Ordinance No. 13,561ORDINANCE NO. 13,561
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, REPROGRAMING FUND BALANCE TO REFUND ONE MILLION FIVE
HUNDRED EIGHTY-NINE THOUSAND NINE HUNDRED EIGHTY-NINE AND
NO/100 DOLLARS ($1,589,989.00) IN THE DEBT SERVICE FUND TO THE
HOTEL/MOTEL OCCUPANCY TAX FUND FOR PRINCIPAL AND INTEREST
CHARGES THAT WERE TAKEN FROM THE HOTEL/MOTEL OCCUPANCY
TAX FUND DURING FISCAL YEARS 2000 TO 2004 IN CONNECTION WITH
BOND SERIES 1998; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1: That the City Council of the City of Baytown hereby reprograms fund balance to
reprogram ONE MILLION FIVE HUNDRED EIGHTY-NINE THOUSAND NINE HUNDRED EIGHTY-
NINE AND N0/100 DOLLARS ($1,589,989.00) in the Debt Service Fund to the Hotel/Motel Occupancy Tax
Fund to refund principal and interest charges that were taken from the Hotel/Motel Occupancy Tax Fund during
Fiscal Years 2000 to 2004 in connection with Bond Series 1998, as more particularly described in Exhibit "A,"
which is attached hereto and incorporated herein for all intents and purposes.
Section 2: This ordinance shall take effect immediately from
Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative vote
Baytown this the 24"' day of August, 2017. y
S PHEN-
ATT T:
L ICIA BRYSCH, Cit k
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APPROVED AS TO FORM:
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qCiNACIO RAMIREZ, SR., Ci� ttomey
its passage by the City
City Council of the City of
lcobfs0l\legal\Karen\Files,.City Counci1\0rdimnces\2017\August 24\BudgetChange22016-17FiscalYearBudget4EquityTransfer.doc
"EXHIBIT A"
FUND BALANCE TRANSFER
FISCAL YEAR 10/1/16 thru 9/30/17 DATE: 8/24/2017 Period 11
FUND 401-GOIS/232-HOT Funds
DIVISION Include in End of Year Budget Amendments
CONTROL NUMBER Transfers Out - Journal Entry n
TRANSFER FROM:
DIVISION
ACCOUNT
AVAILABLE
NUMBER
NUMBER
NAME
401 30003
TRANSFER TO:
ACCOUNT
CURRENT
AVAILABLE
TRANSFER
ADJUSTED
NAME
AMOUNT
BALANCE
AMOUNT
AMOUNT
Fund Balance 1,589,989.00
-
(1,589,989.00)
-
232 30003 Fund Balance - - 1,589,989.00 1,589,989.00
EXPLANATION:
NOTE: ALL Budget Transfers must provide the following explanations.
1. Explain why there will be savings in the account transferring "From."
2. Explain the reason for the transfer.
'Reprogramming of fund balance to refund $1,589,989 from the Debt Service Fund back to the Hotel/Motel Occupancy Tax Fund. This
=amount represents the five principal and interest charges that were taken from the HOT fund during Fiscal Years 2000 through 2004 in
connection with Bond Series 1998. However, because the funds were designated for the construction of a convention center on Bayland
Island were re -purposed after the issuance of the bonds due to the non-performance of the developer, these funds need to be refunded
';back the HOT Fund. This change will not alter the bottom line of the FY2016-17 budget
Requested y: DatT Director of Finance Date
Audited By: Date City Manager/Deputy City Manager Asst. City Manager Date
(If applicable)
Entered y: Date