HomeMy WebLinkAboutM1987-0341 - 10/06/1987Motions - 10/6/87
5. Approval of the recommendation of the Bond Task Force.
M87-0341
City of Corpus ~.hristi
September 8, 1987
T0: Honorable Mayor and Members of City Council
FROM: Bond Fund Task Force
SUBJECT: Projects Recommended for Funding
During the City Council meeting of August 11, 1987, the Bond Fund Task Force
submitted its report on the proposed FY 87-88 bond sale as directed by the Mayor.
At that time, the Task Force recommended an $8,000,000 bond sale which would
require a 1.5 cent tax rate increase. At a subsequent meeting on August 18,
1987, the City Council accepted the recommendations of the Task Force and added
thereto $250,000 for the purchase of library books. The tax rate of 58 cents per
$100 of taxable value, which included the 1.5 cent tax increase was adopted by
the City Council on August 25, 1987.
The Task Force then set about the task to .determine those projects which were to
be funded from the bond sale and from available balances in the various bond
funds. The Task Force has selected a number of projects and their recommenda-
tions are attached hereto. Priority was given to existing commitments (such as
the Aquarium), projects which are, underway but which need additional funding for
completion, projects for which the engineering and design has been completed and
can proceed to construction, as well. as projects which will spur economic devel-
opment. Funds have also been included for the design of projects which can pro-
ceed to construction upon subsequent bond sales.
It should be pointed out that because of existing available funds, no bond sale
has been recommended for Wastewater projects. However, a total of $2,080,000 has
been allocated to support several 1986 projects as well as to complete three
major projects outside the 1986 program. Existing available monies cannot be
transferred between bond funds and are accordingly reprogrammed within each of
those funds.
In summary, the proposed projects are as follows (for greater detail refer to the
attachment):
WASTEWATER:
Other Sources Bonds
o Sewer Main Rehabilitation $
o C. C. Beach Lift Station "A"
o Waldron Road Trunk
o S/side Treatment Plant Location Study
o Relocation of Wastewater Lines/Channel
Crossing
o Oso Trunk Slip Lining, Phase IV
o Oso Plant Improvements
o For emergencies and unanticipated
needs
50,000
200,000
80,000
50,000
600,000
1,000,000
100,000
836,305
2,916,305
-0-
City of Corpus ,.,.,risti
Other Sources Bonds
DRAINAGE:
Minor Storm Drainage Improvements $100,000
McNorton Area Outfall 200,000
Mary Carroll Channel Widening 120,000
McKenzie Road/Leopard St. Area
Drainage Improvements 150,000
-0- 570,000
AQUARIUM: -0- 2,700,000
AIRPORT:
Taxiway Rehabilitation for Runway
13-31 100,000
Lighting System Rehabilitation for
Runways 13-31 Taxiways 20,000
Terminal Interior: Treatment of
Ceilings and Lighting and
Renovation of Restrooms 280,000
-0- 400,000
PARK AND RECREATION:
Seawall and T-Head Improvements 200,000
Development of Unimproved Park Land 100,000
Nueces River Park Development 100,000
Golf Course Improvements-both 400,000
Broadway Bluff Renovation 20,000 200,000
Dr. Hector P. Garcia Park 29,646
Renovation of Existing Park Land,
Undeveloped & Partially Developed 100,000
Youth Sports Assistance Program 100,000
149,646 1,100,000
STREETS:
City Share of State Highway
Department Projects 2,530,000
City Share of CDBG Improvement
Projects 200,000
Waldron Road - Compton to Purdue 500,000
Traffic Signals 100,000
Neighborhood Sts. Imp.(Gardendale #2) 313,903
413,903 3,230,000
LIBRARY BOOKS: 250,000
Totals: $3,479,854 $8,250,000
Grand Total: $11,729,854
City of Corpus Christi
With the submittal of this report and its acceptance by the City Council, the
work of the Task Force will be completed. The process has been successful as we
believe all sections of the community have been well represented. We strongly
support this recommendation and urge your approval.
~_
~~~-~ ~.
Frank Mendez, C irm
~ ~
~~~ ~~j
Clif Moss
Bill Pruet
ac~
Edward Martin
Vic Penuel ~ ~
Larry M 'or