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10-017 Request of Granbury Chamber of Commerce that Council consider and adopt a resolution providing support for the Chamber’s application to the GO TEXAN Rural Community Bootstrap Bucks Program for assistance for Granbury’s 36th Annual Old-Fashioned 4th of July Celebration.

10-018 Consider and adopt a Resolution Order Calling the General Election for the City of Granbury to be held on May 8, 2010 to elect Mayor Place 1 and Councilperson Place 2.

Councilperson Parson made a motion the items listed under Consent Agenda, Council minutes and resolution calling the General Election, be passed and approved. Seconded by Councilperson Pirkle, the motion carried with 5 ayes and 0 nays.

MOTION CARRIED

DELIBERATION AGENDA 10-017 Request of Granbury Chamber of Commerce that Council consider and adopt a resolution providing support for the Chamber’s application to the GO TEXAN Rural Community Bootstrap Bucks Program for assistance for Granbury’s 36th Annual Old-Fashioned 4th of July Celebration. Kylee Peterson, Marketing Director with the Granbury Chamber of Commerce commented the Chamber is a certified member of the GO TEXAS Rural Community Program sponsored by the Texas Department of Agriculture. The Chamber was applying for a $1,000 grant from the GO TEXAN Rural Community Bootstrap Bucks Programto help offset the cost of promotional activities associated with Granbury’s 36th Annual Old Fashioned 4th of July Celebration. Councilperson Johnson made a motion the resolution, providing support for the Chamber’s application, be approved and adopted. Seconded by Councilperson Tyra, the motion carried with 5 ayes and 0 nays.

MOTION CARRIED

10-019 Presentation of the Comprehensive Annual Financial Report (audit) of the City of Granbury for Fiscal year 2008-2009. Wayne McKethan, Finance Director briefed regarding the trend from 2004 through 2010 on the following items: ad valorem valuation growth; comparison of property tax rates among surrounding cities of similar size; sales tax collections; and hotel occupancy tax. Director McKethan commented Granbury has one of the lowest tax rates, which allows the City the increased capacity to raise revenue. Granbury continues to maintain adequate operating reserves. Director McKethan commented the 2008-09 proactive actions initiated by City Manager Sandel, have had a positive impact on the economic environment and financial status of the City. Director McKethan briefed on the 2008-09 General and Utility Fund revenues and expenditures and on the current electric rates. The City continues to be competitive with its rate structure. Daniel Hungerford with George, Morgan & Sneed, Auditors for the City, commented the

financial auditors, included

statements were the responsibility of the City’s management, their responsibility as

was to express opinions on these financial statements based on their audit.

Their audit

examining, evidence supporting the amounts and disclosures in the financial statements;

assessing

the

accounting

principles

used

and

significant

estimates

made

by

management;

and

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