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HomeMy WebLinkAboutResolution - 2000-R0090 - Authorize Transfer Of Funds To Lubbock Convention And Visitors Bureau - 03/23/2000Resolution No. 2000 -R0090 - March 23, 2000 Item No. 45 RESOLUTION WHEREAS, in 1999 the Lubbock Convention and Visitors Bureau bid for and was awarded a contract to host the Miss Texas USA Pageant through 2003; and WHEREAS, one of the requirements of the said contract is an obligation on the part of the Lubbock Convention and Visitors Bureau to provide supplemental lighting over and above the lighting then in the inventory of the Municipal Auditoriums lighting inventory; and WHEREAS, the cost to the Lubbock Convention and Visitors Bureau for renting the supplemental lighting over the life of the contract is estimated to be Two Hundred Sixty Six Thousand and no/100 Dollars ($266,000.00); and WHEREAS, the cost of purchasing the supplemental lighting equipment is estimated to be One Hundred Twenty Six Thousand and no/100 Dollars ($126,000.00); and WHEREAS, the Lubbock Convention and Visitors Bureau has proposed the purchase of the supplemental lighting. Forty Two Thousand and no/100 Dollars ($42,000.00) of the purchase price is proposed to be transferred to the Lubbock Convention and Visitors Bureau from the Hotel Motel Tax Reserve with a requirement that Lubbock Convention and Visitors Bureau reimburse the Hotel Motel Tax Reserve over the nest two years; and WHEREAS, the City Council of the City of Lubbock finds that the proposed transfer and use of Forty Two Thousand and no/100 Dollars ($42,000.00) from the Hotel Motel Tax Reserve complies with the requirements of Tax code Section 351.101; and WHEREAS, the Lubbock Hotel Motel Association has expressed its support for the use of funds from the Hotel Motel Tax Reserve for the purchase of the supplemental lighting; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized on behalf of the City of Lubbock to transfer funds in the amount of Eight Four Thousand and no/100 Dollars ($84,000.00) to the Lubbock Convention and Visitors Bureau for the purchase and installation of lighting equipment for the Municipal Auditorium that is required for the Miss Texas USA Pageant. These funds would be transferred from the Hotel Motel Tax Reserve Fund in the amount of Forty Two Thousand and no/100 Dollars ($42,000.00) to be repaid by the Convention Bureau over a two (2) year period and from an existing capital project in the amount of Forty Two Thousand and no/100 Dollars ($42,000.00) from the General Facilities and System Improvements Fund. Passed by the City Council this 23rd IWI March 00. "SITFON, MAYOW Page 1 of 2 APPROVED AS TO CONTENT: J&mow Avs�l Tommy Go#zalez Managing Director Civic Services APPROVED AS TO FORM: n .--t.-&l. Assistant City Attorney JMK:cp Ccdocs/MissTexasPageantRes March 15, 2000 Page 2 of 2