HomeMy WebLinkAbout032959 ORD - 01/10/2023Ordinance authorizing the Second Amended and Restated Addendum No. 1 to
Lease Agreement with Foresight Corpus Christi Golf, L.L.C. a Texas Limited
Liability Company, which provides for $412,000.00 from the Golf Fund and
$1,160,000 from the anticipated Certificates of Obligation for increased
construction costs for improvements to the Lozano Golf Center Executive Nine
Hole Course and practice range; appropriating $412,000 from the Golf Fund; and
amending the operating and capital budgets.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL FOR THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. The City Council specifically finds that the foregoing statements included in
the preamble of this ordinance are true and correct and adopts such findings for all intents
and purposes related to the authorization of this project.
SECTION 2. That funds in the amount of $412,000.00 are appropriated from the Golf
Fund No. 4690 and transferred to the CIP Fund 3280 for improvements at the practice
range and executive 9 -hole course at the Gabe Lozano Golf Course, with $400,000 for
the additional construction costs and $12,000 for administrative expenses.
SECTION 3. That the FY2022-23 Operating Budget adopted by Ordinance No. 032855
is amended to increase expenditures by $412,000.00.
SECTION 4. That the FY 2022-23 Capital Budget adopted by Ordinance No. 032856 is
amended to increase revenues and expenditures by $412,000.00.
SECTION 5. That the City Manager or designee is authorized to execute the Second
Amended and Restated Addendum No. 1 to Lease Agreement with Foresight Corpus
Christi Golf, L.L.C. a Texas Limited Liability Company, which provides for $400,000.00
from the Golf Fund and $1,160,000 from the $1,200,000 that is anticipated to be included
in forthcoming Certificates of Obligation for the increased construction costs for the
improvements at the practice range and executive 9 -hole course at the Gabe Lozano Golf
Course.
032 959
SCANNED
That the foregoing ordinance was read for the first time and passed to its second
reading on this the day of Q-JQ 0(2022, by the following vote:
Paulette Guajardo
Roland Barrera
Gil Hernandez
Michael Hunter
Billy Lerma
k
John Martinez
Ben Molina
Mike Pusley
Greg Smith
1,t
That the foregoing ordinance was read for the second time and passed finally on this
the Ps^ day of o 2023, by the following vote:
Paulette Guajardo
Roland Barrera
Sylvia Campos
Gil Hernandez
Michael Hunter
L
Jim Klein
Mike Pusley
Everett Roy
Dan Suckley
PASSED AND APPROVED on this the 1641'f\ d
ATTEST:
Rebecca Huerta
City Secretary
, 20?.
032959 .
)14
Paulette Guajardo
Mayor
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: 12/20/2022 Legistar Number: 22-1997
Agenda Item:
Ordinance authorizing the Second Amended and Restated Addendum No. 1 to Lease Agreement with
Foresight Corpus Christi Golf, L.L.C. a Texas Limited Liability Company, which provides for
$412,000.00 from the Golf Fund and $1,160,000 from the approved Certificates of Obligation for
increased construction costs for improvements to the Lozano Golf Center Executive Nine Hole Course
and practice range; appropriating $412,000 from the Golf Fund; and amending the operating and capital
budgets.
Amount Required: $ 1.572.000.00
Fund Name
Accounting Unit
Account No.
Activity No.
Amount
Golf Fund
4690-141
251850
N/A
$412,000.00
Park & Rec 2023 CO
3298-142
550910
220183298EXP
$1,160,000.00
Total
$1,572,000.00
Certification Not Required
AAA, 9.4At/ii 47)14-7--
fpa._ Director of Financial Services
Date: L. 1,III 2_ogo