SUBJECT
title
Public Hearing and Introductory Ordinance of the City of Laredo, Texas, amending the City of Laredo’s FY 2025 annual budget by appropriating revenues and expenses in the amount of $663,743.00 in the Waterworks System Fund 2019 Water Revenue Bond The interest earnings being appropriated are to pay for expenses for projects.
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VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: Moderate
Supporting goal(s)/policy(ies): Policy 6.5.2 Develop policies that promote and incentivize the development of surface water treatment, conveyance and reclamation.
Summary of alignment: This agenda item is to appropriate interest earnings in order to pay for expenses related to improving water infrastructure.
PREVIOUS COUNCIL ACTION
None
BACKGROUND
Interest earnings are being appropriated in order to pay for expenses incurred within this bond.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Conduct public hearing and introduce this ordinance.
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Fiscal Impact
Fiscal Year: FY 2025
Budgeted Y/N?: N
Source of Funds: 2019 Waterworks Water Revenue Bond
Account #: 557-9875-535-9301
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Account Number Amended Budget Proposed Budget Amended
Amendment Budget
Waterworks 2019 Revenue Bond
Revenues:
Interest Earnings
557-9875-363-2001 $449,684 $564,244 $1,013,928
Reimburse & Miscellaneous
557-9875-373-2050 $- $99,499 $99,499
Expenses:
Improvements Other Than Buildings
557-9875-535-9301 $32,366,104 $663,743 $33,029,847