Discussion and possible action to approve, by order, the following carry over budget for the tax notes 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. [General Fund #1001 and Road & Bridge Fund #2007]
G/L Account
Account Name
Amount
1001-1130-001-470000
Capital Outlay
$1,585,921.00
2007-7150-001-470000
Capital Outlay
$322,156.57
Issue: Webb County issued tax notes series 2020 of $2.2 million for law enforcement equipment and $1.6 million for heavy machinery. Unused budget proceeds remains available for FY-2021 for open purchase orders. Tax notes funding rolls over to fund balance.
Solution: Appropriate expenditures to cover use of proceeds from tax notes series 2020.
Result: Approval of agenda Item for the continued availability of tax notes funds.
Background:
Commissioners Court 05/26/2020 order authorizing the issuance of tax notes, series 2020 for law enforcement equipment and heavy machinery.