COUNCIL COMMUNICATION

DATE: 04/01/2002		SUBJECT: FINAL READING OF ORDINANCE NO. 2002-O-064 Amending the City of Laredo’s FY 2001-02 annual budget in the Fire Training Facility Fund by appropriating revenues and expenses of $125,611. from available interest earnings for the purchase of fire equipment, and authorizing the City Manager to implement said budget.
INITIATED BY: Larry Dovalina, City Manager					STAFF SOURCE: Veronica Urbano, Acting Budget Director Rosario Cabello, Financial Services Director
PREVIOUS COUNCIL ACTION: None.
BACKGROUND: On September 7, 1993, the Laredo City Council passed Ordinance No. 93-O-173, calling for an election on November 2, 1993, at which the voters approved six propositions, of which Proposition No. 3 authorized the construction of a Fire Fighting / Police Training Facility, and the installation of a fire fighting training tower. On March 21, 1994, the Laredo City Council passed Ordinance No. 94-O-066, authorizing the issuance of General Obligation Bonds for eleven projects, including the construction of a Fire Fighting / Police Training Facility and the installation of a fire fighting training tower. Available year to date interest earnings total $1,482,589 in the Fire Training Facility Fund.
	FINANCIAL:
	Fire Training Facility Fund:			Amended Budget		Proposed Budget	Amendment
	Revenues
	437-0000-363.10-00		Interest Earnings	1,356,978.		1,482,589.	125,611.
	Expenditures
	437-2490-535.90-01		Machinery & Equipment	0.		125,611.	125,611.
RECOMMENDATION: Staff recommends that City Council approve this ordinance.

ORDINANCE NO. 2002-O-064

Amending the City of Laredo’s FY 2001-02 annual budget in the Fire Training Facility Fund by appropriating revenues and expenses of $125,611. from available interest earnings for the purchase of fire equipment, and authorizing the City Manager to implement said budget.

WHEREAS, on September 7, 1993, the Laredo City Council passed Ordinance No. 93-O-173, calling for an election on November 2, 1993, at which the voters approved six propositions, of which Proposition No. 3 authorized the construction of a Fire Fighting / Police Training Facility, and the installation of a fire fighting training tower; and,

WHEREAS, on March 21, 1994, the Laredo City Council passed Ordinance No. 94-O-066, authorizing the issuance of General Obligation Bonds for eleven projects, including the construction of a Fire Fighting / Police Training Facility and the installation of a fire fighting training tower; and,

WHEREAS, available year to date interest earnings total $1,482,589 in the Fire Training Facility Fund; and,

WHEREAS, the City Council held a public hearing and introduction of this ordinance on March 25, 2002; and

NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LAREDO THAT:

Section 1. Budget Amendment

The City of Laredo FY 2001-2002 annual budget be amended to appropriate additional revenues and expenditures in the amount of $125,611. from interest earnings of the Fire Training Facility Fund.

FINANCIAL:
Fire Training Facility Fund:		Amended Budget	Proposed Budget	Amendment
Revenues
437-0000-363.10-00	Interest Earnings	1,356,978.	1,482,589.	125,611.
Expenditures
437-2490-535.90-01	Machinery & Equipment	0.	125,611.	125,611.

PASSED BY THE COUNCIL AND APPROVED BY THE MAYOR ON THIS THE 1st DAY OF, APRIL 2002.

_______________________

ELIZABETH G. FLORES

MAYOR

ATTEST:

_______________________

GUSTAVO GUEVARA, JR.

CITY SECRETARY

APPROVED AS TO FORM:

_______________________

JAIME L. FLORES

CITY ATTORNEY