HomeMy WebLinkAboutRES 082410-F - Proposed Project List GTECRESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
ACCEPTING THE 2010/11 PROPOSED PROJECT LIST OF THE GEORGETOWN
TRANSPORTATION ENHANCHMENT CORPORATION (GTEC), AND APPROVING
THE 2010/11 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 2010/11 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 18, 2010,
N OW, 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.
S ECTION 2. The City Council of the City of Georgetown hereby accepts the proposed project
list included in the 2010/11 Georgetown Transportation Enhancement Corporation (GTEC) budget as
approved by the GTEC Board on July 21, 2010.
S ECTION 3. Budgetary expenses, such as administrative and non -project specific expenses
may be expended on or after the date of this resolution.
RESOLVED this 24th day of August, 2010.
ATTEST:
THE CITY OF GEORGETOWN:
ca Brettle y: Georg Garver
y Secretary Mayor
APPROVED AS TO FORM:
51
46
Mark Sokolow, City Attorney
Georgetown Transportation Enhancement Corporation
2010/2011 Proposed Budget
Beginning Fund Balance $4,847,292
Revenue:
Sales Tax Revenue $3,630,000
Interest $50,000
PID Assessments $600,000
Total Revenue
Expense:
Interlocal Agreement (Indirect Costs)
Direct Costs Allocation
Administrative Expense & Supplies
S ubtotal - Operating Expense
$4,280, 000
$72,000
$126,594
$67,100
$265,694
Debt Service $2,475,446
Transportation Improvement Program
14b SH 29 Bypass (RR2243 to SH 29)
24 3 Construct NB Frontage Rd (FM 2338 to Lakeway)
S ubtotal - Transportation Improvement Program
Economic Development Projects
Projects to be determined
S ubtotal - Transportation Improvement Program
$2,000,000
$250,000
$2,250,000
$907,500
$907,500
Total Expense $5,898,640
Available Fund Balance $3,228,652
Reserves:
Contingency $1,057,500
Available Working Capital $2,171,152
LP.