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City of Shreveport
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DATE
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AN ORDINANCE ADOPTING THE 2010 CONVENTION CENTER HOTEL ENTERPRISE FUND, APPROPRIATING THE FUNDS AUTHORIZED THERIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO
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Oct. 1, 2009
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EXECUTIVE OFFICE
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MAYOR CEDRIC B. GLOVER
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To adopt the 2010 Shreveport Convention Center Hotel Fund budget, in accordance with State law and City Charter.
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This Ordinance or Resolution will have direct impact on Council District:
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All
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The anticipated debt service for 2010 for the Hotel Fund is $2,389,000. In years past, the operating budget of the hotel was reflected in this budget but it has never been reflected in the accounting system. The only item that the City of Shreveport pays directly is the debt service and then collects excess revenues as available from the operating account that the hotel management maintains. The full operating budget of hotel operations is included in the budget book.
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TIMETABLE
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October 13, 2009
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By December 15, 2009
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SPECIAL PROCEDURAL REQUIREMENTS
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A public hearing must be held on this budget for adoption by Council.
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Approval of this ordinance is recommended.
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Rick Seaton, Assistant CAO
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ORDINANCE NO. ____OF 2009
AN ORDINANCE ADOPTING THE 2010 BUDGET FOR THE CONVENTION CENTER HOTEL ENTERPRISE FUND, APPROPRIATING THE FUNDS AUTHORIZED THEREIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO
BY:
WHEREAS, Article 7 of the Charter of the City of Shreveport requires the adoption of a comprehensive operating budget for the fiscal year beginning January 1, 2010; and
WHEREAS, the City Council has created a Convention Center Hotel Enterprise Fund, whose purpose is to account for the revenues and expenses of the hotel.
NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of Shreveport, in legal session convened, that:
1. Estimated Receipts - The estimated Convention Center Hotel Enterprise Fund receipts for the year 2010 are hereby established and adopted as follows:
Interest Earnings $ 35,000
Miscellaneous Income 1,500,000
Current Year Fund Balance 876,600
2. Appropriations - The funds set forth in the following classes of expenditures are hereby appropriated out of the Convention Center Hotel Fund’s receipts for the year 2010:
Contractual Services $ 0
Other Charges 2,389,000
Operating Reserves 22,645
3. The Convention Center Hotel 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 the Convention Center Hotel 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:
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City Attorney’s Office
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