HomeMy WebLinkAboutRES 082509-S - Approve GTEC BudgetRESOLUTION NO. d5ocia
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
ACCEPTING THE 2009/10 PROPOSED PROJECT LIST OF THE GEORGETOWN
TRANSPORTATION ENHANCHMENT CORPORATION (GTEC), AND APPROVING
THE 2009/10 GTEC BUDGET,
WHEREAS, the City is required by State Law, the Amended Articles of Incorporation, and the
Bylaws of the Georgetown Transportation Enhancement Corporation (GTEC), previously established
pursuant to. Vernon's Rev. Civ Stat. Ann. Article 5190.6 Section 4(B) to approve GTEC's annual
operating budget and
WHEREAS, projects identified in the 2009/10 Project List are incorporated into the annual budget
of GTEC, and
WHEREAS, a public hearings on the projects proposed by GTEC was held on August 19, 2009,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT
SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby found and
declared to be true and correct, and are incorporated by reference herein and expressly made a part
hereof, as if copied verbatim. The City Council hereby finds that this resolution complies with the Vision
Statement of the City of Georgetown 2030 Comprehensive Plan.
SECTION 2. The City Council of the City of Georgetown hereby accepts the proposed project
list included in the 2009/10 Georgetown Transportation Enhancement Corporation (GTEC) budget as
approved by the GTEC Board on July 15, 2009.
SECTION 3. Budgetary expenses, such as administrative and non -project specific expenses
may be expended on or after the date of this resolution.
RESOLVED this 25th day of August, 2009.
ATTEST:
Jessica Hamilton
City Secretary
APP iVED AS T O FORM:
h `C
Patricia Carls, City Attorney
THE CITY OF GEORGETOWN:
By' Geo
Mayor
Georgetown Transportation Enhancement Corporation
2009/2010 Proposed Budget
Beginning Fund Balance
Revenue:
Sales Tax Revenue
Interest
PID Assessments
Debt Proceeds
Total Revenue
Expense:
Administrative Expense & Supplies
Legal Expense
Transportation Plan Updates
Subtotal - Operating Expense
Debt Service
Issuance Cost & Reserve Funding
Transporation Improvement Program
12 Southeast Arterial 1 [a]
14a Wolf Ranch Parkway (tie to bypass)
14b SH 29 Bypass
EE FM 1460 Widening
QQ FM 971/Northwest Blvd Bridge
QQ1 FM 971 (Terminus)
Subtotal - Transportation Improvement Program
Economic Development Projects
DT3 500 South Austin Avenue[a]
ttitt
Subtotal - Transportation Improvement Program
Total Expense
Available Fund Balance
$16,051,955
$3,373,765
$200,000
$612,680
$2,500,000
$6,686,445
$210,084
$41,200
$20,600
$271,884
$2,433,921
$62,500
$10,200,739
$1,000,000
$4,000,000
$200,000
$350,000
$150,000
$15,900,739
$153,759
$843,441
$997,200
$19,666,244
$3,072,156
Reserves:
Contingency
Available Working Capital
$996,611
$2,075,545
Note:
[a]. Projects rolled forward from prior fiscal years.