HomeMy WebLinkAboutResolution - 2004-R0099 - Resolution Establishing Gateway Street Projects Fund - 02/19/2004Resolution No. 2004-R0099
February 19, 2004
Item No. 61
RESOLUTION
WHEREAS, it is the intent of the City Council of the City of
Lubbock to establish the "GATEWAY STREET PROJECTS FUND" to
provide a source of construction funding for street projects designed to spur
development, growth, and redevelopment in Lubbock; and
WHEREAS, the City of Lubbock collects franchise fees and line -
access fees from public utilities using and renting the public rights-of-way
within the city; and
WHEREAS, the City Council desires to use a portion of said
franchise fees and access line fees to fund the "GATEWAY STREET
PROJECTS FUND" beginning with the FY 2004-2005 city budget, now
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
1. THAT the City Manager of the City of Lubbock is hereby instructed to
establish the "GATEWAY STREET PROJECTS FUND" in the FY
2004-2005 city budget; and
2. THAT beginning with the FY 2004-2005 budget, the revenue of forty
per cent (40%) of franchise fees or access line fees collected for each
public utility that pays said fees shall be deposited into the
"GATEWAY STREET PROJECTS FUND"; and
3. THAT it is the intent of this City Council to appropriate said funds in
the FY 2004-2005 budget for construction of street projects
compatible with the purposes expressed in this resolution.
APPROVED AS TO CONTENT: APPROVED AS TOO FORM:
SAII-I&
Quincy Whit67Acting City Manager Linda Chamales, Supervising
Attorney, Office Practice
LLC:cityattf Linda/RES-Gateway Fund
February 10, 2004