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FORT WORTH (AP) – One of Texas’ largest cities is preparing to swear in its newly elected mayor.

Fort Worth’s new mayor Betsy Price will be sworn in at a ceremony Tuesday night and then preside over the City Council meeting.

Outgoing Mayor Mike Moncrief, who’s held the office the past eight years and didn’t seek re-election, also will deliver his farewell remarks at the ceremony.

Price was elected in a runoff election in June. She’s the former Tarrant County tax assessor-collector, and during her campaign she pledged to cut city spending.

She defeated former City Councilman Jim Lane.

As she takes office, Fort Worth faces a projected $30 million budget shortfall and later this year will start negotiating a new contract with police.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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