HomeMy WebLinkAbout026215 ORD - 04/12/2005
AN ORDINANCE
APPROPRIATING A TOTAL NOT TO EXCEED $3,500,000 FROM THE
UNRESERVED FUND BALANCE IN THE NO. 3430 WASTEWATER CIP
FUND; LOANING AND APPROVING THE TRANSFER OF AMOUNTS
AS NEEDED TO THE SANITARY SEWER TRUNK SYSTEM TRUST
FUND, TO BE REPAID TO THE NO. 3430 WASTEWATER CIP FUND
AT AN INTEREST RATE EQUAL TO THE AAA RATED 5-YEAR
MUNICIPAL BOND RATE ON THE DATE OF THE LOAN, TO FUND
THE SHORTFALL RESULTING FROM PENDING APPLICATIONS TO
THE SANITARY SEWER TRUNK SYSTEM TRUST FUND; AMENDING
THE 2004/2005 CIP BUDGET ADOPTED BY ORDINANCE #026188 TO
INCREASE APPROPRIATIONS INTO THE NO. 3430 WASTEWATER
CIP FUND BY $3,500,000; AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. That a total not to exceed $3,500,000 from the Unreserved Fund balance
in the No. 3430 Wastewater CIP Fund, is loaned and appropriated as needed into the
Sanitary Sewer Trunk System Trust Fund, to be repaid to the No. 3430 Wastewater CIP
Fund at an interest rate equal to the AM rated 5 year municipal bond rate on the date
of the loan, to fund the shortfall resulting from pending applications to the Sanitary
Sewer Trunk System Trust Fund, and amending the 2004/2005 CIP Budget adopted by
Ordinance #026188 to increase appropriations into the No. 3430 Wastewater CIP Fund
by $3,500,000.
SECTION 2. That 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 1ih day of April, 2005.
ATTEST.
Arman~
City Secretary
Approved as to form onIY:~ri( 1
,2005
By:
~ It--
Joseph arney 0
Assistant City Attorney
For City Attorney
Ord-Appro-SSTrst-Xfer
026215
2
Corpus Christi, Texas
\.,~j-daYOf~,2005
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,
Henry
Mayor
Council Members
The above ordinance was passed by the following vote:
Henry Garrett
Brent Chesney
Melody Cooper
Jerry Garcia
Mark Scott
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Bill Kelly
Rex A Kinnison
John E. Marez
Jesse Noyola
02R215
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 wbich
it is to be drawn, and has not been appropriated for any other purpose.
City Council Action Date: April 12, 2005
Agenda item:
Ordinance appropriating a total not to exceed $ 3,500,000.00 from the Unreserved Fund Balance in the No.
3430 Wastewater CIP Fund; loaning and approving the transfer of amounts as needed to and appropriating in
the Sanitary Sewer Trunk System Trust Fund to be repaid to the No. 3430 Wastewater CIP Fund at an interest
rate equal to the AAA Rated 5-year Municipal Bond Rate on the date ofthe loan, to fund the shortage resulting
from pending applications to the Sanitary Sewer Trunk System Trust Fund.
Amount Required:
$ 3,500,000.00
-
Fund Name Fund No. Orl!.No. Account No. Proiect No. Amount
Wastewater CIP Fund 3430 00000 251850 3,500,000.00
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Total 3,500,000.00
D
Certification not required
(-A~r:_l, () - ~
Director of Fina~cial se7ce:--_
Date: cl / / '1 (.:,
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