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Regular Council Meeting <br />September 11, 2023 <br />Page 2 <br />made by Council Member Kessel and seconded by Council Member Norment. Motion carried, 5 <br />ayes — 0 nays. <br />5. Approve minutes from the meetings of July 24 and August 8, 2023. <br />6. Receive reports and/or minutes from the following boards and commissions: <br />a. Board of Adjustment (8-1-2023) <br />7. Approve the Assignment of Tax Abatement Agreement and Economic Development <br />Agreement (5 in 5) from Jeffery S. Brown to Highland Heritage Investments, LLC. <br />Regular Agenda <br />8. Conduct a public hearing on the City's proposed tax rate for FY 2023-2024 <br />Finance Director Gene Anderson said a public hearing was required on the 2023-24 <br />proposed City tax rate pursuant to the Texas Tax Code. He said that the hearing and the property <br />tax rate could not occur the same night so a special meeting had been called for Tuesday, <br />September 12, 2023 at 5:30 p.m. to approve the property tax rate. <br />City Manager Grayson Path reviewed the property tax rate and said the maintenance and <br />operation tax rate was decreasing while the debt service tax rate was increasing. Mr. Path said <br />the debt service tax rate was increasing due to the movement of utility debt from utility rates to <br />property tax. Mr. Path also said the City's M & O property tax levy was budgeted to remain flat, <br />as it had for the past two years. <br />Mayor Hughes opened the public hearing and asked for anyone wishing to speak about <br />this item to please come forward. With no one speaking, Mayor Hughes closed the public <br />hearing. <br />9. Conduct a public hearing on the City Manager's proposed budget for FY 2023-2024. <br />Mr. Anderson said a public hearing was required on the proposed City budget pursuant to <br />the City Charter and the Local Government Code. He also said the budget was filed with the <br />City Clerk on July 25, 2023 and a legal notice advertising the public hearing was published in the <br />Paris News. <br />Mr. Path gave an overview of the proposed FY23/24 budget, which included the general <br />fund amount of $31,051,550 and reminded everyone that his detailed executive summary was on <br />the City website. <br />Mayor Hughes opened the public hearing and asked for anyone wishing to speak about <br />this item to please come forward. With no one speaking, Mayor Hughes closed the public <br />hearing. <br />