $16.6 million, or 93.25 percent, of the total tax levy has been collected.

The city accepted donation of a fire truck from Metro Fire Apparatus Specialist, Inc. that has been declared surplus. Fire Chief Rick Saldaña said the 1989 model 95-foot ladder truck would be donated to one of Mission’s Sister Cities.

Under zoning matters, the city’s policy regulating garage sales permits for institutional organizations was amended. The new policy requires that the institutional organization requesting the permit be a non-profit organization. For other organizations, the city manager will review and decide whether or not to process the garage sale application. The city council will review church or institutional permit applications and decide whether to issue the permit. The request for the garage sale must be made in writing on the institution’s letterhead from a person in authority at said institution.

No flea markets where families selling their own personal goods to raise funds for their personal use will be permitted. Restrooms must be made available for the public.  The city council will decide how long the garage sale permit will be valid.

Under zoning matters, a conditional use permit for sale and on-site consumption of beer and wine at Freebird’s World Burrito, located at 2521 E. Expressway 83 was approved. In later action the site was granted a wet designation for sale and on-site consumption of alcoholic beverages.

Final plat approval of Riverside Estates at Sharyland Subdivision to be constructed on 17.80 acres was approved. The lots are east of the intersection of San Miguel and Shary roads. The approval requires that a hedge be kept along the drainage ditch to keep people from walking into the ditch and providing for walkway markings through the commercial parking lot planned for the commercial site. In addition to a commercial site, 32 residential lots are planned.

Rezoning of the South 160 feet out of Lot 37, Bell-Wood Company’s Subdivision “C” from AO-I to C-1 was approved. The site is the northwest corner of 2 Mile Line and Compton roads. It will be used for a small commercial complex suitable for small offices or restaurants.

The council approved a resolution authorizing the city manager to execute a multiple use agreement between the Texas Department of Transportation and the city for installation of bus shelters and other related improvements.

The four bus shelters are to be located at 204 S. Shary Rd., 301 W. Griffin Pkwy., 1900 E. Griffin Pwky. and 721 N. Bryan Rd. at the Parks and Recreation Building site. All four shelters will be located on state highway right-of-way and will be operated by the state. The action was approved subject to the mayor’s approval of the sites and the city attorney’s approval of the final legal wording.

An amendment of the bylaws for the Mission Economic Development Corporation (MEDC) was approved; the board now consists of seven members, one of whom is the mayor. The other six members are appointed for a two-year term of office. An alternate board member position was created for when the mayor is unable; Ruben Plata was designated the alternate.

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CoverageAreaThe Progress Times is the hometown newspaper for the local communities of Mission, Sharyland, Alton, Palmview, La Joya and surrounding areas in Western Hidalgo County. We have a staff of veteran reporters who work diligently every week to bring our readers the latest news as it affects their hometown area and people.

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