HomeMy WebLinkAboutResolution - 2002-R0342 - Changes To The City Budget - 08/29/2002Resolutlon No. 2002-RO342
August 29, 2002
Item No. 53
RESOLUTION
WHEREAS, Section 102.010 of the Local Government Code of the State of
Texas authorizes City Councils to make changes in budget for municipal purposes; and
WHEREAS, in accordance with the City Budget Ordinance, the City Manager is
authorized to make transfers between funds, accounts, departments or programs for City
purposes: and
WHEREAS, the City Council deems it advisable to change the budget for
municipal purposes and reallocate funds as follows; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City Manager of the City of Lubbock is hereby
authorized and directed to make the following changes to the City of Lubbock Budget for
municipal purposes:
The East-West Freeway Capital Project in the Streets Capital Projects Fund will
be changed to account for increased costs associated with its completion.
TxDOT's estimate of total R.O.W. costs is now $161,000,000, of which the City
of Lubbock is obligated to pay 10%, or $16,100,000. The City has paid
$6,000,000 to date. The Lubbock TxDOT office is requesting payment of
$6,102,135 to bring the City of Lubbock current on its 10% participation.
Acquisition costs have doubled because of wider R.O.W. than original, a longer
rail relocation length and higher rail construction costs, higher utility relocation
costs, asbestos abatement prior to demolition and inflation.
The current budget is $19,270,000. In order to pay TxDot the payment of
$6,102,135, the budget will need to increase by $4,018,000. City Council is being
asked to authorize the use of the thoroughfare reserves ($1,092,000) and the East-
West Freeway interest reserve ($1,244,000). Another $1,682,000 is to come
from existing capital projects and the budget will be adjusted for this. The other
$2,084,135 is to come from the current budget amount. The attached Exhibit A
outlines the specific changes.
The remaining $4,000,000 would be included in future debt issuances of
$2,400,000 in Spring 2004 and $1,600,000 in Spring 2005. Incurring debt on this
timetable can be accomplished without a tax increase.
SECTION 2. THAT a copy of the change made to the City of Lubbock Budget
pursuant to the Resolution shall be filed with the City Secretary and County Clerk of
Lubbock as required by law.
Passed by the City Council this 29th day of August 2002.
MAYOR
ATTEST:
Garza, City Secretary
APPROVED AS TO CONTENT:
M., L''; 4 &- 1 =1 t���
Melissa Trevino, Budget Manager
APPROVED AS TO FORM:
Db—nald G. Vandiver; First Assistant
City Attorney
DdresBudResMSFreeway
August 19, 2002
FUND: STREET CAPITAL PROJECTS
PROJECT: EAST -WEST FREEWAY
FUND PROJECT #: 915-9513 Resolution No.
LOCATION: BROWNFIELD ROAD/4TH STREET
PROJECT MANAGING DIRECTOR OF STRATEGIC
MANAGER: PLANNING
PROJECT DESCRIPTION
PROJECT PROVIDES FOR THE CITYS COST FOR DESIGN, RIGHT-OF-WAY ACQUISITION, CONSTRUCTION, AND
ASSOCIATED DAMAGES TO THE SEAGRAVES, WHITEFACE, AND LUBBOCK RAILROAD RELOCATION OF THE
RAILROAD LINE OUT OF THE BROWNFIELD ROAD CORRIDOR. PROJECT ALSO PROVIDES FOR THE CITYS SHARE OF
THE RIGHT-OF-WAY ACQUISITION AND UTILITY ADJUSTMENT COST FOR THE EAST -WEST FREEWAY. THE TEXAS
DEPARTMENT OF TRANSPORTATION WILL PAY 90 PERCENT OF THE ABOVE COSTS, AND THE CITY WILL PAY THE
REMAINING 10 PERCENT OF THE COSTS. THE CITY WILL PROVIDE ALL ENGINEERING SERVICES REQUIRED TO
RELOCATE THE RAIL LINE. ADDITIONAL FUTURE FUNDING MAY BE REQUIRED.
ANNUAL OPERATING IMPACT
INCREASE IN STREET MAINTENANCE COSTS DEPENDING UPON PROJECTS COMPLETED.
Exhibit A
PROJECT SCHEDULING
DESIGN 10000
BID 20000
CONSTRUCTION 30000 ACQUISITION 40000
INSTALLATION 50000
START END
START END
FSTART I END I START I END
I START I END
07/89 12/04
09/60 I 12/10
12/97 1 12/06
$1,300,000
$0
1 $13,518,000
11 $8,470,000
$0
ACCOUNT ACCOUNT ACCOUNT ACCOUNT -1
ACCOUNT
FULL-TIME SAL 8002
FULL-TIME SAL 8002 LAND 9280
PROF SVCS 8302
PROF SVCS 8302 RIGHT-OF-WAY 9284
UTILITY RELOC 9252 FULL-TIME SAL 8002
SYS IMP -OTHER 9251 PROF SVCS 8302
COMPLETION 12/10
TOTAL $23,288,000.00
SOURCE OF FUNDING
L -T -D REV 01-02 BUD 02-03
TOTAL FUTURE
1989 GENERAL OBLIGATION BONDS
2,600,000
2,600,000
1989 CERTIFICATE OF OBLIGATION BONDS
4,590,708
4,590,708
1993 GENERAL OBLIGATION BONDS
1,009,292
1,009,292
XDOT
11,070,000
11,070,000
RESERVES
2,336,000
2,336,000
000 GENERAL OBLIGATION BONDS
351,249
351,249
001 GENERAL OBLIGATION BONDS
1,330,751
1,330,751
OTAL
$19,270,000 $4,018,000 $23,288,000
Exhibit A