HomeMy WebLinkAboutResolution - 2007-R0347 - Designate And Provide For Multi-Purpose Venue Project - 07_26_2007Resolution No. 2007-RO34E7
July 26, 2007
Item No. 5.2
A RESOLUTION DESIGNATING AND PROVIDING FOR A
MULTI -PURPOSE ARENA PROJECT AS A SPORTS AND
COMMUNITY VENUE PROJECT AND DESIGNATING THE
METHODS OF FINANCING THE ARENA PROJECT PURSUANT
TO CHAPTER 334, TEXAS LOCAL GOVERNMENT CODE
WHEREAS, if approved at an election, the City Council (the "City Council") of the City
of Lubbock, Texas (the "City"), under the authority and subject to the provisions of Chapter 334,
Texas Local Government Code, as amended (the "Act"), intends to plan, acquire, establish,
develop and construct a sports and community venue project; and
WHEREAS, this resolution is adopted pursuant to the requirements of and in conformity
with Section 334.021;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF LUBBOCK, TEXAS, THAT:
Section 1. The findings and determinations set forth in the preambles hereto are
hereby incorporated by reference for all purposes.
Section 2. The City Council hereby designates, and, subject to approval at an
election, authorizes a sports and community venue project within the City of the type described
and defined in Section 334.001(4)(A) of and permitted by the Act. This sports and community
venue project is described in summary form as follows:
A multi -purpose and multi -functional arena to be located in the City that is planned to be
used to accommodate events such as soccer, football, ice events, circuses, concerts and similar
events, and related infrastructure, as defined in the Act. For the purposes of this resolution, this
venue project is known as the "Arena Project."
Section 3. The City Council designates the following methods of financing as the
methods of financing that the City wants to use to finance the Arena Project:
A. The imposition of a tax at a rate not to exceed five percent (5%) on the gross
rental receipts from the short-term rental in the City of a motor vehicle, as and to the extent
authorized by Subchapter E of the Act; and
B. The imposition of a tax on the occupancy of a room in a hotel located with the
City, at a rate not to exceed two percent (2%) of the price paid for such room, as and to the
extent authorized by Subchapter H of the Act.
C. The levy and use of an amount not to exceed nine and one-half percent (9.5%) of
the revenues derived from the municipal property tax, as and to the extent authorized by
Subchapter B of the Act.
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Lubbock Resulution Desigiiating Arena Venue Project
Section 4. The City Manager or her designee is authorized and directed to send a
copy of this resolution to the State Comptroller of Public Accounts (the "Comptroller"), together
with other information as may be requested by the Comptroller, for a determination regarding
whether the implementation of this resolution will have a significant negative fiscal impact on
State revenue.
Section 5. The City Manager or her designee shall place on the City Council's
agenda an ordinance calling an election under Sections 334.024 and 334.0241 of the Act on the
question of approving and implementing the resolution upon the first of the following to occur:
(1) receiving written notice from the Comptroller that implementation of this resolution will not
have a significant negative fiscal impact on State revenue; or (2) the expiration of thirty (30)
days from the date the Comptroller receives a copy of this resolution, if no such written notice is
provided by the Comptroller.
Section 6. If the methods of financing described in Section 3 are approved at the
election ordered by the City, as contemplated in Section 5, the City Council, by resolution shall
establish the Arena Project Fund as the venue project fund required by Section 334.042 of the
Act. All proceeds from each such tax, and other revenue received by the City from or in
connection with the Arena Project, to the extent directed by the City Council, shall be deposited
to such fund and shall be used exclusively for the purposes permitted in Section 334.042 of the
Act.
Section 7. This resolution shall take effect from and after the date of its passage.
FINALLY PASSED, APPROVED AND EFFECTIVE this 26th day of July, 2007, by the CITY
COUNCIL of the CITY OF LUBBOCK, TEXAS.
DAVID A. ILLER., MAYOR
ATTEST:
Q-.v_C—c_—c
Rebe a Garza, City Secretary
APPROVED AS TO CONTENT:
Chief F�'irl anciaf Officer
Prepared by Jennitir'I'affe
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Lubbock Resolution Designating Arena Venue Project
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