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Home My WebLink About028573 ORD - 04/20/2010Page 1 of 2 ORDINANCE APPROPRIATING $62,409.05 IN OLDER BOND FUND (ISSUED PRIOR TO 2005) INTEREST EARNINGS AS LISTED IN ATTACHMENT 1, SECTION 5 TO EXPEDITE THE CLOSURE OF THESE FUNDS SUBJECT TO ARBITRAGE; CHANGING THE FY 2009-2010 CAPITAL IMPROVEMENT BUDGET ADOPTED BY ORDINANCE NO. 028449 TO INCREASE EXPENDITURES BY $62,409.05; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That $62,409.05 in Older Bond Fund (Issued prior to 2005) interest earnings as listed in Attachment 1, Section 5 is appropriated to expedite the closure of these funds subject to arbitrage. SECTION 2. That the FY 2009-2010 capital improvement budget adopted by Ordinance 028449 is changed to increase expenditures by $62,409.05. SECTION 3. That upon written request of the Mayor or five Council members, copy attached, the City Council finds and declares an emergency due to the need for immediate action necessary for the efficient and effective administration of City affairs and suspends the Charter rule that requires consideration of and voting upon ordinances at two regular meetings so that this ordinana is passed and takes effect upon first reading as an emergency measure this they `day of April, 2010. Armando Chapa City Secretary Mayor CITY OF CORPUS CHRISTI Joe Adam&' AE APPROVED as to form April 12, 2010 By: Lisa Agu Assistant City Attorney For City Attorney 028573 H:\LEG-DIR\Lisa\2010 Ordinance\ORD-appropOlderBondV2.doc INDEXED Page 2 of 2 Corpus Christi, Texas 42949 Day of ,2010 TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas 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, i'elgifie21411 Joe Ad e Mayor Council Members The above ordinance was passed by the following vote: Joe Adame Chris N. Adler Brent Chesney Larry R. Elizondo, Sr. Kevin Kieschnick Priscilla Leal John E. Marez Nelda Martinez Mark Scott 028573 H:\LEG-DIRWeannie\Lisa\Ordinances-Resolutions\ORD-appropOlderBond.doc SECTION Fund # 3020A ATTACHMENT Unappropriated Proceeds 1: AIRPORT Description Airport CIP Fund Capital Reserve ONE as of February 28, Unappropriated Interest/Other 75,511.66 771,677.51 46,532.86 2010 Required Uses City Match for FAA Grant Projects 3020B 3024 3025 4621 SECTION Airport CIP Fund - Other Airport 2000A Revenue Bond Airport 2000B Revenue Bond Airport Passenger Facility Charge Fund AIRPORT CIP UNAPPROPRIATED TOTAL: 2: BOND PROCEEDS Land Acquisition for future FAA projects City Match for FM Grant Projects 9,163.12 310,311.96 City Match for FAA Grant Projects Debt Service 1,213,197.11 GENERAL Fund # OBLIGATION (GO) / CERTIFICATES OF OBLIGATION (CO) / TAX ANTICIPATION NOTES (TN) Description Unappropriated Interest/Other Requirement / Staff Recommendation 3124 Bayfront 2007 GO (Bond Issue 2004) 318,494.51 Approved Bond Projects Not Complete 3125 3126 Bayfront 2008 TN 62,048.05 Approved Bond Projects Not Complete Bayfront 2009 GO (Bond Issue 2008) 30,188.08 Approved Bond Projects Not Complete 3127 Bayfront 2009 CO (Bond Issue 2004) 9,984.44 Approved Bond Projects Not Complete BAYFRONT UNAPPROPRIATED TOTAL: 420,715.08 3363 Public H & S 2007 GO (Bond Issue 2004) 39,277.75 1,723.71 * All Projects Complete - Funds Available 3371 Health Dept 2009 GO (Bond Issue 2008) Approved Bond Projects Not Complete 3191 3341 Fire 2009 GO (Bond Issue 2008) 12,937.21 Approved Bond Projects Not Complete Police 2009 GO (Bond Issue 2008) 6,898.65 Approved Bond Projects Not Complete 3361 Landfill 2005 Certification of Obligation 903.72 All Projects Complete - Funds Available 3362 Landfill 2006 Certification of Obligation 99,837.59 Approved Bond Projects Not Complete 3365 Landfill 2008 Certification of Obligation 35,248.65 Approved Bond Projects Not Complete PUBLIC H & S UNAPPROPRIATED TOTAL: 196,827.28 3224 Library 2005 GO (Bond Issue 2004) 717.60 All Projects Complete - Funds Available 3225 3226 Library 2007 GO (Bond Issue 2004) 15,623.60 All Projects Complete - Funds Available Library 2009 GO (Bond Issue 2008) 3,112.41 Approved Bond Projects Not Complete LIBRARY UNAPPROPRIATED TOTAL: 19,453.61 3263 Museum 2009 GO (Bond Issue 2008) 2,769.51 Approved Bond Projects Not Complete 3289 3290 Park 2005 GO (Bond Issue 2004) 66,507.98 Approved Bond Projects Not Complete Park 2008 TN 137,188.83 Approved Bond Projects Not Complete 3291 Park 2009 GO (Bond Issue 2008) 15,293.30 Approved Bond Projects Not Complete PARKS UNAPPROPRIATED TOTAL: 218,990.11 3541 Street 2005 GO (Bond Issue 2004) 220,216.26 I Approved Bond Projects Not Complete 3544 Street 2007 GO (Bond Issue 2004) 365,745.78 Approved Bond Projects Not Complete 3545 Street 2008 TN 111,644.60 Approved Bond Projects Not Complete 3546 3547 Street 2009 GO (Bond Issue 2008) 154,101.27 Approved Bond Projects Not Complete Street 2009 CO (Holly Road Overlay) 4,094.44 Approved Bond Projects Not Complete STREETS UNAPPROPRIATED TOTAL: 855,802.35 BOND PROCEEDS UNAPPROPRIATED TOTAL: 1,714,557.94 * Engineering Services is recommending the addition of Fire Station No. 12 Driveway Repair Project ATTACHMENT 1 PanP 1 of SECTION Fund # 3: REVENUE BONDS Description Unappropriated Interest/Other Requirement / Staff Recommendation 3492 4525 Storm Water 2006 Revenue Bond Storm Water 2009 Revenue Bond 4,007.15 1,489.03 Available for Current Year CIP Available for Current Year CIP 4526 Storm Water 2009 Revenue Bond (Bond Issue 2008) 19,174.22 Approved Bond Projects Not Complete STORM WATER CIP UNAPPROPRIATED TOTAL: 24,670.40 4150 Gas 2006 Revenue Bond 338.32 Available for Current Year CIP 4551 Gas 2009 Revenue Bond (Bond Issue 2008) 308.37 Approved Bond Projects Not Complete GAS CIP UNAPPROPRIATED TOTAL: 646.69 4080 Water CIP Fund 1,476.19 Available for Current Year CIP 4090 Water 2006 Revenue Bond 9,845.34 Available for Current Year CIP 4475 Water 2009 Revenue Bond 519.36 Available for Current Year CIP 4476 Water 2009 Revenue Bond (Bond Issue 2008) 8,560.51 Approved Bond Projects Not Complete WATER CIP UNAPPROPRIATED TOTAL: 20,401.40 3430 Wastewater CIP Fund 2,869,172.22 Available for Current Year CIP 4250 Wastewater 2006 Revenue Bond 15,422.04 Available for Current Year CIP 4500 Wastewater 2009 Revenue Bond 884.92 Available for Current Year CIP 4501 Wastewater 2009 Revenue Bond (Bond Issue 2008) 6,525.71 Approved Bond Projects Not Complete WASTEWATER CIP UNAPPROPRIATED TOTAL: 2,892,004.89 REVENUE BONDS CIP UNAPPROPRIATED TOTAL: 2,937,723.38 SECTION 4: SPECIALITY BOND PROCEEDS TEXAS MILITARY LOAN (TML) / TAX INCREMENT FINANCING (TIF) SALES TAX SUPPORTED BONDS / GENERIC CAPITAL IMPROVEMENT PROGRAM FUNDS (CIP) Fund # Description Unappropriated Interest/Other Requirement / Staff Recommendation 