Ord 2022-043/amending certain funds in the City’s 2021-2022 Fiscal Year budget to authorize the use of fund balance for financing capital improvement projects and TIRZ

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ORDINANCE NO. 2022-43 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS AMENDING CERTAIN FUNDS IN THE CITY'S 2021-2022 FISCAL YEAR BUDGET TO AUTHORIZE THE USE OF FUND BALANCE FOR FINANCING CAPITAL IMPROVEMENT PROJECTS AND THE TAX INCREMENT REINVESTMENT ZONE NO. 4 FINANCING AND PROJECT PLAN; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EFFECTIVE DATE. RECITALS: In accordance with Section 8.16 of the City Charter, the City Council declares that a public necessity exists that requires an amendment to the City's 2021 - 2022 Fiscal Year Budget. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. The City Budget Ordinance for the 2021-2022 Fiscal Year is amended as set forth in the attached Exhibit A, and as summarized by Fund in the following table: Fund Current Amended Requested Revised 2021-2022 2021-2022 Budget Amendments Budget General Fund $ 92,878,771 $ 3,540,000 $ 96,418,771 TIRZ#4 $ 0 $ 1,086,738 $ 1,086,738 Electric Utility $ 63,654,750 $ 1,620,500 $ 65,275,250 Water/Wastewater Utility $ 52,683,382 $ 4,310,000 $ 56,993,382 SECTION 2. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to be unconstitutional or invalid by a court of competent jurisdiction,the other provisions of this ordinance will continue in force if they can be given effect without the invalid portion. SECTION 3. All ordinances and resolutions or parts of ordinances or resolutions in conflict with this ordinance are repealed. SECTION 4. This ordinance will take effect immediately after its passage, approval and adoption on second reading.