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Title:
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One reading Ordinance designating a certain geographic area in the City of Corpus Christi as “Project Financing Zone [Number One], City of Corpus Christi, Texas” and providing an expiration date for the Zone; making certain findings related thereto; directing that the Texas Comptroller of Public Accounts be notified of the Zone’s creation within thirty (30) days of its designation; requesting that the Comptroller deposit incremental hotel-associated tax revenues from the Zone into a suspense account held in trust for the city’s qualified project activities; providing for notification to the Comptroller in the event that qualified project activities are abandoned or not commenced within five years of the initial deposit to the suspense account; and containing other related matters.
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