HomeMy WebLinkAboutORD 92-20 - Budget Capital FundORDINANCE NO. z)"
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WHEREAS, the City Council of the City of Georgetown passed and approved on
September 24, 1991, an ordinance appropriating for payments of expenditures of the individual
funds of the City for the fiscal year beginning October 1, 1991, and ending September 30, 1992;
and
WHEREAS, the City Council twice previously amended the budget for the fiscal year
beginning October 1, 1991, and ending September 30, 1992, first on second reading on April
28, 1992, and subsequently on second reading on July 14, 1992, and
WHEREAS, the City Council has approved the issuance of $1,600,000 Combination Tax
and Revenue Certificates of Obligation, Series 1992 ("Bonds") to fund acquisition of roadway
right-of-way, park land, and a municipal building, and
WHEREAS, the City's issuance of Bonds and requirements for expenditure of Bond
proceeds was not and could not have been foreseen on September 24, 1991, and therefore was
not included in the appropriations approved at that time; and
WHEREAS, the City Charter of the City of Georgetown provides that "the Council may
authorize a vote by a majority plus one on an emergency expenditure as an amendment to the
original budget only in a case of grave public necessity to meet an unusual and unforseen
condition that could not have been included in the original budget through the use of reasonable
diligent thought and attention"; and
WHEREAS, the City Council has determined that the expenditures required as a result
of the City's acceptance of Grant meet the Charter requirements to be determined as an
"emergency expenditure";
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF •• i
............Budget Amendment No. ;.:� a
Page 1 of 4
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 other Transportation, Growth and Physical
Development, and Recreation and Cultural Affairs Policies, 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 1991-92 Annual 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 against said City for the fiscal year beginning October 1, 1991, and ending September
30, 1992. A copy of the amendment is attached hereto as Exhibit A, and incorporated by
reference herein.
SECTION 3.
The total of $1,600,000 bond proceeds is hereby appropriated for payments of
expenditures and payments of a General Capital Projects 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 5.
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.
Budget Amendment No.
Page 2 of 4
SECTION 6.
The Mayor is
hereby authorized
to sign this ordinance and the
City
Secretary to attest.
This ordinance shall
become effective
immediately upon adoption,
due
to passage as an
emergency item, as provided by the City Charter.
PASSED AND APPROVED on Emergency Reading on the" "' day of ZTULY
1992.
ATTEST: THE CITY OF GEORGETOWN.
Elizabeth Gray
City Secretary
Marianne Landers Banks
City Attorney
Budget Amendment No. a�ao
Page 3 of 4
By: too Wood
Mayor
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General Capital Projects Fund - 1992 Certificate of Obligation
Revenue
Expenditures
Bond issuance and capital projects
Excess revenue over expenditures
Budget Amendment No.
Page 4 of 4
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