COUNCIL COMMUNICATION

DATE: 06/03/2002		SUBJECT: FINAL READING OF ORDINANCE NO. 2002-O-115 Amending the City of Laredo’s FY 2001-02 annual budget in the Fire Training Facility Fund by appropriating revenues and expenses of $37,500. from available interest earnings for the purchase and installation of fiber optic cable at the Laredo Fire/Public Safety International Training Facility, 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 Laredo Fire/Public Safety International 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 Laredo Fire/Public Safety International Training Facility and the installation of a fire fighting training tower. Available year to date interest earnings total $1,520,089 in the Fire Training Facility Fund.
	FINANCIAL:
	Fire Training Facility Fund:			Amended Budget		Proposed Budget	Amendment
	Revenues
	437-0000-363.10-00		Interest Earnings	1,482,589.		1,520,089.	37,500.
	Expenditures
	437-2490-534.99-00		Reserve Appropriation	0.		37,500.	37,500.
RECOMMENDATION: Staff recommends that City Council approve this ordinance.

ORDINANCE NO. 2002-O-115

Amending the City of Laredo’s FY 2001-02 annual budget in the Fire Training Facility Fund by appropriating revenues and expenses of $37,500. from available interest earnings for the purchase AND INSTALLATION of fiber optic cable at the Laredo Fire/Public Safety International Training Facility, 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 Laredo Fire/Public Safety International 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 Laredo Fire/Public Safety International Training Facility and the installation of a fire fighting training tower; and,

WHEREAS, available year to date interest earnings total $1,520,089 in the Fire Training Facility Fund; and,

WHEREAS, the City Council held a public hearing and introduction of this ordinance on May 20, 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 $37,500. 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	1,482,589.	1,520,089.	37,500.
Expenditures
437-2490-534.99-00	Reserve Appropriation	0.	37,500.	37,500.

PASSED BY THE COUNCIL AND APPROVED BY THE MAYOR ON THIS THE 3rd DAY OF, JUNE 2002.

_______________________

ELIZABETH G. FLORES

MAYOR

ATTEST:

_______________________

GUSTAVO GUEVARA, JR.

CITY SECRETARY

APPROVED AS TO FORM:

_______________________

JAIME L. FLORES

CITY ATTORNEY