HomeMy WebLinkAbout029127 RES - 07/12/2011Page 1 of 2
RESOLUTION
AMENDING PART II, COUNCIL POLICIES, OF THE CORPUS CHRISTI
CODE OF ORDINANCES, TO ADD FIVE POLICIES RELATING TO (1)
APPROVAL OF THE CAPITAL IMPROVEMENT PLAN; (2) CAPITAL
PROJECT STRATEGY; (3) UTILITY COSTS ASSOCIATED WITH
GENERAL OBLIGATION BOND PROJECTS; (4) UTILITY CAPITAL
RESERVE FUNDS; AND (5) STORM WATER CAPITAL PROJECTS, IN
ACCORDANCE WITH RESOLUTION NO. 028994
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, THAT:
SECTION 1. Council Policies, Part II of the Corpus Christi Code of Ordinances, is
amended by adding the following new policies: Section 21, "Approval of Capital
Improvement Plan;" Section 22, "Capital Project Strategy;" Section 23, "Utility Costs
Associated with General Obligation Bond Projects;" Section 24, "Utility Capital Reserve
Funds;" and Section 25, "Storm Water Capital Projects;" each of which a true copy is
attached as Exhibit A and incorporated herein.
ATTEST:
Armando Chapa, City Secretary
APPROVED AS TO LEGAL FORM: 06 -Jul -11
tx witA, 0 e,taiss(
Veronica Ocanas
Assistant City Attorney
For City Attorney
CITY OF CORPUS CHRISTI
Joe Ad e, Mayor
029127.
H:1LEG-DIR\Veronica011.ENG11 AGENDA ITEM S1201110712111071211 RESO adding policy re
adoption of CIP.docx
INDEXED
Corpus Christi, Texas
/116 -day of
,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
David Loeb
417-
/47/dt
029127
Page 2 of 2
H:1LEG-DIR\VeronicaO11.ENG11 AGENDA ITEM S1201110712111071211 RESO adding policy re
adoption of CIP.docx
Exhibit A, Page 1 of 2
21. Approval of Capital Improvement Pian.
Approval of the Capital Improvement Pian for the City's utilities by the City
Council shall precede or at least coincide with the City 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.
22. Capital Project Strategy.
Development, review, and adoption of the City's Capital Improvement Plan must
employ a long term capital project strategy that includes but is not limited to value
engineering. All capita! projects must include a statement as to their impact on the
operating budget.
23. Utility Costs Associated with General Obligation Bond Projects.
In an effort to minimize pressure on utility rates and increase transparency
regarding the full cost of projects included in periodic voter -authorized bond proposals,
all tax -supported projects included in the General Obligation voter -authorized bond
proposals or other tax -supported projects may include funding for all utility needs from
the tax -supported funding source. Further, should there be any subsequent
amendments and/or change orders and/or additives to the General Obligation voter -
authorized or other tax -supported bond projects, separate utility monies will be
expressly prohibited from being used, unless expressly approved by the Assistant City
Manager over Public Works. Additional funding, if required, must come from tax -
supported funding (i.e., General Obligation Bonds, tax notes, Certificates of Obligation,
etc.).
24. Utility Capital Reserve Funds.
For the water, wastewater, gas and storm water utilities, any net assets of each
utility operating fund (defined as that available at the close of the previous fiscal year as
evidenced in the Comprehensive Annual Financial Report) in excess of targeted 3 -
month operating reserves and other necessary reserves will be transferred to a
separate capital reserve account for each utility. Reserves in this capital account shall
be used only for the benefit of the utility from which the reserves originated for purposes
of cash -funding capital projects. If expressly approved by the City Manager or
designee, and from time to time, any available reserve amounts may be transferred
back to that respective utility's operating fund to replenish operating reserves, but only
in cases where that utility's revenues or expenses have been impacted by adverse
changes due to weather, disaster, or other emergency condition and where the revenue
bond coverage of that utility would not be adversely affected.
Exhibit A
C:IDOCUME-1IGLENDA-1.CCP\LOCALS-11TemplExhibit A, as amended, for 071211 RESO adding policy re
adoption of CIP.docx
Exhibit A, Page 2 of 2
25. Storm Water Capital Projects.
The City Council shall review the storm water capital projects and the burden that
these projects place on the City's "inside city limits" water customers through the City's
water rates.
Exhibit A
C:IUOCUME- 11GLENDA-1.CCPILOCALS411TemplExhibit A, as amended, for 071211 RESO adding policy re
adoption of CIP.docx