SUBJECT
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Public Hearing and Introductory Ordinance amending section 1 of Ordinance 2017-O-110 of the City of Laredo and authorizing an increase of toll rates through a phased implementation schedule beginning FY2026 and continuing through January 2031; establishing revised toll rates for commercial vehicles, non-commercial vehicles, and pedestrian crossings; authorizing an initial adjustment upon adoption of the ordinance followed by annual phased adjustments each January thereafter; providing for operational, maintenance, debt service, technology modernization, and bridge infrastructure needs, including improvements to the World Trade Bridge and Colombia Solidarity Bridge, and authorizing the city manager to implement administrative procedures necessary for the implementation. Toll increases are described in Exhibit "A" and hereby repeal all conflicting sections in all ordinances currently in effect.
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PREVIOUS COUNCIL ACTION
On September 05, 2017, the City Council approved Ordinance 2017-O-110, authorizing an increase of $0.25 per person to southbound pedestrian traffic and an increase of $0.50 per axle for southbound commercial traffic.
BACKGROUND
The current toll rate of $1.00 per person for southbound pedestrian traffic and $4.75 per axle for southbound commercial traffic was approved by City Council on September 5, 2017, and there has been no increase since; in addition, non-commercial rates are at $1.75 per axle and have not increased since October 18, 2013.
The revenue distribution of funds will remain as follows: 50% to cover Bridge operational expenses and Debt Service, and 15% to meet the fund balance requirement; any surplus will be transferred to the Capital Improvement Fund, and 50% of tolls will be transferred to the General Fund.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
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Staff recommends increasing toll rates through a phased implementation schedule beginning in FY2026 upon the ...
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