Minutes 04/25/2000 - Laserfiche WebLink

Home Browse Search

April 25, 2000 Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None Motion by Mr. Benn, and seconded by Mr. Moody, to adopt the following ordinance, and that the FY 2000-2001 transfer to the School Board in the proposed budget be increased by $350,000 to a total of $27,724,096. Also that the City Manager be directed to identify $100,000 from the City's FY 1999-2000 funds to be designated for reappropriation to the School Board for the 2001 Budget year and that the School Board be authorized to return to the City up to $1.2 million for reappropriation for the FY 2000- 2001 School Operating Budget, contingent upon the funds being available at the end of the 1999-2000 fiscal year, and was adopted by the following vote: 00-94(I): "AN ORDINANCE TO APPROPRIATE FUNDS NECESSARY FOR OPERATION OF THE CITY GOVERNMENT FOR AND DURING THE FISCAL YEAR BEGINNING JULY 1, 2000 AND ENDING JUNE 30, 2001." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 00 - 95 - Adoption of the following resolutions and an ordinance approving the five-year Capital Improvement Plan for 2000-2005 and the issuance of General Obligation Bonds to provide the necessary funds for the various improvement projects, and an ordinance to appropriate the funds necessary for implementing the Capital Improvement Fund and the Public Utilities Capital Improvement Fund. a. Adoption of a resolution approving the 2000-2001 through 2004-2005 Capital Improvement Plan. b Adoption of a resolution authorizing the issuance of $5,640,000 in General Obligation Bonds. c Adoption of an ordinance appropriating $49,560,000 in the Capital Improvement Fund and $5,203,7000 in the Public Utilities Capital Improvement Fund. Recommendation: · Adoption of a resolution approving the 2000-2001 through 2004-2005 Capital Improvement Plan. · Adoption of a resolution authorizing the issuance of $5,640,000 in General Obligation Bonds. · Adoption of an ordinance appropriating $49,560,000 in the Capital Improvement Fund and $5,203,700 in the Public Utilities Capital Improvement Fund. Purpose and Need: · The CIP is the City's plan for major construction projects over the next five years. It is a primary means of carrying out the City Council's goals for neighborhood quality and economic development. · The City Council held a joint public hearing with the Planning Commission on March 8, 2000 on the proposed CIP. The Planning Commission has endorsed the proposal. · The Planning Commission recommends adoption of the proposed CIP, including the modifications proposed by the City Manager. Financial Impact: · All the funds expected to be expended by the City as a result of adopting the proposed CIP are recommended to be appropriated at the time of adoption. · Debt service on the new bonds must be included in future operating budgets until the debt is fully retired.