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RESOLUTION
INITIATING THE CITY COUNCIL'S REVIEW AND IMPLEMENTATION
OF REVISED POLICIES TO GOVERN THE ADOPTION OF THE CITY'S
CAPITAL IMPROVEMENT PLAN AND USE OF THE COMMERCIAL
PAPER PROGRAM
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. Prior to the adoption of the City's next Capital Improvement Plan, the City
Council shall amend the Council Policies in Part II of the Code of Ordinances to reflect
the following practices:
a. The Council shall replace the current Commercial Paper Program with a more
formal bond or revenue note issuance that requires each project approved by
Council to be authorized by funding amount and cost category (i.e., design,
construction, inspection, etc.).
b. The Council's approval of the Capital Improvement Plan for the City's utilities
shall precede or at the latest coincide with the Council's approval of the utilities'
operating budgets. The approval process for the Capital Improvement Plan for
the utilities must include a review of the prior year's budgeted costs to actual
amounts expended; forecasted capital costs, projected utility rate increases, and
estimated operating cost impact.
c. The Council shall develop, deliberate, and formally adopt a long term capital
project strategy, including but not limited to valued engineering, that will be
reviewed on an annual basis prior to the adoption of the City's Capital
Improvement Plan.
d. The Council shall adopt a policy regarding the funding of the utility costs
associated with General Obligation bond projects.
e. The Council shall develop and adopt a policy on the use of the City's capital
reserve funds.
f. The Council shall review the storm water capital projects and the burden on
these projects place on the City's inside the city limits water customers through
the City's water rates.
SECTION 2. The City Manager shall manage the administration of the City's Capital
Improvement Program, and shall publish a City policy that identifies the staff elements
with the necessary authority and responsibility for providing the necessary supporting
materials for the City Council and implementing the policies formally established by the
City Council.
Capital Improvement Plan Resolution 03092011
028994
INDEXED
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SECTION 3. The City Manager shall review the City's utility rate model and present
recommendations to the City Council on how the use of the rate model can be
optimized as a management tool for the City.
SECTION 4. The City's Financial Advisor shall review the City's Capital Improvement
Program to ascertain the potential impacts on the program of future public financing
trends and the risks in the municipal securities market and report its recommendations
to the City Council prior to the adoption of the City's next Capital improvement Plan.
ATTEST:
Armando Chapa
City Secretary
APPROVED: 9th day of March, 2011.
R. Ja ei ngr
Firs Ass tant City Attorney
For City Attorney
Capital Improvement Plan Resolution 0309201/
THE CITY OF CORPUS CHRISTI
Joe Ada
Mayor
Corpus Christi, Texas
of 414tt
, 2011
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Larry R. Elizondo, Sr.
Kevin Kieschnick
Priscilla Leal
John E. Marez
Nelda Martinez
Mark Scott
Linda Strong t/4-1/344-
Capital Improvement Plan Resolution 03092011
028994
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