HomeMy WebLinkAboutRES 091002-O-5 - Budget GTECA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, APPROVING THE 2002/03 PROJECT LIST AS
THE ADOPTED 2002103 BUDGET FOR THE GEORGETOWN
TRANSPORTATION ENHANCEMENT CORPORATION;
WHEREAS, the City is required by State Law to approve the proposed project list for the
Georgetown Transportation Enhancement Corporation (GTEC), previously established pursuant to
Vernon's Rev. Civ. Stat. Ann., Article 5190.6 Section 4(B); and
WHEREAS, the GTEC published notice of the projects to be funded by GTEC. in the
Williamson County Sun, on August 11, 2002 and August 25, 2002; and
WHEREAS, a public hearing on the projects proposed by GTEC, and as shown in the above -
referenced publication, was held on August 26, 2002.
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
ordinance implements the following policy of the Century Plan - Policy Plan Element:
1. Finance Policy End 14.0, which states: "All municipal operations are
conducted in an efficient business -like manner and sufficient financial resources for
both current and future needs are provided ",
and further finds that the adoption of this resolution is not inconsistent or in conflict with any other
Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
SECTION 2. The City Council of the City of Georgetown hereby approves the proposed
project list for the Georgetown Transportation Enhancement Corporation (GTEC) to be included and
adopted as the 2002/03 budget as required by State Law.
SECTION 3. Budgetary expenses, such as administrative and non- project specific expenses
may be expended on or after the date of this resolution. Project specific funds may not be expended
until the 61St day following the date after publication of the hearing notice, as shown above.
RESOLVED this 10th day of September, 2002.
GTEC Budget Resolution No. `
P:I AGENDA\2002\BUDGET \GTECRESOLUTION.DOC
Page 1 of 2
ATTEST:
Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
Patricia Carls, Brown and Carls LLP
City Attorney
GTEC Budget Resolution No. 0471002-0-5
P:\AGENDA\2002\BUDGET\GTECRESOLUTION.DOC
Page 2 of 2
THE CITY OF GEORGETOWN:
By: Gary Nelon
Mayor
`• i:` • • i• r • r •• • •
2002/03 Budget - w/ Final Adjustments
CADocuments and SettingslmickiAMy DOCUments\GTEC - 4B12003Budget _revisedB.xlsj2yearfund
01/02 01/02 02/03 03104
Budget Projected Budget Estimated
Beginning Fund Balance
REVENUES:
Sales Tax Revenues
Developer Contributions
Debt Proceeds
Reimbursement Resolution
Interest
Total Revenues
EXPENDITURES:
Debt Service
Issuance Costs
Administrative Expense
Supplies
Legal Expense
Transportation Model Update
Inspection Services
Transportation Projects
Total Expenditures
Available Fund Balance
0 0
(a) 1,820,000 1,675,000
(b) 2,450,000
(c) 4,300,000
3,000,000
20,000 14,000
8,590,000 4,689,000
(d)
545,000
(e) 26,400 26,400
15,000
15,000
70,000
70,000
50,000
50,000
(f) 7,595,000
3,745,000
8,301,400 3,906,400
782,600
782;600
854,700
1,857,500
2,235,363
1,700,000
3,110,000
(3,000,000)
75,000
75,000
3,742,500
2,310,363
118,000
254,725
110,000
26,400
40,000
6,000
6,000
10,000
10,000'
70,000
70,000
50,000
50,000
(a) Assumes 1.5% annual increase beginning 03/04 with additional $350K for Rivery
(b) Contribution from developers - Subject to additional developer contribution
Rivery Bridge $1.1 M - Quorum
3rd Lane Frontage - Quorum $600K or actual cost
(c) Assumes Debt Issues:
02/03 - Rivery Bridge; Williams Drive Turnaround;
(d) Assumes issuing COG CO's backed with GTEC Sales Tax pledge +B23 +B23
(e) Includes management fee to COG of $2,200 per mo for administrative costs and audit requirements
which will be revised in 03/04 to reflect current costs.
(f) Detail line item project list attached
r 04-
N
C)
i
1-
10
N
11
N
co
CD
Zy
C)
c to
46F
tt)
o,ofl a C) C)
C):, 5 (3�, C) a
ul M,
'(3:
LO C.:) 16,
C)
r� 101
o
o"o
ca
Q.
0 04
C) CD
C)
C) C Ct
Q
.6
a LO
C3 �t
Clt
.2
Ln
0 CD CD CD CD 0 C)
0 CD 0 C)
C�
E
0-
Z Cq
U) a
0 0 0
pp
C5 Ld g g
(D
0)
0
10 �--:
g
LO CN 04
v
C
:3
cc
m
r) Q 0
a
LLJ
o
r
0
ca
0
CL
CL
Ckg
13
Ca
C.;
o
:3 U) ")
C-
Co '40
4D
0)
9Z CIO- iz
0
co
o
(�D C al
c4
.'�(D)
2
�10 72
N
0
62 Od Q4
i;) ag Z�l i32 n
L--]
a]
I,,
o.
CL
E
C
CD
0
E
(D
N 2
5
<
C:
(D
E
m2
2
r)
p
(D
o
(D -0-0
a)
D
Lj-
p O (D
ago