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Meeting Date:	11/23/2020
Proceeds Certificates of Obligation, Series 2020, Projects Budget
Submitted for:	Carlos Guerra	Submitted By:	Carlos Guerra
Department:	Auditor

Subject:

Discussion and possible action to create the following capital project funds to be funded from the Certificate of Obligation Bond Series 2020, according to Texas local government code 111.0705 (Budget for Expenditures from Proceeds of Bonds or Other Obligations); and any other matters incident thereto.

Plan of Finance Project Description	Fund G/L Account	Budget
Fairgrounds Project, Series 2020	3901-7230-001-474501	$45,000,000
Juv & Adult Rehab & Detox Facility, Series 2020	3902-7230-001-474501	$1,500,000
Elections Equipment, Series 2020	3903-1110-001-470000	$1,500,000
Villa Antigua Border Heritage Museum, Series 2020	3904-7230-001-474501	$2,000,000
Sheriff Office-Former HEB Building, Series 2020	3905-7230-001-474501-002	$0
South County Fire Station, Series 2020	3906-7230-001-474501	$0
Total Obligation Proceeds		$50,000,000
Interest Income, Series 2020	3907-1250-361100	$500

Issue: Webb County published notice of intent to issue Certificates of Obligation Series 2020.

Solution: Appropriate expenditures to cover use of obligation proceeds according to plan of finance.

Result: Create capital project funds and adopt budget using proceeds according to plan of finance.

Background:

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Previous Court Action:

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Fiscal Impact

Budget Account Number:	n/a
Funding Source:	n/a
Balance:	n/a
Financial Impact:
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Attachments
CO Series 2020