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HomeMy WebLinkAboutAgenda CC 02.23.1995Council Meeting Date: Febru; _ 23, 1993 Item . q ze f C) AGENDA ITEM COVER SHEET SUBJECT An Ordinance amending the 1992/93 Annual Operating Plan Element (budget) to increase the Special Revenue Fund - Sierra Microwave Grant by $19,271 for lease and easement receipts to be passed through to Texas Department of Commerce (TDOC) and Sierra Microwave Technology, Inc. (Sierra). First Reading. ITEM SUMMARY The City built a manufacturing facility for Sierra. Purchase and construction of the plant, all owned by the City, was funded through a state grant from TDOC and donations of land and cash from Sierra. The grant agreement stipulated that Sierra repay the grant over a period of 20 years. The repayments are made to the City in the form of monthly lease payments. The City then remits the payments to TDOC. The City also received funds from Seminole Pipeline for easements granted through the property occupied by Sierra. The City agreed to remit these amounts to Sierra. The funds for these items for 1992/93 are as follows: Grant payments $131437 Easement 5,834 Total 19 271 At the time the fiscal 1992/93 budget was adopted this project was not completed and the receipts and remittances were not anticipated. SPECIAL CONSIDERATIONS The City Charter requires that a majority plus one must approve an amendment to the approved budget. FINANCIAL IMPACT This budget amendment will be incorporated with the previously approved budget. COMMENTS None. ATTACHMENTS Proposed Ordinance. Submitted By: �— rO Susan L. Morgan, Director of Finance and Administration ORDINANCE NO. AN ORDINANCE AMENDING THE 1992/93 ANNUAL OPERATING PLAN ELEMENT (BUDGET) TO INCREASE THE SPECIAL REVENUE FUND - SIERRA MICROWAVE GRANT BY $19,271 FOR LEASE AND EASEMENT RECEIPTS TO BE PASSED THROUGH TO TEXAS DEPARTMENT OF COMMERCE (TDOC) AND SIERRA MICROWAVE TECHNOLOGY, INC. (SIERRA);APPROPRIATING THE VARIOUS AMOUNTS THEREOF; AND REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT THEREWITH. WHEREAS, we entered into an agreement with Sierra Microwave Technology, Inc. and the Department of Commerce to collect and remit grant repayments. WHEREAS, we received funds from granting an easement through property occupied by Sierra Microwave Technology, Inc. and agreed to pass the funds to Sierra. WHEREAS, the receipts were unknown and unforeseeable at the time the Fiscal Year 1992/93 Budget was approved; and WHEREAS, the City Charter allows for changes in the Budgeting by a Council of a majority plus one in emergency situations; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, THAT: SECTION 1. The facts and recitations contained in the preamble of this ordinance 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 many policies of the Century Plan- Policy Plan Element and most particularly implements Economic Development Policy 1, which states "The City will encourage diversified growth and promote business opportunities to create jobs, broaden the tax base and minimize the impact of economic fluctuations", and further finds that the enactment of this ordinance 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 amendment to the 1992/93 Budget of the revenues of the City of Georgetown and expenses of conducting the affairs thereof, is in all things adopted and approved as an addition to the previously approved budget of the current revenues and expenses as well as fixed charges Budget Amendment No. Page 1 of 3 against said City for the fiscal year beginning October 1, 1992, and ending September 30, 1993. A copy of the amendment is attached hereto as Exhibit A, and incorporated by reference herein. SECTION 3. The total of $19,271 of receipts for the Special Revenue Fund Sierra Microwave Grant is hereby appropriated for payments of expenditures and payments of the fund. SECTION 4. All ordinances and resolutions, or parts of ordinances and resolutions, in conflict with this Ordinance are hereby repealed, and are no longer of any force and effect. SECTION S. If any provision of this ordinance or application thereof to any person or circumstance, shall be held invalid, such invalidity shall not affect the other provisions, or application thereof, of this ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this ordinance are hereby declared to be severable. SECTION 6. The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest. This ordinance shall become effective immediately PASSED AND APPROVED on First Reading on the 23rd day of February, 1993. PASSED AND APPROVED on Second Reading on the 9th day of March, 1993. ATTEST: Elizabeth Gray City Secretary APPROVED AS TO FORM: Marianne Landers Banks City Attorney Budget Amendment No. Page 2 of 3 THE CITY OF GEORGETOWN: By: Leo Wood Mayor EXHIBIT A Annual Operating Plan Element (Budget) Amendment Sierra Microwave Grant Special Revenue Fund: Revenue Cash Receipts $19,271 Expenditures Pass through to TDOC and Sierra Microwave-19,271 Excess revenue over expenditures 0 ATTORNEY'S REVIEW CERTIFICATION I, the undersigned, Marianne Landers Banks, the duly authorized and acting legal representative of the City of Georgetown do hereby certify as follows: I have examined the attached contract and surety bonds and am of the opinion that each of the aforesaid agreements may be duly executed by the proper parties thereto acting through their duly authorized representatives; that said representatives have full power and authority to execute said agreements on behalf of the respective parties name thereon; and that the foregoing agreements shall constitute valid and legally binding obligations upon the parties executing the same in accordance with terms, conditions and provisions thereof. Dater