File #: 14-3953    Version: 1 Name: Second Public Hearing on the FY 2014/2015 Capital Improvement Projects Budget and an Ordinance Adopting the FY 2014/2015 Capital Improvements Projects Budget
Type: Ordinance Status: Adopted
File created: 8/8/2014 In control: Budget
On agenda: 9/16/2014 Final action: 9/16/2014
Title: Second Public Hearing on the FY 2014/2015 Capital Improvement Projects Budget and an Ordinance Adopting the FY 2014/2015 Capital Improvements Projects Budget

From

Kathleen C. Mercer

 

Title

Second Public Hearing on the FY 2014/2015 Capital Improvement Projects Budget and an Ordinance Adopting the FY 2014/2015 Capital Improvements Projects Budget

 

Presenter

Kathleen C. Mercer, Director of Budget/Purchasing

 

Recommended Action

Conduct Second Public Hearing and Approve

 

Analysis

On July 22, 2014 the City Council met to deliberate the proposed Capital Improvement Projects Budget.  On Sepember 2, 2014, an additional project was added in the amount of $12, 100,000.

 

Financial Consideration

The proposed capital improvements project budget totals $66,221,336 and will be funded with certificates of obligation and existing resources.  The projects and funding sources are categorized as follows:

 

Proposed Appropriations :

       66,221,336

  Airport 

            940,000

  Capital Reserve 

         1,644,367

  Fire 

         8,622,300

  Lake 

            254,000

  Library 

            968,694

  Municipal Facilities

       15,731,355

  Parks 

         1,528,000

  Police 

       13,460,000

  Storm Water

         4,451,512

  Streets 

         5,646,108

  Solid Waste 

            324,000

  Water 

         7,296,000

  Wastewater

         5,355,000

 

 

Funding sources:

 

Cash/Other resources

       30,448,817

Certificates of Obligation

       33,110,312

Cost of Issuance

            662,207

Sports Corp. Donation

         2,000,000

 

Body

AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE FY 2014/2015 CAPITAL IMPROVEMENT PROJECTS BUDGET SUBMITTED BY THE CITY MANAGER OF THE CITY OF GRAND PRAIRIE, TEXAS, IN THE AMOUNT OF $66,221,336 WITH DETAIL BELOW BY FUND.

 

WHEREAS, the City Manager of the City of Grand Prairie has prepared a budget providing the capital improvements project development for the City in FY 2014/2015; and

 

WHEREAS, the City Council has revised the budget and has directed certain modifications be made; and

 

WHEREAS, the appropriation for each project is based on an estimate of the cost even though the actual contract bid will vary; therefore

 

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS;

 

SECTION 1:  THAT THE City Council of the City of Grand Prairie hereby adopt the FY 2014/2015 Capital Improvement Projects Budget as prepared and assembled by the City Manager of the City of Grand Prairie are approved as follows:

 

Airport Capital Projects Fund

            940,000

Capital Reserve Projects Fund

         1,644,367

Fire Capital Projects Fund

         8,622,300

Lake Capital Projects Fund

            254,000

Library Capital Projects Fund

            968,694

Municipal Facilities Project Fund

       15,731,355

Park Capital Projects Fund

         1,528,000

Police Capital Projects Fund

       13,460,000

Solid Waste Capital Projects Fund

            324,000

Storm Water Utility Capital Projects Fund

         4,451,512

Streets Capital Projects Fund

         5,646,108

Water Capital Projects Fund

         7,296,000

Wastewater Capital Projects Fund

         5,355,000

TOTAL CIP APPROPRIATIONS

       66,221,336

 

 

PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 16TH DAY OF SEPTEMBER, 2014.