HomeMy WebLinkAboutOrdinance - 2020-O0061 - Budget Amendment 24First Reading
May 12, 2020
Item No. 6.5
ORDINANCE NO. 2020-00061
Second Reading
May 26, 2020
item No, 7.1
AN ORDINANCE AMENDING THE FY 2019-20 BUDGET FOR MUNICIPAL PURPOSES
RESP1?CTTNG THE LUBBOCK BUSINESS PARK TAX INCREMENT FINANCE ('TIF)
OPERATING BUDGET AND THE CAPITAL FUND TO ESTABLISH CAPITAL
IMPROVEMENT PROJECT 92671, IVORY STREET; 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 2019-20 Budget for
municipal purposes and reallocate funds as follows; NOW, THEREFORE,
BE IT ORDAINED BYTHE HE CITY COUNCII, 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 2019-20 (Budget Amendment #24) for municipal purposes,
as follows:
1. Establish Capital Improvement Project 92671, Ivory Street, and appropriate $3.265,503
to construct Ivory Street in the Lubbock Business Park T1F from Lubbock Business
Park Blvd. to Vassar Street. The funding will be $3,265,503 cash from a Transfer from
the Lubbock Business Park T1F Operating Budget.
2. Amend Lubbock Business Park TIF FY 2019-20 Operating Budget by increasing the
appropriation for the Transfer to LBP Capital by $3,265,503. from $0 to $3,265,503. The
funding wIII be cash from the Lubbock Business Park TI1= Fund.
S1-:CTION 2. TIIA'T 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. THATT 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 May 12, 2020
Passed by the City Council on second reading on May 26, 2020
DANIEL M. POPE, MAYOR
ATTEST:
Rebe ca Garza
City StIcretary
APPROVED AS TO CONTENT:
D. la Kostelich
Chief Financial Officer
APPROVED AS TO FORM:
Amy Ws
De City Attorney
ccdoc1
/audgadY1920.Amend24 ord
April 28.2020