HomeMy WebLinkAbout2183 12-12-2017 ORDINANCE NO. 2183
AN ORDINANCE AMENDING THE BUDGET FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018;
PROVIDING FOR THE INVESTMENT OF FUNDS; PROVIDING A
SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the FY2017-2018 Operating and Capital Budget for the City of Euless
included excess reserves in the Half Cent Sales Tax Fund (EDC Operating Fund) and the
Half Cent Capital Projects Fund (EDC CIP); and
WHEREAS, on December 12, 2017, the Board of Directors of the Euless
Development Corporation held a public hearing on the amendment and modification of
an existing Euless Development Corporation Project at which time all citizens and
interested persons were given an opportunity to be heard regarding the Project; and
WHEREAS, at the conclusion of the public hearing, the Board of Directors
determined that such Project should be approved and funds be made available from
excess reserves; and
WHEREAS, the City Council deems it in the public interest to amend the FY2017-
2018 budget for unforeseen expenditures to fund the Project of the Euless Development
Corporation;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS THAT:
SECTION 1.
The Operating and Capital Budget for the City of Euless for the fiscal year
beginning October 1, 2017 and ending September 30, 2018, be amended as follows:
FY 2017-2018 FY 2017-2018
Original Budget Revised Budget
Half Cent Sales Tax Fund $6,614,089 $6,714,089
(EDC Operating Fund)
Half Cent Capital Projects Fund (EDC CIP) $5,627,370 $6,152,370
SECTION 2.
The City Manager is authorized from time to time, as he/she may deem to be in
the best interest of the City of Euless, to invest city funds not immediately required for
current use, including operating funds and bond funds, as per the City Council adopted
Investment Policy.
SECTION 3.
SEVERABILITY CLAUSE. It is hereby declared to be the intention of the City
Council that the phrases, clauses, sentences, paragraphs, and sections of this ordinance
are severable, and if any phrase, clause, sentence, paragraph, or section of this
ordinance shall be declared unconstitutional by the valid judgment or decree of any court
of competent jurisdiction, such unconstitutionality shall not affect any of the remaining
phrases, clauses, sentences, paragraphs, and sections of this ordinance, since the same
would have been enacted by the City Council without the incorporation in this ordinance
of any such unconstitutional phrase, clause, sentence, paragraph or section.
SECTION 4.
EFFECTIVE DATE. This ordinance shall become effective immediately from and
after its passage.
PRESENTED AND APPROVED ON FIRST AND FINAL READING at a regular
meeting of the Euless City Council on December 12, 2017, by a vote of 7 ayes, 0
nays, and o abstentions.
APPROVED:
inda a in, ay•r
ATTEST:
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Kim 'Sutter, TRMC City Secretary
APPROVED AS TO FORM:
be/La`---
Wayne K. Olson City Attorney