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Home My WebLink About028571 ORD - 04/20/2010Page 1 of 2 ORDINANCE APPROPRIATING $2,937,723.38 IN UTILITY REVENUE BOND INTEREST EARNINGS AND UNAPPROPRIATED TRANSFER OF PROCEEDS RELEASED THROUGH THE PURCHASE OF A SURETY BOND IN THE FUNDS AS LISTED IN ATTACHMENT 1, SECTION 3 FOR THE SUPPORT OF THE CITY'S APPROVED CAPITAL IMPROVEMENT PROGRAM; CHANGING THE FY 2009-2010 CAPITAL IMPROVEMENT BUDGET ADOPTED BY ORDINANCE NO. 028449 TO INCREASE EXPENDITURES BY $2,937,723.38; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That $2,937,723.38 in Utility Revenue Bond interest earnings and unappropriated transfer of proceeds released through the purchase of a surety bond in the funds as listed in Attachment 1, Section 3 is appropriated for the support of the City's approved Capital Improvement Program. SECTION 2. That the FY 2009-2010 Capital Improvement Budget adopted by Ordinance 028449 is changed to increase expenditures by $2,937,723.38. 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 ordinance is passed and takes effect upon first reading as an emergency measure this the4day of April, 2010. ATTEST: CITY OF CORPUS CHRISTI Armando Chapa Joe Ada City Secretary Mayor APPROVED as to form April 12, 2010 By: o� Lisa Agu Assistant ity Attorney For City Attorney 028571 H:\LEG-DIR\Lisa\2010 Ordinance\ORD-appropUtilRevenueV2.doc INDEXED Page 2 of 2 Corpus Christi, Texas 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, Council Members Joe AVeg-ada-4'ne e Mayor 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 74 -Pic 028571 H:\LEG-DIR\Jeannie\Lisa\Ordinances-Resolutions\ORD-appropUtilRevenue.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 2010 Required Uses City Match for FAA Grant Projects 3020B 3024 Airport CIP Fund - Other Airport 2000A Revenue Bond 771,677.51 Land Acquisition for future FAA projects 46,532.86 9,163.12 310,311.96 City Match for FAA Grant Projects City Match for FAA Grant Projects Debt Service 3025 4621 Airport 2000B Revenue Bond Airport Passenger Facility Charge Fund AIRPORT CIP UNAPPROPRIATED TOTAL: 1,213,197.11 SECTION 2: BOND PROCEEDS GENERAL OBLIGATION (GO) / CERTIFICATES OF OBLIGATION (CO) / TAX ANTICIPATION NOTES (TN) Fund # Description Unappropriated Interest/Other Requirement / Staff Recommendation 3124 Bayfront 2007 GO (Bond Issue 2004) 318,494.51 Approved Bond Projects Not Complete 3125 Bayfront 2008 TN 62,048.05 Approved Bond Projects Not Complete 3126 Bayfront 2009 GO (Bond Issue 2008) 30,188.08 Approved Bond Projects Not Complete 3127 Bayfront 2009 CO (Bond Issue 2004) 9,984.44 j Approved Bond Projects Not Complete BAYFRONT UNAPPROPRIATED TOTAL: 420,715.08 3363 Public H & S 2007 GO (Bond Issue 2004) 39,277.75 * All Projects Complete - Funds Available 3371 Health Dept 2009 GO (Bond Issue 2008) 1,723.71 Approved Bond Projects Not Complete 3191 Fire 2009 GO (Bond Issue 2008) 12,937.21 Approved Bond Projects Not Complete 3341 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 Library 2007 GO (Bond Issue 2004) 15,623.60 All Projects Complete - Funds Available 3226 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 Park 2005 GO (Bond Issue 2004) 66,507.98 Approved Bond Projects Not Complete 3290 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 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 Street 2009 GO (Bond Issue 2008) 154,101.27 Approved Bond Projects Not Complete 3547 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 Pane 1 of 3 SECTION 3: REVENUE BONDS Fund # 3492 4525 4526 4150 4551 4080 4090 4475 4476 Description Storm Water 2006 Revenue Bond Storm Water 2009 Revenue Bond Storm Water 2009 Revenue Bond (Bond Issue 2008) STORM WATER CIP UNAPPROPRIATED TOTAL: Unappropriated Interest/Other 4,007.15 1,489.03 19,174.22 24,670.40 Gas 2006 Revenue Bond Gas 2009 Revenue Bond (Bond Issue 2008) GAS CIP UNAPPROPRIATED TOTAL: Water CIP Fund Water 2006 Revenue Bond Water 2009 