File #: 12-1988    Version: 1 Name: Second Public Hearing FY 2012/2013 Budget for Capital Improvement Projects Budget and Ordinance
Type: Ordinance Status: Adopted
File created: 8/20/2012 In control: Budget
On agenda: 9/18/2012 Final action: 9/18/2012
Title: Second Public Hearing on the FY 2012/2013 Capital Improvement Projects Budget and an Ordinance Adopting the FY 2012/2013 Capital Improvements Projects Budget
From
Kathleen C. Mercer
 
Title
Second Public Hearing on the FY 2012/2013 Capital Improvement Projects Budget and an Ordinance Adopting the FY 2012/2013 Capital Improvements Projects Budget
 
Presenter
Kathleen C. Mercer, Director of Budget
 
Recommended Action
Conduct Second Public Hearing and Approve
 
Analysis
On August 24, 2012 the City Council met to deliberate the proposed Capital Improvement Projects Budget.
 
Financial Consideration
The proposed capital improvements project budget totals $35,911,030 and will be funded with general obligation bonds, certificates of obligation, and existing resources.  The projects and funding sources are categorized as follows:
 
Appropriations :
       35,911,030
Airport Capital Projects Fund
            649,550
Capital Reserve Projects Fund
            728,673
Fire Capital Projects Fund
         1,802,399
Golf Capital Projects Fund
              75,000
Lake Capital Projects Fund
            530,000
Library Capital Projects Fund
            483,368
Municipal Facilities Project Fund
         2,353,369
Park Capital Projects Fund
         4,980,000
Police Capital Projects Fund
         2,305,856
Solid Waste Capital Projects Fund
         1,200,000
Storm Water Utility Capital Projects Fund
         3,848,535
Streets Capital Projects Fund
         4,070,820
Water Capital Projects Fund
       10,013,460
Wastewater Capital Projects Fund
         2,870,000
 
 
Funding sources:
 
Cash/Other resources
       25,465,178
Certificates of Obligation
         6,660,450
General Obligation Bonds
         3,613,790
Revenue Bonds
                     -   
TIF Revenue
                     -   
Cost of Issuance
            171,612
 
 
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE FY 2012/2013 CAPITAL IMPROVEMENT PROJECTS BUDGET SUBMITTED BY THE CITY MANAGER OF THE CITY OF GRAND PRAIRIE, TEXAS, IN THE AMOUNT OF $35,911,030 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 2012/2013; 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 2012/2013 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
            649,550
Capital Reserve Projects Fund
            728,673
Fire Capital Projects Fund
         1,802,399
Golf Capital Projects Fund
              75,000
Lake Capital Projects Fund
            530,000
Library Capital Projects Fund
            483,368
Municipal Facilities Project Fund
         2,353,369
Park Capital Projects Fund
         4,980,000
Police Capital Projects Fund
         2,305,856
Solid Waste Capital Projects Fund
         1,200,000
Storm Water Utility Capital Projects Fund
         3,848,535
Streets Capital Projects Fund
         4,070,820
Water Capital Projects Fund
       10,013,460
Wastewater Capital Projects Fund
         2,870,000
TOTAL CIP APPROPRIATIONS
       35,911,030
 
 
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 18TH DAY OF SEPTEMBER, 2012.