HomeMy WebLinkAboutResolution 1997-054
RESOLUTION NO. 97-54
WHEREAS, the City Council of the City of North Richland Hills desires to protect the
public investment in the Aquatic Park known as NRH20; and
WHEREAS, the City Council finds it desirable and sound fiscal management to
replace and preserve the infrastructure of said City owned Aquatic Park; and
WHEREAS, the City Council believes such preservation may be secured by the
creation of a Reserve in the Aquatic Park Fund dedicated solely to the major replacement
and maintenance of the Aquatic Park facilities and structures; and
WHEREAS, the City Council has determined that the creation of said Reserve will
be in the best interest of the citizens of the City of North Richland Hills,
NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCil OF THE CITY OF NORTH RICHlAND
HillS,
SECTION 1: THAT there be and is hereby created a Reserve in the Aquatic Park
Fund to provide solely for major replacement and maintenance of Aquatic Park facilities
and structures.
SECTION 2: THAT the Reserve shall be established and monies dedicated and
deposited therein on an annual basis as part of the annual budgetary and fiscal process
of the City of North Richland Hills.
SECTION 3: THAT funds shall be specifically reserved annually (based on life
expectancy and replacement value as with deprecation) for major improvements and
replacements, and the reserves will continue to grow and be maintained at a level which
will preserve the Aquatic Park as determined by the City Manager and approved by the
City Council.
SECTION 4: THAT all expenditures from said Reserve shall be consistent with
approved contracts or bid specifications and that policies and procedures for the
Administration of said Reserve shall be developed by the City Manager.
SECTION 5: THAT such Reserves shall not be used for routine maintenance and
minor replacements which will be provided for in the annual operating budget of the
Aquatic Park.
SECTION 6: THAT such Reserves shall not be used for additions to the Aquatic
Park, including but not limited to new attractions or support areas for new attractions.
SECTION 7: THAT in the event of a natural disaster or other public calamity
resulting in an extreme emergency said Reserves may be used for purposes other than
those specified herein with approval of the City Council.
PASSED BY THE CITY COUNCIL this 24th day of November, 1997.
APPROVED:
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ATTEST:
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Patricia Hutson, City Secretary
APPROVED AS TO FORM AND LEGALITY: