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Home My WebLink About029147 ORD - 07/26/2011Page 1 of 2 ORDINANCE APPROPRIATING $4,839.19 IN OLDER BOND FUND (ISSUED PRIOR TO 2006) INTEREST EARNINGS AS LISTED IN ATTACHMENT 1, SECTION 5 TO EXPEDITE THE CLOSURE OF SAID FUNDS SUBJECT TO ARBITRAGE; CHANGING THE FY 2010-2011 CAPITAL IMPROVEMENT BUDGET ADOPTED BY ORDINANCE NO, 028995 TO INCREASE EXPENDITURES BY $4,839.19; AND DECLARING AN EMERGENCY BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. An amount of $4,839.19 in Older Bond Fund interest earnings (issued prior to 2006) as listed in Attachment 1, Section 5, is appropriated to expedite the closure of said funds subject to arbitrage. SECTION 2. The FY 2010-2011 Capital Improvement Budget adopted by Ordinance No. 028995 is changed to increase expenditures by $4,839.19. SECTION 3. Upon written request of the Mayor or five Council members, copy attached, the City Council (1) finds and declares an emergency due to the need for immediate action necessary for the efficient and effective administration of City affairs and (2) suspends the Charter rule that requires consideration of and voting upon ordinances at two regular meetings so that this ordinance is passed and takes effect upon first reading as an emergency measure on this the 26th day of July, 2011. ATTEST: Armando Chapa City Secretary APPROVED AS TOORM: 14 -Jul -11 Veronica Ocanas Assistant City Attorney For City Attorney 072611 ORD APP $4,839.19 in Older Bond Fund CITY OF CORPUS CHRISTI Joe Aflame Mayor 029147 INDEXED Page 2 of 2 Corpus Christi, Texas , 2011 TO THE MEMB RS 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, The above ordinance was passed by the following vote: Joe Adame Chris N. Adler Larry Elizondo, Sr. Kevin Kieschnick Priscilla G. Leal John E. Marez Nelda Martinez Mark Scott David Loeb 072611 ORD APP $4,839.19 in Older Bond Fund 029147 ATTACHMENT ONE , Unappropriated Proceeds as of May 31, 2011 Fund # SECTION 1: AIRPORT Unappropriated Interest/Other Requirement 1 Staff Recommendation Fund # Description Unappropriated Interest/Other Required Uses 3124 Bayfront 2007 GO (Bond Issue 2004) 1,440.24 Approved Bond Projects Not Complete 3020 Airport CIP Fund - Grants 33,387.30 City Match for FAA Grant Projects 3020A Airport CIP Fund Capital Reserve 678.23 City Match for FAA Grant Projects 3024 Airport 2000A Revenue Bond 11,851.42 City Match for FAA Grant Projects AIRPORT CIP UNAPPROPRIATED TOTAL: 45,916.95 3363 Public H & S 2007 GO (Bond Issue 2004) 519.48 All Projects Complete - Funds Available) SECTION 2: BOND PROCEEDS Health Dept 2009 GO (Bond Issue 2008) 1,249.58 BLIGATION (CO)/ TAX ANTICIPAT ATTACHMENT 1 Page 1 of 3 Fund # Description Unappropriated Interest/Other Requirement 1 Staff Recommendation 3124 Bayfront 2007 GO (Bond Issue 2004) 1,440.24 Approved Bond Projects Not Complete 3125 Bayfront 2008 TN 69,357.99 Approved Bond Projects Not Complete 3126 Bayfront 2009 GO (Bond Issue 2008) 58,504.84 Approved Bond Projects Not Complete 3127 Bayfront 2009 CO (Bond Issue 2004) 13,037.05 Approved Bond Projects Not Complete BAYFRONT UNAPPROPRIATED TOTAL: 142,340.12 3363 Public H & S 2007 GO (Bond Issue 2004) 519.48 All Projects Complete - Funds Available) 3371 Health Dept 2009 GO (Bond Issue 2008) 1,249.58 Approved Bond Projects Not Complete 3191 Fire 2009 GO (Bond Issue 2008) 19,748.20 Approved Bond Projects Not Complete 3341 Police 2009 GO (Bond Issue 2008) 7,857.59 Approved Bond Projects Not Complete 3362 Landfill 2006 Certification of Obligation 1,441.94 Approved Bond Projects Not Complete 3364 Public H & S 2008 TN 3,604.59 Approved Bond Projects Not Complete 3365 Landfill 2008 Certification of Obligation 24,308.35 Approved Bond Projects Not Complete PUBLIC H & S UNAPPROPRIATED TOTAL: 58,729.73 3225 Library 2007 GO (Bond Issue 2004) 19.42 All Projects Complete - Funds Available 3226 Library 2009 GO (Bond Issue 2008) 4,021.53 Approved Bond Projects Not Complete LIBRARY UNAPPROPRIATED TOTAL: 4,040.95 3263 Museum 2009 GO (Bond Issue 2008) 690.10 Approved Bond Projects Not Complete 3289 Park 2005 GO (Bond Issue 2004) 1,305.44 All Projects Complete - Funds Available 3290 Park 2008 TN 10,257.46 I Approved Bond Projects Not Complete 3291 Park 2009 GO (Bond Issue 2008) 10,991.46 Approved Bond Projects Not Complete 3292 Park 2010 GO (Bond Issue 2008) 23,625.12 Approved Bond Projects Not Complete PARKS UNAPPROPRIATED TOTAL: 46,179.48 3541 Street 2005 GO (Bond Issue 2004) 10,050.56 ' Approved Bond Projects Not Complete 3545 Street 2008 TN 3,280.94 Approved Bond Projects Not Complete 3546 Street 2009 GO (Bond Issue 2008) 220,081.47 Approved Bond Projects Not Complete 3547 Street 2009 CO (Holly Road Overlay) 5,155.56 Approved Bond Projects Not Complete STREETS UNAPPROPRIATED TOTAL: 238,568.53 BOND PROCEEDS UNAPPROPRIATED TOTAL: 490,548.91 ATTACHMENT 1 Page 1 of 3 SECTION 3: REVENUE BONDS Fund # Description Unappropriated Interest/Other Requirement / Staff Recommendation 3480 Storm Water CIP Fund 54,128.17 Available for Current Year CIP 3492 Storm Water 2006 Revenue Bond 389.65 Available for Current Year CIP 4525 Storm Water 2009 Revenue Bond 513.40 Available for Current Year CIP 4526 Storm Water 2009 Revenue Bond (Bond Issue 2008) 10,009.85 Available for Current Year CIP 4528 Storm Water 2010 Revenue Bond (Tax Exempt BAB) 5,043.99 Available for Current Year CIP 4529 Storm Water 2010b Revenue Bond (Taxable BAB) 24,485.52 Available for Current Year CIP STORM WATER CIP UNAPPROPRIATED TOTAL: 94,570.58 4551 Gas 2009 Revenue Bond (Bond Issue 2008) 1,136.44 Available for Current Year CIP 4554 Gas 2010b Revenue Bond (Taxable BAB) 359.42 Available for Current Year CIP GAS CIP UNAPPROPRIATED TOTAL: 1,495.86 4080 Water CIP Fund 773,024.48 Available for Current Year CIP l 4090 Water 2006 Revenue Bond 0.15 Available for Current Year CIP 4475 Water 2009 Revenue Bond 217.06 Available for Current Year CIP 4476 Water 2009 Revenue Bond (Bond Issue 2008) 4,219.42 Available for Current Year CIP 4478 Water 2010 Revenue Bond (Tax Exempt BAB) 4,306.40 Available for Current Year CIP 4479 Water 2010b Revenue Bond (Taxable BAB) 18,249.65 Available for Current Year CIP WATER CIP UNAPPROPRIATED TOTAL: 800,017.16 3430 Wastewater CIP Fund 5,484.18 Available for Current Year CIP 4250 Wastewater 2006 Revenue Bond 228.58 Available for Current Year CIP 4500 Wastewater 2009 Revenue Bond 113.42 Available for Current Year CIP 4501 Wastewater 2009 Revenue Bond (Bond Issue 2008) 1,576.24 Available for Current Year CIP 4503 Wastewater 2010 Revenue Bond (Tax Exempt BAB) 7,014.71 Available for Current Year CIP 4504 Wastewater 2010b Revenue Bond (Taxable BAB) 21,736.26 Available for Current Year CIP 4510 Wastewater Capital Reserves 296.70 Available for Current Year CEP WASTEWATER CIP UNAPPROPRIATED TOTAL: 36,450.09 REVENUE BONDS CIP UNAPPROPRIATED TOTAL: 932,533.69 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) 8,014.62 Approved Bond Project Not Complete 4086 Water 2007 TML (North Port) 283.80 Approved Bond Project Not Complete 4246 Wastewater 2007 TML (North Part) 1,239.17 Approved Bond Project Not Complete 3542 Street 2007 TML (North Port) 3,088.75 Approved Bond Project Not Complete 3543 Street 2007 TML (NAS AICUZ) 5,103.33 Restricted Fund for Military Projects TML UNAPPROPRIATED TOTAL: 17,729.67 3270 Seawall Bond Fund 876.22 Administered by Type A Board 3271 Seawall System CIP Fund 2,353.98 ! Administered by Type A Board SALES TAX BOND UNAPPROPRIATED TOTAL: 3,230.20 3278 Packery Channel TIF Fund 1,339.34 Approved TIF Project Not Complete ATTACHMENT 1 Page 2 of 3 SECTION 4: SPECIALITY BOND PROCEEDS (continued) Description • Requirement 1 Staff Recommendation 3210 Library CIP Fund 4,480.95 Available for Current Year CIP 3280 Park CIP Fund 2,873.47 Available for Current Year CIP 3530 Street CIP Fund 328,200.39 Available for Current Year CIP 3600 Gas CIP Fund 470.39 Available for Current Year CIP GENERIC CIP FUND UNAPPROPRIATED TOTAL: 336,025.20 SECTION 6: OTHER UNAPPROPRIATED FUNDS SPECIALITY BOND UNAPPROPRIATED TOTAL: 358,324.41 Description Unappropriated Interest/Other Requirement / Staff Recommendation SECTION 5: OLDER BOND FUNDS (ISSUED PRIOR TO 20061 Fund # Description Unappropriated Interest/Other Requirement 1 Staff Recommendation 3359 Public Health & Safety 2004 CO 186.53 Older Fund Recommend Closing 336.1 Public H & S 2005 Certificate of Obligation 804.26 Older Fund Recommend Closing 4084 Water 2002 Revenue Bond 246.56 Older Fund Recommend Closing 4242 Wastewater 1995 State Revolving Fund 3,601.84 Older Fund Recommend Closing OLDER BOND FUNDS UNAPPROPRIATED TOTAL: 4,839.19 SECTION 6: OTHER UNAPPROPRIATED FUNDS Fund # Description Unappropriated Interest/Other Requirement / Staff Recommendation Street Assessments 115,838.66 Approved Assessment Projects Street Closures 301,227.25 Approved Assessment Projects OTHER UNAPPROPRIATED FUNDS TOTAL: 417,065.91 SECTION 7: INFRASTRUCTURE FUND Acct # Description Unappropriated Interest/Other Requirement / Staff Recommendation 330859 Acushnet Drive 2,651.78 Approved Deferred Street Construction 330332 Cimarron Park 8,792.60 Approved Deferred Street Construction 330928 Country Creek #5 9,008.45 Approved Deferred Street Construction 330885 Country Creek #3 6,745.12 Approved Deferred Street Construction 330257 Coves @ Lego Vista 3,204.30 Approved Deferred Street Construction 330857 Cullen Place 5,408.66 Approved Deferred Street Construction 330765 Drainage Channel 31 228.29 Approved Deferred Street Construction 330785 Dunbarton Oaks 33,041.51 Approved Deferred Street Construction 330913 Homedale Addition 3,199.32 Approved Deferred Street Construction 330854 Kitty Hawk 709.13 Approved Deferred Street Construction 341040 Legends of Diamante 361.58 Approved Deferred Street Construction 330889 Mariposa Subdivision 15,993.39 Approved Deferred Street Construction 330259 Navigation Pointe 9,748.80 Approved Deferred Street Construction 330835 Oso Pkwy 1,866.53 Approved Deferred Street Construction 330806 Rancho Las Brisas 181.40 Approved Deferred Street Construction 330853 Rancho Vista 763.71 Approved Deferred Street Construction 341040 RRAH Corpus Christi 217;82 Approved Deferred Street Construction 330400 Saratoga Center Block 1 2,904.49 Approved Deferred Street Construction 330925 Scogin Creek, Unit 5 11,917.17 Approved Deferred Street Construction 330903 Shoreline Oaks 6,291.12 Approved Deferred Street Construction 330388 St. Maria Stella Subdivision 2,747.90 Approved Deferred Street Construction 330204 Traffic Congestion 1,470.75 Approved Deferred Street Construction 330905 University Drive 523.64 Approved Deferred Street Construction INFRASTRUCTURE FUND TOTAL: 127,977.46 ATTACHMENT 1 Page 3 of 3 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: July 26, 2011 E. Ordinance appropriating $4,839.19 in OLDER BOND FUND (ISSUED PRIOR TO 2006) interest earnings as listed in Attachment 1, Section 5 to expedite the closure of these funds subject to arbitrage; Changing the FY 2010-2011 Capital Improvement Budget adopted by Ordinance No. 028995 to increase expenditures by $4,839.19; and declaring an emergency. Amount Required: $4,839.19 Fund Name Fund No. Org. No. Account No. Project No. Amount Various See: Attachment A Section 5 00000 251850 $4,839.19 Total $4,839.19 Certification Not Required )91 Director of Financial Services Date: Print on Green Paper] H:IHOMEILYNDASIGEN\Interest Appropriation\Cover.DOC