Title
Consider a resolution approving the funding of certain capital projects from the General Self-Financed Construction Fund.
Body
The General Self Financed Construction fund was created in 1999 and has funded over $70M in projects. The City's financial strategy of cash funding for projects which the City would normally issue debt has saved the taxpayers of Round Rock at least 12 cents on the property tax rate by avoiding the issuance of debt. This strategy has reduced the need to borrow funds while allowing the City to continue to keep up with the growing demand.
This General Self-Financed Construction spending plan revision will allocate approximately $7.2M in funding for the following: continued funding of the capital programs for parks maintenance, Information technology, construction and repairs of existing city facilities and additional costs related to the sports complex. Included in the packet is a listing of the various projects and associated amounts.
Recommended Action
Staff recommends approval.