3489 Storm Water 2007 TML (North Port) 17,451.19 Approved Bond Project Not Complete 4086 Water 2007 TML (North Port) 1,084.69 Approved Bond Project Not Complete 4246 Wastewater 2007 TML (North Port) 2,968.26 Approved Bond Project Not Complete 3542 Street 2007 TML (North Port) 24,273.95 Approved Bond Project Not Complete 3543 Street 2007 TML (NAS AICUZ) 19,535.72 Restricted Fund for Military Projects TML UNAPPROPRIATED TOTAL: 65,313.81 3270 Seawall Bond Fund 195,031.09 Administered by Type A Board 3275 Arena Bond Fund 2,637.28 Administered by Type A Board SALES TAX BOND UNAPPROPRIATED TOTAL: 197,668.37 3277 Packery Channel TIF Fund 9,960.86 Approved TIF Project Not Complete 3160 City Hall CIP Fund 457.09 Available for Current Year CIP 3210 Library CIP Fund 540.15 Available for Current Year CIP 3280 Park CIP Fund 2,867.53 Available for Current Year CIP 3350 Public Health & Safety CIP 1,000.00 Available for Current Year CIP 3600 Gas CIP Fund 953.27 Available for Current Year CIP GENERIC CIP FUND UNAPPROPRIATED TOTAL: 5,818.04 SPECIALITY BOND UNAPPROPRIATED TOTAL: 278,761.08 ATTACHMENT 1 Pana 9 of SECTION 5: OLDER BOND FUNDS (ISSUED PRIOR TO 2005) Fund # 3121 3357 335.9 3411 B 3537 4084 4085 4242 Description Unappropriated Interest/Other Bayfront 1994B CO Public Health & Safety 1995 GO Public H&S 2004 CO (Landfill) Street 2000 CO Street 1995 CO Water 2002 Revenue Bond Water 2004 Revenue Bond Wastewater 1995 State Revolving Fund OLDER BOND FUNDS UPAPPROPRIATED TOTAL: SECTION 6: OTHER UNAPPROPRIATED FUNDS Fund # Description Requirement / Staff Recommendation 1,674.18 Older Fund Recommend Closing 34,097.15 Older Fund Recommend Closing 13,786.91 Older Fund Recommend Closing 1,502.12 Older Fund Recommend Closing 8,891.42 Older Fund Recommend Closing 207.64 Older Fund Recommend Closing 150.29 Older Fund Recommend Closing 2,099.34 Older Fund Recommend Closing 62,409.05 Unappropriated Interest/Other Requirement / Staff Recommendation Street Assessments Street Closures OTHER UNAPPROPRIATED FUNDS TOTAL: 430, 054.45 291, 542.64 Approved Assessment Projects 721,597.09 Approved Assessment Projects ATTACHMENT 1 Pant= of 1 CITY OF CORPUS CHRISTI CERTIFICATION OF FUNDS (City Charter Article IV, Sections 7 & 8) I, the Director of Finance of the City of Corpus Christi, Texas (or his/her duly authorized representative), hereby certify to the City Council and other appropriate officer that the money required for the contract, agreement, obligation or expenditure described below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has not been appropriated for any other purpose. City Council Action Date: April 20, 2010 E. Ordinance appropriating $62,409.05 in OLDER BOND FUND (ISSUED PRIOR TO 2005) interest earnings as listed in Attachment 1, Section 5 to expedite the closure of these funds subject to arbitrage; Changing the FY 2009-2010 Capital Improvement Budget adopted by Ordinance No. 028449 to increase expenditures by $62,409.05; and declaring an emergency. Amount Required: $62,409.05 Fund Name Fund No. Org. No. Account No. Project No. Amount Various See: Attachment A Section 5 00000 251850 $62,409.05 Total $62,409.05 Certification Not Required Print on Green Paper] Director of Financial Services Date: 14-1,5--/o CITY OF CORPUS CHRISTI L:\BUD-DIR\LYNDA\Agenda Items\Mar 09 - Fund approp\Cover.DOC