Revenue Bond 338.32 308.37 646.69 Water 2009 Revenue Bond (Bond Issue 2008) WATER CIP UNAPPROPRIATED TOTAL: 3430 4250 4500 4501 1,476.19 9,845.34 519.36 8,560.51 Wastewater CIP Fund Wastewater 2006 Revenue Bond Wastewater 2009 Revenue Bond Wastewater 2009 Revenue Bond (Bond Issue 2008) WASTEWATER CIP UNAPPROPRIATED TOTAL: 20,401.40 Requirement / Staff Recommendation Available for Current Year CIP Available for Current Year CIP Approved Bond Projects Not Complete Available for Current Year CIP Approved Bond Projects Not Complete Available for Current Year CIP Available for Current Year CIP Available for Current Year CIP Approved Bond Projects Not Complete 2,869,172.22 15,422.04 884.92 6,525.71 2,892,004.89 Available for Current Year CIP Available for Current Year CIP Available for Current Year CIP Approved Bond Projects Not Complete 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 3489 Storm Water 2007 TML (North Port) 4086 Water 2007 TML (North Port) 4246 Wastewater 2007 TML (North Port) Unappropriated Interest/Other 17,451.19 Requirement / Staff Recommendation Approved Bond Project Not Complete 3542 Street 2007 TML (North Port) 3543 Street 2007 TML (NAS AICUZ) TML UNAPPROPRIATED TOTAL: 1,084.69 2,968.26 24,273.95 19,535.72 Approved Bond Project Not Complete Approved Bond Project Not Complete Approved Bond Project Not Complete Restricted Fund for Military Projects 65,313.81 3270 Seawall Bond Fund 3275 Arena Bond Fund SALES TAX BOND UNAPPROPRIATED TOTAL: 3277 Packery Channel TIF Fund 3160 3210 3280 3350 3600 195, 031.09 2,637.28 197,668.37 Administered by Type A Board Administered by Type A Board 9,960.86 City Hall CIP Fund Library CIP Fund Park CIP Fund Public Health & Safety CIP Gas CIP Fund GENERIC CIP FUND UNAPPROPRIATED TOTAL: 457.09 Approved TIF Project Not Complete Available for Current Year CIP 540.15 Available for Current Year CIP 2,867.53 1,000.00 953.27 Available for Current Year CIP Available for Current Year CIP Available for Current Year CIP 5,818.04 SPECIALITY BOND UNAPPROPRIATED TOTAL: 278,761.08 ATTACHMENT 1 Pana9nf� SECTION 5: OLDER BOND FUNDS (ISSUED PRIOR TO 2005) Fund # Description 3121 Bayfront 1994B CO 3357 Public Health & Safety 1995 GO 3359 Public H&S 2004 CO (Landfill) 3411 B Street 2000 CO 3537 Street 1995 CO 4084 Water 2002 Revenue Bond 4085 Water 2004 Revenue Bond 4242 Wastewater 1995 State Revolving Fund OLDER BOND FUNDS UPAPPROPRIATED TOTAL: SECTION 6: OTHER UNAPPROPRIATED FUNDS Fund # Description Unappropriated Interest/Other 1,674.18 34,097.15 13, 786.91 1,502.12 8,891.42 207.64 150.29 2,099.34 Requirement / Staff Recommendation Older Fund Recommend Closing Older Fund Recommend Closing Older Fund Recommend Closing Older Fund Recommend Closing 62,409.05 Street Assessments Street Closures OTHER UNAPPROPRIATED FUNDS TOTAL: Unappropriated Interest/Other Older Fund Recommend Closing Older Fund Recommend Closing Older Fund Recommend Closing Older Fund Recommend Closing Requirement / Staff Recommendation 430,054.45 291, 542.64 721,597.09 Approved Assessment Projects Approved Assessment Projects ATTACHMENT 1 Pnnc 3 of 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 C. Ordinance appropriating $2,937,723.38 in UTILITY REVENUE BOND interest earnings, and unappropriated transfer of proceeds released through the purchase of a surety bond in the funds as listed in Attachment 1, Section 3 for the support of the City's approved Capital Improvement Program; Changing the FY 2009-2010 Capital Improvement Budget adopted by Ordinance No. 028449 to increase expenditures by $2,937,723.38; and declaring an emergency. Amount Required: $2,937,723.38 Fund Name Fund No. Org. No. Account No. Project No. Amount Various See: Attachment A Section 3 00000 251850 $2,937,723.38 Total $2,937,723.38 Certification Not Required Print on Green Paper] Director of Financial Services Date: s- - t CITY OF CORPUS CHRISTI L:\BUD-DIR\LYNDA\Agenda Items\Mar 09 - Fund approp\Cover.DOC