HomeMy WebLinkAboutRES 022817-L - 2017 GTEC BudgetRESOLUTION NO. OAaSll-1—
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
ACCEPTING THE 2017 PROPOSED PROJECT LIST OF THE GEORGETOWN
TRANSPORTATION ENHANCHMENT CORPORATION (GTEC), AND APPROVING AN
AMENDEMENT TO THE 2017 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), established pursuant to
Chapter 501 of the Texas Local Government Code (previously 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 2017 Project List, which is attached hereto and incorporated
for all purposes as Exhibit "A," are incorporated into the annual budget of GTEC; and
WHEREAS, the GTEC Board approved the 2017 Project List and the fiscal year 2017 GTEC budget
as amended at its meeting on February 15, 2017.
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.
SECTION 2. The City Council of the City of Georgetown hereby approves the proposed project list
included in the 2017 Georgetown Transportation Enhancement Corporation (GTEC) budget and the
proposed budget amendment as approved by the GTEC Board on February 15, 2017.
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 28th day of February, 2017.
ATTEST:
4s"o—Q.J ,, "U" -,—
Shelley Nowling
City Secretary
APPROV TO FORM:
Cha es McNabb
City Attorney
Resolution No.2. 17—L
Description: 2017 GTEC Budget Resolution
Date Approved: February 28, 2017
THE CITY OF GEORGETOWN:
S_e Qom
By: -Gale Ross
Mayor
Page 1 of l
EXHIBIT A
2016/17 Budget Amendment
Georgetown Transportation Economic Corporation /GTEC
Revenues/Sources:
Fund Balance - prior year approved projects
Grant Revenue - TxDot
2017 Certificate of Obligation bond issue (additional to original budget)
Expenditures - project timing
SW Bypass - 2243 to IH 35
FM 971/ Fontana Or (NW Bridge)
Wolf Ranch Parkway Extension
SH 29 and IH35 Improvements
FM 1460 Widening
Airport Road
Rivery TIA Improvements
Excess revenue over expenditures
Total Budget Amendment
(2,736,981)
(450,000)
(4,150,000)
354,920
91,590
283,350
650,000
650,000
4,150,000
1,157,121
$ 0
$ 7,336,981
L:\Division\Finance\Share2\AGENDA\GIPS§ fPkfiMdget\2016 Rollforward Exhibit A-GTEC