HomeMy WebLinkAbout029762 ORD - 03/19/2013Ordinance
Advancing $1,000,000 in cash from the No. 1020 General Fund and
appropriating it in the No. 3350 Public Health & Safety Fund as a loan to
fund the Police Public Safety Warehouse Project No 140252; loan to be
repaid from the No. 1061 Law Enforcement Trust Fund in the amount of
$250,000 per year for four years at a simple interest rate of 4% annually;
and amending the FY2012 -2013 Capital Improvement Budget adopted by
Ordinance No. 029565 to increase expenditures by $1,000,000.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS:
SECTION 1. That $1,000,000 is advanced from the No. 1020 General Fund to the No. 3350
Public Health & Safety Fund as a loan to fund the Police Public Safety Warehouse Project No.
140252. The loan will bear a 4% simple interest rate annually.
SECTION 2. The No.1061 Law Enforcement Trust Fund will annually transfer in the amount of
$250,000 plus 4% interest per year for four years to the No. 3350 Public Health & Safety Fund
that will then repay the $250,000 plus 4% interest per year to the No. 1020 General Fund.
SECTION 3. That the FY 2012 -2013 capital improvement budget adopted by Ordinance
029565 is amended by increasing expenditures by $1,000,000.
029762
INDEXED
That the foregoing or n rice was
reading on this the Teny of
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
d for the first time and passed to its second
iO3by the following vote;
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
That thp.Megoing or finance was read fo the'second time and passed finally on this
the 1 day of ct,v-C'1 , 4-02 , by the following vote:
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
t '
PASSED AND APPROVED, this the 1 ! th day of C ,
ATTEST:
Armando Chapa
City Secretary
Nelda Martinez
Mayor
029762
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money required
for the current fiscal year's portion of 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. Future payments are subject to annual appropriation
by the City Council.
MOUrefri �q
City Council Action Date: e.1;r44.eicv-26-, 2013
Agenda Item: Advancing $1,000,000 in cash from the No. 1020 General Fund and
appropriating it in the No. 3350 Public Health & Safety Fund as a loan to fund the Police Public
Safety Warehouse Project No. 140252; loan to be repaid from the No. 1061 Law Enforcement
Trust Fund in the amount of $250,000 per year for four years at a simple interest rate of 4%
annually; and amending the FY2012 -2013 Capital Improvement Budget adopted by Ordinance
No. 029565 to increase expenditures by $1,000,000.
Amount Required: $ $1,000,000
Fund Name
Account
No.
Fund No.
Org. No.
Project No.
Amount
General Fund
111600
1020
Decnoco
-
$1,000,000
Total
$1,000,000
['Certification Not Required
1C3. Director of of Financial Services
Date: .2 -5- dr3
/3 - 0 oOt'z