HomeMy WebLinkAbout030842 ORD - 05/17/2016 ORDINANCE APPROPRIATING $180.48 OF INTEREST EARNED AND
APPROVING USE OF $3,379.80 OF INTEREST EARNINGS AND
$27,703.31 OF DEVELOPER DEPOSITS IN THE NO. 4730
INFRASTRUCTURE FUND TO REIMBURSE ESTEBAN R. ALANIZ FOR
1/2 STREET CONSTRUCTION COST OF CONSTRUCTING HOMEDALE
DRIVE.
WHEREAS, On October 11, 2005, The City of Corpus Christi (the CITY)
accepted $13,056.81 from Diamondhead Development Co., as payment in lieu of
Diamondhead Development Co.'s obligation to construct one-half of Homedale Drive
and supporting infrastructure as required to develop and plat Homedale Addition Unit 1.
WHEREAS, On November 8, 2005, The City of Corpus Christi (the CITY)
accepted $14,646.50 from Diamondhead Development Co., as payment in lieu of
Diamondhead Development Co.'s obligation to construct one-half of Homedale Drive
and supporting infrastructure as required to develop and plat Homedale Addition Unit 2.
WHEREAS, The initial deposit of $13,056.81 from Diamondhead Development
Co., has accrued $1,588.51 in interest earnings. The initial deposit of $14,646.50 from
Diamondhead Development Co., has accrued $1,791.29 in interest earnings.
WHEREAS, This ordinance as presented will streamline the required
appropriations and transfers of deferment agreement amounts along with interest
earned to reimburse Esteban R. Alaniz for his shared cost of constructing Homedale
Drive.
WHEREAS, Esteban R. Alaniz will construct Homedale Drive, and the public
improvements were accepted by the CITY on March 2, 2015.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS:
SECTION 1. Interest earnings from Diamondhead Development, Co., of $180.48
are appropriated in No. 4730 Infrastructure Fund.
SECTION 2. Security held from Diamondhead Development, Co., is authorized by
M2005-351 and M2005-388 in the amount of $27,703.31 and interest earnings of
$3,379.80 for the sum of $31,083.11 is approved for reimbursement to Esteban R.
Alaniz for 1/2 street construction costs of Homedale Drive from No. 4730
Infrastructure Fund.
SECTION 3. Reimbursement to Esteban R. Alaniz in the amount of $31,083.11 is
approved from the No. 4730 Infrastructure Fund for the shared cost to construct
Homedale Drive.
03084'
INDEXED
That the foregoing ordinance was read for the fir t time and passed to its second
reading on this the 1014 'day of 1/1/1x',(, , {, I( ; by the following vote:
Nelda Martinez I.,4! Brian Rosas 1
Rudy Garza '..V • Lucy Rubio �":
a
Michael Hunter L.,'';; Mark Scott /AJAI
Chad Magill t; ,I. Carolyn Vaughn / V,i ,
Colleen McIntyre f .,
/
That the fore oing ordinanc was read for the second time and passed finally on
this the � ''day of , 23 I (, by the following vote:
Nelda Martinez Brian Rosas _6,2(y.
`
Rudy Garza I . 4 1 Lucy Rubio
I
Michael Hunter Mark ScottI' ,
t____ /I
Chad Magill Carolyn Vaughn /I
Colleen McIntyre I
PASSED AND APPROVED, this the /V7
th day of sliii 0 , 2a IY%
ATTEST:
#.Pe-64--6 6e"+-^ 1 A A-A r
Rebecca Huerta Nelda Martinez
City Secretary Mayor
It
'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: May 17, 2016
Agenda Item: Ordinance appropriating $180.48 of interest earned and approving use of
$3,379.80 of interest earnings and $27,703.31 of developer deposits in the No. 4730
Infrastructure Fund to reimburse Esteban R. Alaniz for '/ street construction cost of
constructing Homedale Drive.
Amount Required: $ 31.083.11
Fund Name Accounting Unit Account Activity No. Amount
No.
Infrastructure Fund 4730 263055 $3,379.80
Infrastructure Fund 4730 263055 $27,703.31
Total $31,083.11
❑ Certification Not Required
Director of Financial Services
Date: MAY 0 9 2016
/ 6-0115V