HomeMy WebLinkAboutOrdinance - 2017-O0114 - Amending The 2016-17 Budget For Municipal Purposes - 09/14/2017First Reading
September 14, 2017
Item No. 6.5
ORDINANCE NO . .....2.017-00114
Second Reading
September 28, 2017
Item No. 6.2
AN ORDINANCE AMENDING THE FY 2016-17 BUDGET FOR MUNICIPAL PURPOSES
RESPECTING THE GENERAL FUND TO APPROPRTA TE ADDITIONAL REVENUE
FROM THE SALE OF BONDS ASSOCTA TED WITH TAX NOTES REFUNDING OF
MASTER LEASE DEBT; TO INCREASE EXPENDITURES IN NON-DEPARTMENTAL
BUDGET FOR CAPITAL LEASE PRINCIPAL PAYMENT AND TO INCREASE
EXPENDITURES FOR EQUIPMENT CAPITAL MOTOR VEHICLES FOR VEHICLES
AND EQUIPMENT TO BE FUNDED FROM TAX NOTES; PROVIDING FOR FILING; AND
PROVIDING FOR A SAVINGS CLAUSE.
WHEREAS, Section 102.01 0 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 bet\veen funds and departments; and
WHEREAS, the City Council deems it advisable to change the FY 2016-17 Budget for
municipal purposes and reallocate funds as follows; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION I. THAT the City Council ofthe City of Lubbock hereby approves changes
to the City of Lubbock Budget FY 2016-17 (Budget Amendment #40) for municipal purposes,
as follmvs:
l. Amend General Fund Revenue by increasing the appropriation for Bond Revenue -Sale
of Bonds by $6,822,623, from $0 to $6,822,623. This funding is the Tax Note proceeds
for the refunding of a portion of the master lease debt and acquisition of vehicles and
equipment for FY 2016-17.
II. Amend the Non-Departmental cost center by increasing the appropriation for capital
lease principal payment by $3,243,973, from $5,324,229 to 8,568,202, for the refunding
of the principal of a portion of the master lease debt.
Ill. Amend General Fund by increasing the appropriation for Equipment Capital Out-Motor
Vehicles by $3,578,650, from $0 to $3,578,650, for the purchase of vehicles and
equipment to be funded with the proceeds from the tax notes issued.
SECTION 2. THAT a copy of the changes made to the City of Lubbock Budget
pursuant to this Ordinance shall be filed with the City Secretary and County Clerk of Lubbock
as required by law.
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 September 14, 2017
Passed by the City Council on second reading on September 28, 2017
ATTEST:
APPROVED AS TO CONTENT:
Chief Financial Officer
APPROVED AS TO FORM:
ccdocs/BudgetFY 1617.Amend40FINi\L.ord
August 31,2017
DANIEL M. POPE, MAYOR