HomeMy WebLinkAboutORD 2017-079 ORDINANCE NO. 2017-079
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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE,TEXAS;APPROPRIATING$12,000,000 IN THE
CVB FUND AND TRANSFERING FUNDS TO THE 177
CAPITAL PROJECTS GENERAL FACILITY FUND;
APPROPRIATING $10,000,000 IN THE ECONOMIC
DEVELOMENT CAPITAL FUND AND TRANSFERING FUNDS
TO THE 177 CAPITAL PROJECTS GENERAL FACILITY
FUND; APPROPRAITING$77,045,000 IN THE 177 CAPITAL
PROJECTS GENERAL FACILITY FUND FOR THE
GRAPEVINE MAIN STATION DESIGN AND
CONSTRUCTION; DECLARING AN EMERGENCY AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Grapevine desires to design and
construct the Grapevine Main Station; and
WHEREAS, funding of$12,000,000 is available in the CVB Fund undesignated fund
balance; and
LWHEREAS, funding of $10,000,000 is available in the Economic Development
Capital Fund undesignated fund balance; and
WHEREAS, funding of$7,000,000 was appropriated in the FY17 Adopted Budget
for the purpose of funding the Grapevine Main Station; and
WHEREAS, TEXRaiI has committed to contributing $20,000,000 to the project; and
WHEREAS, the City intends to issue $33,045,000 in obligations to provide project
financing; and
WHEREAS, constitutional and statutory prerequisites for the approval of this
ordinance have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. That the City Council hereby appropriates $12,000,000 in the CVB
Fund and transfers the amount from the CVB Fund to the Capital Projects General Facility
Fund.
Section 3. That the City Council hereby appropriates $10,000,000 in the
Economic Development Capital Fund and transfers the amount from the Economic
Development Capital Fund to the Capital Projects General Facility Fund.
Section 4. That the City Council hereby appropriates $77,045,000 in the 177
Capital Projects General Facility Fund.
Section 5. That the terms and provisions of this ordinance shall be deemed to be
severable, and that if the validity of any section, subsection,word, sentence or phrase shall
be held to be invalid, it shall not affect the remaining part of this ordinance.
Section 6. That the fact that the present ordinances and regulations of the City of
Grapevine, Texas are inadequate to properly safeguard the health, safety, morals, peace
and general welfare of the inhabitants of the City of Grapevine, Texas, creates an
emergency for the immediate preservation of the public business, property, health, safety,
and general welfare which requires that this ordinance shall take effect immediately from
and after its passage and it is accordingly so ordained.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 21st day of November 2017.
APPROVED:
William D. Tate
,RAP Mayor
ATTEST: ; . - �tiF
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/I 4 ` is
Tara Brooks .e \ I
City Secretary * * *
APPROVED AS TO FORM:
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John F. Boyle, Jr.
City Attorney
Ordinance No. 2017-079 2