Ord 063-2001 6/19/2001ORDINANCE NO. (0 3 0201
ORDINANCE AUTHORIZING THE TRANSFER OF ESCROW FUNDS
RELEASED FROM THE HOLLIDAY AND MCGRATH CREEK FLOOD
CONTROL PROJECTS TO A CAPITAL PROJECT FUND FOR
GENERAL DRAINAGE IMPROVEMENTS IN THE AMOUNT OF
$2,648,430 AND TO A CAPITAL PROJECT FUND FOR GENERAL
STREET IMPROVEMENTS IN THE AMOUNT OF $93,121; FINDING
AND DETERMINING THAT THE MEETING AT WHICH THIS
ORDINANCE WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the City has received notice from the Bank of New York that
$2,741,551 in escrow funds for the Holliday and McGrath Creek Flood Control Projects
have been released to the City; and
WHEREAS, the City Council desire to use these funds for street and drainage
improvement projects; and
WHEREAS, it is necessary to establish new capital project funds to account for
these improvements.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City Manager is hereby authorized to transfer $2,648,430 of
the released escrow funds from the Holliday and McGrath Creek Flood Control Projects
to a Capital Project Fund for drainage improvement projects.
SECTION 2. The City Manager is further authorized to transfer $93,121 of the
released escrow funds from the Holliday and McGrath Creek Flood Control Projects to
a Capital Project Fund for street improvement projects.
SECTION 2. It is hereby officially found and determined that the meeting at
which this ordinance was passed was open to the public as required by law.
PASSED AND APPROVED this the 19th day of June 2001.
MAYOR
ATTEST: