HomeMy WebLinkAbout020510 RES - 11/01/1988A RESOLUTION
APPROPRIATING FUNDS FROM THE REINVESTMENT ZONE NO. 1 AS
FOLLOWS: $1,938,712 AS REBATES TO THE CITY OF CORPUS
CHRISTI, CORPUS CHRISTI INDEPENDENT SCHOOL DISTRICT, CORPUS
CHRISTI JUNIOR COLLEGE DISTRICT (DEL MAR), NUECES COUNTY,
AND NUECES COUNTY HOSPITAL DISTRICT AS ALLOCATED HEREIN;
$1,827,784 FOR THE CORPUS CHRISTI MUSEUM EXPANSION;
SUFFICIENT FUNDS TO PAY DEBT SERVICE FOR THE COMBINATION TAX
AND TAX INCREMENT REVENUE CERTIFICATES OF OBLIGATION SERIES
1988 (TAX INCREMENT FINANCING ZONE PROJECT); AND ALLOCATING
THE CITY'S REBATE FROM THE REINVESTMENT ZONE IN THE AMOUNT
OF $900,000 TO THE LA RETAMA/BALUSTRADE PROJECT, $500,000 IN
THE CIP BOND FUND, AND TO THE PEOPLE'S STREET T -HEAD PROJECT
$400.,000 IN THE ECONOMIC DEVELOPMENT TRUST FUND; AND
APPROPRIATING AND ALLOCATING $43,400 FROM THE ECONOMIC
DEVELOPMENT TRUST FUND TO THE CORPUS CHRISTI MUSEUM
EXPANSION PROJECT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. That funds are hereby appropriated from the Reinvestment
Zone No. 1 as follows: $1,938,712 as rebates to the City of Corpus Christi,
Corpus Christi Independent School District, Corpus Christi Junior College
District (Del Mar), Nueces County, and Nueces County Hospital District (City,
$900,000; CCISD, $492,266; Del Mar, $67,767; County, $383,419; and Hospital,
$95,261); $1,827,784 for the Corpus Christi Museum Expansion; sufficient funds
to pay debt service for the Combination Tax and Tax Increment Revenue
Certificates of Obligation Series 1988 (Tax Increment Financing Zone Project) ;
and allocating the City's rebate from the Reinvestment Zone in the amount of
$900,000 to the La Retama/Balustrade Project, $500,000 in the CIP Bond Fund, and
to the People's Street T -Head Project $400,000 in the Economic Development Trust
Fund; and appropriating and allocating $43,400 from the Economic Development
Trust Fund to the Corpus Christi Museum Expansion Project.
ATTEST:
fltySecretary MA OR
APPROVED: ZI� DAY 0e7�, 19�r
HAL GEORGE, CITY ATTORNEY
By
A$6.464ent City Attorney
207HG063.res
THE CITY OF CORPUS CHRISTI, TEXAS
20510 MICROFILMED
CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATION OF FUNDS
(City Charter Article IV Section 21)
October 27, 1988
I certify to the City Council that $ 43,40o , the amount required for
the contract, agreement, obligation or expenditures contemplated in the above
and foregoing ordinance is in the Treasury of the City of Corpus Christi to the
credit of:
Fund d No . and Name
Project No.
Project Nie
Economic Development Trust Fund__..
Museum Expansion Project
from which it is proposed to be drawn, and such money is rot appropriated for any
other pu pose .
/s/97 19 i32
SUPPORT FOR PEOPLES ST. T -HEAD PROJECT
$359,134
10/27/87
"kip/2)4e
FIN 2-55
Revised 7/31/69
CITY OF CORPUS CHRISTI, =AS
CERTIFICATIC'AV OF FUNDS
(City r Article IV Section 21)
October 27, 1988
I certify to the City Council that $ 3,766,496
, the amount required for
the contract, agreement, obligation or expenditures contemplated in the above
and foregoing ordinance is in the Treasury of the City of Corpus Christi to the
credit of:
Fund No. and Name
Project No.
Project Narre
Reinvestment Zone No. 1
various projects__ rebates
taxing entities
(includin• Cit ) CC Museum Ex.•ansion Pro ' ect
from which it is proposed to be drawn, and such money is rot appropriated for any
other purpose.
/ CA2 19 g2
Rebates to taxing entities
CC Museum Expansion Project
$1,938,712
1,827,784
$3,766,496
FIN 2-55
Revised 7/31/69 3, 9 i Sri 2L 6 .16 7/3,JW
CiYv 10/2.7/
The above resolution
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Cl i f Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Sl avi k
Linda Strong
99.066.01
Corpus Christi, Texas
(a day of Aajuyamit 198
was passed
by the following vote:
20 52 0