HomeMy WebLinkAbout030961 ORD - 09/20/2016 Page 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 $2,000,000 to
expand its undergraduate degrees in civil and industrial 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 $2,000,000 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 2015-2016
operating budget, adopted by Ordinance No. 030620, by increasing
proposed expenditures by $2,000,000.
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 $2,000,000 to expand its undergraduate degrees in
civil and industrial engineering through the purchase of laboratory equipment and
retrofitting existing laboratories as approved by the Type A Corporation is 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 $2,000,000 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 civil and industrial engineering through the purchase of
laboratory equipment and retrofitting existing laboratories.
SECTION 3. That Ordinance No. 030620, which adopted the FY 2015-2016 Operating
Fund, is changed to increase proposed expenditures in the No. 1140 Business/Job
Development Fund by $2,000,000 for a business incentive grant from the Type A
Corporation to Texas A&M University— Corpus Christi to expand its undergraduate
degrees in civil and industrial engineering through the purchase of laboratory equipment
and retrofitting existing laboratories.
PASSED AND APPROVED, this theth day of _° Oj(-
M016.
ATTEST:
foci
Re ecca Huerta Nelda Martin
City Secretary Mayor
4edeb26c-984b-4385-9062-0f5097c9826e
u30961
INDEXED
Page 2 of 2
That the foregoing ordin nce w s rad for the first time and passed to its second
reading on this the t 3-"day of 2016, by the following vote:
Nelda Martinez
Rudy Garza
Michael Hunter
Chad Magill
Colleen McIntyre C� 0
Brian Rosas
Lucy Rubio
Mark Scott
41
Carolyn Vaughn I
That ther,f9cing ordinance was r-ad for the second time and passed finally on this
the ay of • °, 016, by the following vote:
Nelda Martinez LA /
Rudy Garza Li
Michael Hunter
Chad Magill
Colleen McIntyre
Brian Rosas
Lucy Rubio ,, /�
Mark Scott Iit1G
Carolyn Vaughn _
4edeb26c-984b-4385-9062-0f5097c9826e
03096 1
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: September 20, 2016 Legistar Number: 16-0752
Agenda Item:
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 $2,000,000 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 $2,000,000 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 2015-2016 operating budget, adopted by
Ordinance No. 030620, by increasing proposed expenditures by $2,000,000.
Amount Required: $2,000,000.00
Fund Name Account No. Fund No. Org. No. Project No. Amount
CCBJDC 530000 1140 15020 $2,000,000.00
Total $2,000,000.00
❑ Certification Not Required
Director of Financial Services
Date: SEP 1 3 2016