HomeMy WebLinkAboutResolution - 1794 - Creates Six Permanent Capital Maintenance Funds - 08_09_1984t�.
Resolution #1794
Agenda Item #52
8/9/84
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RESOLUTION
WHEREAS, the City Council of the City of Lubbock desires to protect
the public investment in all public buildings and public facilities owned
by the City of Lubbock and finds it desirable to maintain said buildings
and facilities in serviceable condition; and
WHEREAS, the City Council believes that such maintenance may be
secured by the creation of Permanent Capital Maintenance Funds within the
General Fund, the Water Fund, the Sewer Fund, the Sanitation Fund, the
Electric Fund and the Airport Fund; and
WHEREAS, such Permanent Capital Maintenance Funds shall be dedicated
solely to themaintenanceof public buildings and facilities owned by the
City; and
WHEREAS, the City Council has determined that the creation of said
Funds will be in the best interest of the citizens of the City of Lubbock;
NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT there BE and is hereby created Permanent Capital
Maintenance Funds within the General Fund, the Water Fund, the Sewer Fund,
the Sanitation Fund, the Electric Fund and the Airport Fund to provide
solely for the maintenance, repair or replacement of major components of
all public buildings and public facilities owned by the City.
SECTION 2. THAT the Funds herein established shall receive monies
dedicated and deposited therein on an annual basis as part of the annual
budgetary process of the City of Lubbock. Monies for the General Fund
Permanent Capital Maintenance Fund shall include, but not be limited to, a
minimum of 2.5% of the City sales tax revenues received annually.
SECTION 3. THAT the reserves created in the Funds shall be used
solely for the following purposes:
A. To provide for the maintenance, repair or replacement of major
components of public buildings and public facilities owned by the
City. This includes repairs to such items as roofs, floors,
exterior structures, heating and air conditioning systems, and
plumbing and electrical systems. Expansions or enhancements of
such buildings or facilities are not to be funded by said Funds.
B. To provide for the replacement of major motorized vehicles or
mobile pieces of major equipment.
SECTION 4. THAT the reserves created in the Funds shall not be used
for routine or minor building or facility upkeep and repair.
SECTION 5. THAT all expenditures from said Funds must be consistent
with approved contracts or bid specifications and that policies and proce-
dures for the administration of said Funds shall be developed by the City
Manager.
SECTION 6. THAT in the event of major natural disaster or other
catastrophy resulting in extreme emergency, reserves from said Funds may be
used for purposes other than those identified herein with approval of the
City Council.
Passed by the City Council this 9th day of August 1984.
ALA NR , A OR
ATTEST:
Ranette Boyd, City Secre ry
APPROVED AS TO CONTENT:
lye
Rit Harmon, Assistant City Manager
APPROVED AS TO FORM:
0 old G. Vandiver, Assistant
City Attorney
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