Loading...
HomeMy WebLinkAboutRES 091112-H - GTEC Budget RESRESOLUTION Nt. 011 Lr A RESOLUTION OF THE CITy COUNCIL F THE CITY OF GEORGETOWN, TEXAS, ACCEPTING THE 2012/13 PROPOSED PROJECT FIST OF THE GEORGETOWN TRANSEORTATISN ENHAANCH ENT CORPORATION (GTEC), AND APPROVING THE 201 2/1 3 GTEC BUDGET, WHEREAS, the City is required by State „aw, the tmended E rtic€es of Incorporation, and €ws of the Georgetown Transportation Enhancement Corporation (GTEC), previously established suant to Vernon's Rev. Civ. Stoat. Ann. Article 5190.0 Section 4(B) to approve GTEC's annual eperating budget: and WHEREAS, projects identified in the 2012/13 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 15, 2012, ,1NOW, THEREFORE, `BE I`' RESOLVED elf THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, HA i 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 2012/13 Georgetown Transportatior Enhancement Corporation (GTEC) budget as approved by the GTEC Board on July 18, 2012. 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 11th day of September, 2012 AST- ST: THE C Y OF GE ETOWN: J/essir'a Brettle ' ' By: George Ga T€ty " ecretary Mayor /MOVED AS TO Bridget Chap an Acting City Attorney Resolution No. ©M 1 fa -hi Description: 2012/13 G FEC Budget Resolution Date Approved: September 11, 2012 er Page ' o Ge rgetown `Frnnsptrtflon tggo ancern n Corp ion 2012/13 Proposed Budget d Bazar $7,710,269 Revenue: Sales Tax Revenue $4,050,000 Interest $20,000 Pi0 Assessment $530,000 Total Revenue __.._ $4,600,C00 Expense: Interlocal Agreement (Indhrect Costs) Direct Costs Allocation Administrative Expense & Supplies Subtotal - Operating Expense Debt Service Transportation Improvement Program QQ FM971/Northwest (Washam over 'H35) EE FM 1460 Widening (Quail Valley to CR 114) - (rolled from 11/12) TCS/Gtown Railroad easement Subtotal - Transportation Improvement Program Economic Development Projects Rivery Road - (rolled from 11/12) Projects to be determined Subtotal - Transportation Improvement Program Total Expense Available Fund Balance $72,000 129,792 $67,100 $268,892 $2,814,946 $100,000 $1,500,000 $1,500,000 3,100, 000 $750,000 $1,012,500 $1,762,500 $7,946,338 $4,363,931 Reserves: Contingency $1,145,000 Available Working Capital $3,218,931