October 15, 2012 - City of Laredo

udget; and
ORDINANCE 20 12-0-XXX
AMENDING THE CITY OF LAREDO FISCAL YEAR 201 3 CAPITAL IMPROVEMENTS FUND
BUDGET TO APPROPRIATE REVENUES AND EXPENDITURES IN THE AMOUNT OF
$2,846,994.00. REVENUES ARE DERIVED FROM A SETTLEMENT RECEIVED FROM
HANOVER INSURANCE COMPANY. EXPENDITURES WILL BE APPROPRIATED AS FOLLOWS:
$1,436,994.00 FOR THE NORWEST COMMUNITY CENTER PROJECT AND $1,4 10,000.00
FOR THE SOUTH LAREDO PROJECT.
WHEREAS, on September 17,2012 City Council adopted the fiscal year 20 13 annual
WHEREAS, on July 2,2012, City Council approved the settlement with Hanover
Insurance Company as Surety for Modern Construction for the Norwest Community Center and south
Laredo Library projects; and
WHEREAS, on October 15, 2012, City Council conducted a public hearing and
introduced this ordinance; and
project.
WHEREAS, in order to provide partial funding necessary for the baseball stadium
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:
Capital Improvement Fund
REVENUES:
Reimbursement NW Community
Center
Reimbursement South Laredo
Library
EXPENDITURES:
Northwest Community Center
South Laredo Library
Original
Budget
Proposed
Amendment
Amended
Budget
FY 2013