HomeMy WebLinkAboutOrdinance - 2023-O0151 - Budget Ordinance 2023-O0151, Amendment 4 North Overton TIF - 12/12/2023First Reading
December 12, 2023
Item No. 5.1
Second Reading
January 9, 2024
Item No. 6.1
ORDINANCE NO. 2023-00151
AN ORDINANCE AMENDING THE FY 2023-24 BUDGET FOR MUNICIPAL PURPOSES
RESPECTING THE NORTH OVERTON TIF OPERATING AND CAPITAL PROJECTS
FUND; PROVIDING FOR FILING; AND PROVIDING FOR A SAVINGS CLAUSE
WHEREAS, Section 102.010 of the Local Government Code of the State of Texas
authorizes the City Council to make changes in the budget for municipal purposes; and
WHEREAS, in accordance with the City Budget Ordinance the City Council shall
approve all transfers between funds; and
WHEREAS, the City Council deems it advisable to change the FY 2023-24 Budget for
municipal purposes and reallocate funds as follows; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City Council of the City of Lubbock hereby approves changes
to the City of Lubbock Budget FY 2023-24 (Budget Amendment #4) for municipal purposes, as
follows:
I. Amend Capital Improvement Project 92254, North Overton Public Improvement, and
appropriate funding in the amount of $750,000, from $4,897,351 to $5,647,366.
II. Amend the transfer to CIP in North Overton TIF by increasing $750,000 from
1,750,000 to 2,500,000. Funding will be from North Overton TIF's fund balance.
SECTION 3. THAT should any section, paragraph, sentence, clause, phrase or word of
this Ordinance be declared unconstitutional or invalid for any reason, the remainder of this
Ordinance shall not be affected thereby.
AND IT IS SO ORDERED
Passed by the City Council on first reading on December 12, 2023
Passed by the City Council on second reading on January 9, 2024
TRA YNE, MAYOR
A' 'TEST:
Co ney Pa
City Secretary
APPROVED AS TO CONTENT:
. lu K telich
Chief Financial Officer
APPROVED AS TO FORM:
j !
A s
uty City Attorney
cc do cs I IIB udget F Y23 -24. A m e nd4. ord
November 27, 2023