HomeMy WebLinkAbout028431 RES - 12/08/2009Page 1 of 3
RESOLUTION
APPROVING THE ACTIONS OF THE BOARD OF DIRECTORS OF THE
CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION THAT ESTABLISHED THE ARENA MAINTENANCE
AND REPAIR RESERVE ACCOUNT IN THE FUND 1130 "ARENA
FACILITY FUND," TRANSFERRED $150,000 FROM THE ARENA
UNRESERVED FUND BALANCE IN THE FUND 1130 "ARENA
FACILITY FUND" TO THE ARENA MAINTENANCE AND REPAIR
RESERVE ACCOUNT, AND AUTHORIZED THE CORPORATION'S
EXECUTIVE DIRECTOR TO EXPEND FUNDS FOR REPAIRS AND
EMERGENCY EXPENDITURES FROM THE ARENA MAINTENANCE
AND REPAIR RESERVE ACCOUNT WITHOUT THE APPROVAL OF
THE BOARD OF DIRECTORS UNDER THE SAME POLICIES AND
PRACTICES AS THE CITY MANAGER IS AUTHORIZED TO EXPEND
MONEY ON BEHALF OF THE CITY OF CORPUS CHRISTI WITHOUT
APPROVAL BY THE CITY COUNCIL
WHEREAS, on November 16, 2009, the Board of Directors of the Corpus Christi
Business and Job Development Corporation ("Type A Board") adopted a motion
establishing the Arena Maintenance and Repair Reserve Account in the Fund 1130
"Arena Facility Fund," transferring $150,000 from the Arena unreserved fund balance in
the Fund 1130 "Arena Facility Fund" to the Arena Maintenance and Repair Reserve
Account, and authorizing the Corporation's Executive Director to expend funds for
repairs and emergency expenditures from the Arena Maintenance and Repair Reserve
Account without the approval of the Board of Directors under the same policies and
practices as the City Manager is authorized to expend money on behalf of the City of
Corpus Christi without approval by the City Council;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. The City Council approves the establishment of the Arena Maintenance
and Repair Reserve Account in the Fund 1130 "Arena Facility Fund," the transfer of
$150,000 from the Arena unreserved fund balance in the Fund 1130 "Arena Facility
Fund" to the Arena Maintenance and Repair Reserve Account, and authorizing the
Corporation's Executive Director to expend funds for repairs and emergency
expenditures from the Arena Maintenance and Repair Reserve Account without the
approval of the Board of Directors under the same policies and practices as the City
Manager is authorized to expend money on behalf of the City of Corpus Christi without
approval by the City Council.
028431
Resolution -- Arena Maintenance and Repair Reserve Fund 11302009
ATTEST:
(6)„„9,-eo,
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THE CITY OF CORPUS CHRISTI
Armando Chapa
Joe Aderrne
City Secretary Mayor
APPROVED: 30th day of November, 2009.
R. Jayeinin
First Assistant City Attorney
For City Attorney
Resolution -- Arena Maintenance and Repair Reserve Fund 11302009
Page 3 of 3
Corpus Christi, Texas
of U,14/6. , 2009
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Brent Chesney
Larry R. Elizondo, Sr.
Kevin Kieschnick
Air
Priscilla Leal
John E. Marez
Nelda Martinez
Mark Scott
028431
Resolution -- Arena Maintenance and Repair Reserve Fund 11302009