At the April 30, 2019 Buda City Council meeting, the Council requested amendments to the Buda Economic Development Corporations (BEDC) bylaws. The Buda City Council requested amendments to the BEDC’s bylaws in order to improve communication and provide greater transparency. The Buda City Council has referred the requested amendments to the new BEDC Board of Directors for consideration. The requested amendments include: per State law, the Buda City Council is to approve all programs and expenditures of the Corporation and annually review any financial statements of the corporation; it is entitled access to all of the Corporation’s books and records at all times; only three of the directors of a Type B corporation (BEDC) must be persons who are not employees, officers or members of the governing body of the authorizing municipality (Texas Government Code, Section 501.073, Section 505.052(c)).
The Buda City Council looks forward to a productive working relationship with the new Board of Directors of the BEDC. The Buda City Council is entrusted with providing oversight of the BEDC and it is crucially important that we work together in good faith with a common mission of meeting the needs of the Buda citizens. In accordance with Texas State Law, the Buda City Council approves all programs and expenditures of the Buda EDC and annually reviews any financial statements of the Corporation. Through open lines of communication and transparency, the City of Buda and the new BEDC Board of Directors will work together to keep our community economically viable and competitive with other cities in the region. (Texas Government Code, Section 501.073)
