HomeMy WebLinkAbout022849 ORD - 02/18/1997AN ORDINANCE
TRANSFERRING TO THE PUBLIC LAW 104-318 TRUST FUND $3,245,000
FROM THE COMBINED UTILITIES FUND AND $734,904 FROM THE
CHOKE CANYON ESCROW FUND; APPROPRIATING $3,979,904 FROM
THE PUBLIC LAW 104-318 TRUST FUND AND $7,095,598 FROM THE
UNRESERVED FUND BALANCE OF THE COMBINED UTILITIES FUND
FOR THE PURPOSE OF IMPLEMENTING RESOLUTION NO. 022837
WHICH IS INCORPORATED HEREIN, REAFFIRMED AND READOPTED;
PROVIDING FOR REIMBURSEMENT WITH INTEREST OF THE
$7,095,598 APPROPRIATED FROM SAID UNRESERVED FUND BALANCE
FROM MONIES AS THEY ARE MADE AVAILABLE BY PUBLIC LAW 104-
318; AND DECLARING AN EMERGENCY
WHEREAS, in Public Law 104-318 ("the Emergency Drought Relief Act of 1996") the
United States Congress deferred payments to the federal government on the Choke Canyon project
for five years, which will make available $22.8 million during the deferral period; and
WHEREAS, Public Law 104-318 requires that the funds thus made available shall be used
exclusively for the acquisition of or construction of facilities related to alternative sources of water
supply; and
WHEREAS, funds made available by Public Law 104-318 should be used to reduce the cost
of the Lake Texana Pipeline Project by reducing the total amount of bonds to be issued therefore,
with resulting interest savings, thus benefitting ratepayers; and
WHEREAS, on February 11, 1997, the City Council adopted Resolution No. 022837,
authorizing the City Manager to deliver to the Nueces River Authority an amount not to exceed
$11,100,000 for acquisition and construction of the Lake Texana Pipeline Project, upon
appropriation by the City Council of monies from savings and anticipated savings resulting from
Public Law 104-318.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS, THAT:
SECTION 1. The following are hereby transferred to the "Public Law 104-318 Trust Fund",
which trust fund has been established exclusively for the acquisition of or construction of facilities
related to alternative sources of water supply in accordance with Public Law 104-318: $3,245,000
from the Combined Utilities Fund and $734,904 from the Choke Canyon Escrow Fund.
SECTION 2. The following are hereby appropriated for the purpose of implementing
Resolution No. 022837: $3,979,904 from the Public Law 104-318 Trust Fund and $7,095,598 from
the unreserved fund balance of the Combined Utilities Fund. Resolution No. 022837 is incorporated
herein by reference for all purposes, and hereby affirmed and readopted.
67RBXXXX.xxx
n � 2 8 4 MICROFILMEU
SECTION 3. The $7,095,598 appropriated from said unreserved fund balance shall be
reimbursed to said unreserved fund balance by monies as they are made available by the deferrals
provided in Public Law 104-318, which reimbursement shall be with interest equal to the amount
which would have been earned if the monies had remained in the unreserved fund balance.
SECTION 4. That upon written request of the Mayor or five Council members, copy
attached, to find and declare an emergency due to the need for immediate action necessary for the
efficient and effective administration of City affairs, and to meet the grave emergency created by
severe drought to immediately make available new water supplies to Corpus Christi and its water
service area, and to take advantage of the savings made available to ratepayers by the Emergency
Drought Relief Act of 1996, such finding of an emergency is made and declared requiring
suspension of the Charter rule as to consideration and voting upon ordinances at two regular
meetings so that this ordinance i assed and shall take effect upon first reading as an emergency
measure this the /81-h day of ' 19 47.
ATTEST:
City Secretary
MAYOR t
THE CITY OF CORPUS CHRISTI
APPROVED THIS THE 14TH DAY OF FEBRUARY 1997:
JAMES R. BRAY JR., CITY ATTORNEY
6JRBXXXX.xxx
•
Corpus Christi, Texas
/SA day of 9.,L
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
, 1997.
For the reasons set forth in the emergency clause of the foregoing ordinance an emergency exists
requiring suspension of the Charter rule as to consideration and voting upon ordinances at two
regular meetings: I/we, therefore, request that you suspend said Charter rule and pass this ordinance
finally on the date it is introduced, or at the present meeting of the City Council.
Respectfully, Respectfully,
MAYOR r
THE CITY OF CORPUS CHRISTI
Council Members
The above ordinance was passed by the following vote:
Mary Rhodes
Dr. Jack Best
Betty Black
Melody Cooper
Tony Heldenfels I,b
Betty Jean Longoria
John Longoria
Edward A. Martin /�
if
Dr. David McNichols t
6JRBXXXX.xxx
0°2849