SEDCO reads plan of termination for Type A Corporation

By Melissa McCaghren

Slatonite GM

The Slaton Economic Development Corporation took a large step forward in changing to a Type B Corporation Thursday (Nov. 22) as they read a resolution to terminate the Type A Corporation and approve a plan for it.

Executive Director Barbara Hopper read the documents during the meeting, which were approved.

A special election was conducted May 4 to abolish the Type A corporation and its tax rate of one half of 1 percent and then create the Type B corporation, adopting the same tax rate.

This will allow them to authorize projects as described in Chapters 501 and 505 of the Texas Local Government Code.

For more information, please read the Thursday edition of The Slatonite.

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