ORDINANCE AND RESOLUTION FACT SHEET					City of Shreveport
TITLE			DATE			ORIGINATING DEPT./DIV.
AN ORDINANCE ADOPTING THE 2010 DOWNTOWN PARKING ENTERPRISE FUND, APPROPRIATING THE FUNDS AUTHORIZED THERIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO			Oct. 1, 2009			EXECUTIVE OFFICE
						SPONSOR OR COUNCIL MEMBER
						MAYOR CEDRIC B. GLOVER
PURPOSE
To adopt the 2010 Downtown Parking Enterprise Fund budget, in accordance with State law and City Charter.
This Ordinance or Resolution will have direct impact on Council District:							All
BACKGROUND INFORMATION
This Fund is up 1.5% in 2010 mostly due to increased operating reserve. The management agreement is renewed annually and $450,000 is appropriated for 2010 for such contract.
TIMETABLE
Introduction:	October 13, 2009
Final Passage:	By December 15, 2009
SPECIAL PROCEDURAL REQUIREMENTS
A public hearing must be held on this budget for adoption by Council.
FINANCES				SOURCE OF FUNDS
CONCLUSION
Approval of this ordinance is recommended.
FACT SHEET PREPARED BY:		Rick Seaton, Assistant CAO

ORDINANCE NO. OF 2009

AN ORDINANCE ADOPTING THE 2010 BUDGET FOR THE DOWNTOWN PARKING ENTERPRISE FUND, APPROPRIATING THE FUNDS AUTHORIZED THEREIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO

BY:

WHEREAS, the City Council has created a Downtown Parking Enterprise Fund, whose purpose is to use funds collected from parking activities to promote improved parking facilities in the downtown area.

NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of Shreveport, in legal session convened, that:

1. Estimated Receipts - The estimated Downtown Parking Enterprise Fund receipts for the year 2010 are hereby established and adopted as follows:

Estimated Fund Balance 1/1/2010 $ 445,900

External Service Charges $ 325,000

Fines and Forfeitures 290,000

Interest 8,000

TOTAL $1,068,900

2. Appropriations - The funds set forth in the following classes of expenditures are hereby appropriated out of the Downtown Parking Fund’s receipts for the year 2010:

Contractual Services $ 450,000

Operating Reserves 617,900

Transfer to General Fund 1,000

TOTAL $1,068,900

3. The Downtown Parking Enterprise Fund budget presented to the City Council by the Mayor on October 1, 2009, as amended by subsequent action by this Council, be and the same is hereby adopted.

4. Capital Transfers - All amounts authorized by the Capital Improvements Budget ordinance to be financed from Downtown Parking Fund receipts shall be transferred to the proper capital funds as provided by the Capital Improvements Budget ordinance.

5. Administration - The Mayor is hereby authorized to execute all contracts, deeds, grant documents and other legal instruments necessary to expend or receive funds herein authorized.

6. Donation of City Funds - No funds herein appropriated shall be donated, loaned or pledged, and no expenditures for such purposes shall be authorized except in accordance with Section 26-53 of the Code of Ordinances, as it exists now or may hereafter be amended.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this ordinance which can be given effect without the invalid provisions, items or applications; and to this end, the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

BE IT FURTHER ORDAINED that this ordinance will be effective on January 1, 2010.

APPROVED AS TO LEGAL FORM:

____________________________

City Attorney’s Office