HomeMy WebLinkAbout030209 ORD - 06/17/2014Page 1 of 2
Ordinance
Approving a Business Incentive Agreement between the Corpus Christi
Business and Job Development Corporation ( "Type A Corporation ") and
Texas A &M University — Corpus Christi to provide a grant of $1,000,000 to
expand its undergraduate degrees in electrical engineering and authorizing
the City Manager, or designee, to execute a Business Incentive Project
Service Agreement with the Type A Corporation regarding implementation
and administration of the Texas A &M University — Corpus Christi Business
Incentive Agreement; and appropriating $1,000,000 from the unreserved
fund balance in the No. 1140 Business /Job Development Fund for said
business incentive grant from the Type A Corporation to Texas A &M
University — Corpus Christi and changing the FY 2013 -2014 operating
budget, adopted by Ordinance No. 029915, by in creasing proposed
expenditures by $1,000,000.
Be it ordained by the City Council of the City of Corpus Christi, Texas:
SECTION 1. That a Business Incentive Agreement between the Corpus Christi
Business and Job Development Type A Corporation and Texas A &M University —
Corpus Christi providing a grant of $1,000,000 to expand its undergraduate degrees in
electrical engineering through the purchase of laboratory equipment and retrofitting
existing laboratories as approved by the Type A Corporation is further approved. The
City Manager or his designee is authorized to sign a Business Incentive Project Service
Agreement with the Type A Corporation implementing and administering the grant.
SECTION 2. That $1,000,000 from the unreserved fund balance in the No. 1140
Business /Job Development Fund is appropriated for a business incentive grant from the
Type A Corporation to Texas A &M University — Corpus Christi to expand its
undergraduate degrees in electrical engineering through the purchase of laboratory
equipment and retrofitting existing laboratories.
SECTION 3. That Ordinance No. 029915, which adopted the FY 2013 -2014 Operating
Fund, is changed to increase proposed expenditures in the No. 1140 Business /Job
Development Fund by $1,000,000 for a business incentive grant from the Type A
Corporation to Texas A &M University — Corpus Christi to expand its undergraduate
degrees in electrical engineering through the purchase of laboratory equipment and
retrofitting existing laboratories.
That the foregoing orck ance was read for the first time and passed to its second
reading on this the i Uay of 2014, by the following vote:
Nelda Martinez
Kelley Allen
ORDINANCE - TAMU -CC4
Chad Magill
Colleen McIntyre
030209
INDEXED
Rudy Garza
Priscilla Leal
David Loeb
Lillian Riojas
Mark Scott
Page 2 of 2
That the fgregoing ordi ance was read for the second time and passed finally on this
the 11 day of , 2014, by the following vote:
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
PASSED AND APPROVED, this the
ATTEST:
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
11 thdayof
. •
Rebecca Huerta
City Secretary
ORDINANCE - TAMU -CC4
2014.
Nelda Marti
Mayor
0 302 «9
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.
City Council Action Date: June 17, 2014
Agenda Item: Approving a Business Incentive Agreement between the Corpus Christi Business
and Job Development Corporation ( "Type A Corporation ") and Texas A &M University — Corpus
Christi to provide a grant of $1,000,000 to expand its undergraduate degrees in electrical
engineering and authorizing the City Manager, or designee, to execute a Business Incentive
Project Service Agreement with the Type A Corporation regarding implementation and
administration of the Texas A &M University — Corpus Christi Business Incentive Agreement;
and appropriating $1,000,000 from the unreserved fund balance in the No. 1140 Business /Job
Development Fund for said business incentive grant from the Type A Corporation to Texas A &M
University — Corpus Christi and changing the FY 2013 -2014 operating budget, adopted by
Ordinance No. 029915, by increasing proposed expenditures by $1,000,000.
Amount Required: $ 1,000,000.00
Fund Name
Account No.
Fund No.
Org. No.
Project No.
Amount
CCBJDC
530000
1140
15020
$1,000,000
Total
$ 1,000,000
❑ Certification Not Required
Director of Financial Services
Date: JUN 0 9 2014