04-089 O - 2004 PEDC Budget Ordinance TOWN OF PROSPER, TEXAS ORDINANCE NO. 04-89
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS ADOPTING A
BUDGET AND APPROPRIATING RESOURCES FOR THE PROSPER
ECONOMIC DEVELOPMENT CORPORATION BUDGET YEAR BEGINNING
OCTOBER 1, 2004 AND ENDING SEPTEMBER 30, 2005; PROVIDING FOR
REPEALING, SAVINGS AND SEVERABILITY CLAUSES; PROVIDING FOR
AN EFFECTIVE DATE OF THIS ORDINANCE; AND PROVIDING FOR THE
PUBLICATION OF THE CAPTION HEREOF.
WHEREAS, pursuant to the laws of the State of Texas and the Bylaws of the Town of
Prosper, Texas ("Prosper") Prosper Economic Development Corporation ("PEDC"), the budget
covering the proposed expenditures for the fiscal year beginning October 1, 2004 and ending
September 30, 2005, was filed with the Town Secretary (the `budget"). A copy of the budget is
attached hereto as Exhibit "A" and incorporated herein for all purposes; and
WHEREAS, a public hearing was held by the Town Council of the Town of Prosper,
Texas ("Town Council"), on said budget on August 24, 2004, at which time said budget was fully
considered, and interested taxpayers were given the opportunity to be heard by the Town
Council; and
WHEREAS, the Town Council has studied the budget and listened to the comments of
the taxpayers at the public hearing and has investigated and determined that adoption of the
budget is in the best interest of the Town; and
WHEREAS, the Town Council finds that all legal notices, hearings, procedures and
publishing requirements for the adoption of the budget have been performed or completed in the
manner and form set forth by law.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into
the body of this Ordinance as if fully set forth herein.
SECTION 2: Adoption of Budget. The proposed budget estimate of revenues and
expenditures for the PEDC, attached hereto as Exhibit "A", as presented by the Board of
Directors of the PEDC and appropriated by the Town Council for the fiscal year beginning
October 1, 2004 and ending September 30, 2005, is hereby approved and adopted.
SECTON 3: Proposed 2004-2005 Expenditures. The proposed fiscal year 2004-2005
estimate of expenditures for the PEDC is $231,854.
SECTION 4: Savings/ Repealing Clause. All provisions of any ordinance in conflict with
this Ordinance are hereby repealed; but such repeal shall not abate any pending prosecution for
violation of the repealed Ordinance, nor shall the repeal prevent prosecution from being
commenced for any violation if occurring prior to the repeal of the Ordinance. Any remaining
portions of conflicting ordinances shall remain in full force and effect.
SECTION 5: Severability. Should any section, subsection, sentence, clause or phrase
of this Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is
04-89,2004 PEDC Budget Ordinance.doc
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expressly provided that any and all remaining portions of this Ordinance shall remain in full force
and effect. Prosper hereby declares that it would have passed this Ordinance, and each section,
subsection, sentence, clause, or phrase thereof irrespective of the fact that any one or more
sections, subsections, sentences, clauses, or phrases be declared unconstitutional or invalid.
SECTION 6: Effective Date. This Ordinance shall become effective from and after its
adoption and publication as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ON THIS 31st DAY OF AUGUST, 2004.
