SUBJECT: FINAL READING ORDINANCE 2003-O-087

Amending the City of Laredo Fiscal Year 2003 Budget, Capital Improvements Fund by appropriating $4,400,000 from Fund Balance and appropriating expenditures in the amount of $4,400,000 for the Civic Center Renovation and Expansion Project.

INITIATED BY:

Larry Dovalina

City Manager

STAFF SOURCE:

Horacio De Leon

Parks & Recreation Director

PREVIOUS COUNCIL ACTION:

Fiscal Year 2003 annual budget was adopted by City Council on September 20, 2002.

BACKGROUND:

The Civic Center Renovation and Expansion Project proposes improvements to existing facilities and expansion of support services that require the addition of new buildings at the Civic Center grounds. Renovations include, but are not limited to, the Civic Center ballroom/exhibit hall, auditorium, and meeting rooms. Expansions may include parking areas, banquet hall, additional conference rooms, outdoor pavilion, landscaping, connecting sidewalks, irrigation system, park benches, drinking fountains, park lighting, signage, restrooms and other related support amenities and improvements.

FINANCIAL:

The Capital Improvements Fund will be amended as follows:

	Annual Budget FY 2003	Proposed Amendment	Amended Budget 2003
Capital Improvements Fund Balance:

Fund Balance	$0	$4,400,000	$4,400,000


Expenditures:
Civic Center Renovation and Expansion Project Acct. # 402-4322-535-4181	$0	$4,400,000	$4,400,000

COMMITTEE RECOMMENDATION:

N/A

STAFF RECOMMENDATION:

Approval

ORDINANCE 2003-O-087

WHEREAS, on September 20, 2002, City Council adopted the fiscal year 2003 annual budget: and

WHEREAS, on March 24, 2003, City Council will hold a public hearing and introduce this ordinance; and

WHEREAS, the Civic Center is in need of renovation and expansion to provide for the needs of a growing city and to attract outside organizations to hold conventions, exhibits, meetings, conferences, and varied programming in new, attractive, and expanded facilities.

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

Section 1: The Capital Improvements Fund is hereby amended as follows:

	Annual Budget FY 2003	Proposed Amendment	Amended Budget 2003
Capital Improvements Fund Balance:

Fund Balance	$0	$4,400,000	$4,400,000


Expenditures:
Civic Center Renovation and Expansion Project Acct. # 402-4322-535-4181	$0	$4,400,000	$4,400,000

PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR ON THIS

THE _______________ DAY OF ________________________, 2003.

________________________

ELIZABETH G. FLORES,

MAYOR

ATTEST: APPROVED AS TO FORM:

_________________________ ____________

GUSTAVO GUEVARA, JR., JAIME L. FLORES

CITY SECRETARY CITY ATTORNEY

SUBJECT: FINAL READING ORDINANCE 2003-O-087

Annual Budget

Annual Budget