El Paso County Community College District v. City of El Paso

CARROLL, Justice.

The City of El Paso (“City”) obtained a declaratory judgment from the district court of Travis County concerning The City’s authority to issue tax increment bonds pursuant to the Tax Increment Financing Act of 1981, Tex.Rev.Civ.Stat.Ann. art. 1066e (Supp.1985). We will reverse the judgment of the trial court.

TAX INCREMENT FINANCING

1. In General. Tax increment financing is a vehicle whereby incorporated towns or cities can raise current funds to finance public improvements. The town or city will first designate a specific “reinvestment zone,” determine that the area is…