CHARL S AN ayor
ATTE •
SHANAE JENNI S, Town Se r tary
Date of Publication 9 07 3 Dallas Morning
News — Collin County Edi•on
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Pt- T
131111111.1"--
Town of Prosper
FY 2004- 2005
Prosper Economic
Development Corporation
Budget
August 31, 2004
Town of Prosper
113 W. Broadway Street
Prosper, Texas 75078
(972) 346-2640
www.prosperbc.gov
SUMMARY OF REVENUES
Town of Prosper
FY 2004-2005 Town Budget
Summary of Revenues
Economic Development Corporation (EDC) Fund
Account# Account Description FY 2003-2004 FY 2003-2004 FY 2004-2005 FY 2004-2005 FY 2004-2005
Budgeted Projected Proposed Recommended Approved
Beginning Balance $ 255,000.00 $ 266,000.00 $ 325,000.00 $ 325,000.00 $ 325,000.00
4120 15ales Tax $ 200,000.00 $ 259,426.00 $ 276,331.00 5 276,331.00 $ 276,331.00
__ — _1_ Totals S 455,000.00 $ 525,426.00 $ 601,331.00 601,331.00 $ 601,331.00
Town of Prosper
i FY 2004-2005 Town Budget
Summary of Expenditures
Economic Development Corporation(EDC)Fund
Account# Account DescriptionFY 2003-2004 FY 2003-2004 FY 2004-2005 FY 2004-2005 FY 2004-2005
Budgeted Projected Proposed Recommended Approved
• 5110 Salaries&Wages $ 80,050.00 $ - $ 87,440.00 $ 87,440.00 $ 87,440.00
5115 Salaries-Overtime $ - $ - $ - $ - $ -
5125 Salaries-Accrued Leave $ • $ - $ - $ - $ -
5140 Salaries-Longevity Pay $ - $ • $ 50.00 $ 50.00 $ 50.00
5145 Social Security Expense $ - $ $ 4,776.48 $ 4,776.48 $ 4,776.48
5150 Medicare Expense $ - $ - $ 1,117.08 $ 1,117.08 $ ' 1,117.08
5155 SUTA Expense $ - $ - $ 414.00 $ 414.00 $ 414.00
5160 Health/Dental Expense $ - $ - $ 4,115.1E 1$ 4,115.16 $ 4,115.16
5180 :MRS Exp ise $ - $ - $ -%21.ti S 2211.7':{-$- 2,721.25 •
. r- 518; �Shnrt/Long Term Disability $ - $ i5 . ...:_F7' 8,;4 670.80.I 670.80
5,9,. Conuact Labor - . . {------_...$ $ !E J - 912C4'� 910 .
. r5::0 i5u?pi°S $ 2,000.00 $ ._S. ---c ,cn.=,• -:�'-__—
...,.9P.:,•' $ 2,198.74
I 5230 Puss Schools Subscriptions $ 1,250.00 $ - $ 5 1 � 1,200.00
5240 Postage and Delivery $ 2,570.00 $ - $ 2,000.L4 ,° 2,000.00 $ 2,000.00
5250 Publications $ - $ - $ 4,085.00 $ 4,085.00 $ 4,085.00
5280 Printing and Reproduction $ 1,500.00 $ - $ 5,500.00 $ 5,500.00 $ 5,500.00
5290 Miscellaneous Expense $ 13,550.00 $ - $ 13,390.00 $ 13,390.00 $ 13,390.00
5310 Rental Expense $ 6,427.00 $ - $ - $ $
5320 Repairs&Mantenance $ 1,200.00 $ • $ 1,200.00 $ 1,200.00 $ 1,200.00
5410 Professional Services $ 63,200.00 $ - $ 48,840.00 $ 48,840.00 $ 48,840.00
5430 Legal Fees $ 10,500.00 $ - $ 40,000.00 S 40,003.00 $ 40,000.00
5480 Contracted Services $ 10,000.00 $ - $ - $ - $
5520 Telephone&Utilities $ 6,990.00 $ - $ 3,900.00 $ 3,900.00 $ 3,900.00
5530 Travel $ 750.00 $ - $ 2,075.00 $ 2,075.00 $ 2,075.00
6140 Capital Expenditures-Equip $ - $ - $ 5,250.00 $ 5,250.00 $ 5,250.00
Totals $ 199,987.00 $ - $ 231,853.51 $ 231,853.51 $ 231,853.51
AFFIDAVIT OF PUBLICATION
STATE OF TEXAS
COUNTY OF DALLAS
Before me, a Nucary Public in and for Dallas County, this day personally ap;� .ared 3311;
Rutledge, Idephone Sales Representative for the DALLAS MORNING NEWS being
duly sworn by oath, states the attached advertisement of:
TOWN OF PROSPER-Ordinances 04-87, 88, 89 & 90
as published in THE COLLIN COUNTY MORNING NEWS on: SEPTEMBER 9 &
10, 2004
(Bill Rutledge)
Sworn to and subscribed before me this SEPTEMBER 10, 2004 A.D.
6.
///(Lisa Battenfie )
TOWN OF
PROSPER, TEXAS
. ORDINANCE NO. 04-89
AN ORDINANCE OF
THE TOWN OF PROS-
PER TEXAS ADOPTING
A BUDGET AND AP-
PROPRIATING RE-
PROSPERSECONOMIC
DEVELOPMENT COR-
PORATION BUDGET
YEAR BEGINNING OC-
TOBER 1, 2004 AND
' ENDING SEPTEMBER
30, 2005; PROVIDING
FOR REPEALING, SAV-
INGS AND SEVERABILI-
TY CLAUSES; PROVID-
ING FOR AN EFFEC-
TIVE DATE OF THIS
ORDINANCE;AND PRO-
. VIDING FOR THE PUB-
LICATION OF THE CAP-
TION HEREOF.