Authorize a Transfer in the Amount of $328,273.94 from the Culture and Tourism Capital Projects Legacy Fund to the Culture and Tourism Capital Projects Fund to Allow Clean-Up of Residual Proceeds from Capital Improvements to the Will Rogers Memorial Center and Expenditure of Such Funds on Future Capital Improvements; and Adopt Appropriation Ordinances (COUNCIL DISTRICT 7)

It is recommended that the City Council:

1.  Adopt the attached ordinance increasing estimated receipts and appropriations in the Culture and Tourism Capital Projects Legacy Fund (39201) in the amount of $328,273.94 for transfer to the Culture and Tourism Capital Projects Fund (30101);

2.  Authorize the transfer of $328,273.94 from the Culture and Tourism Capital Projects Legacy Fund (39201) to the Culture and Tourism Capital Projects Fund (30101) to allow clean-up of residual proceeds from capital improvements and expenditure of such funds on future capital improvements at Will Rogers Memorial Center; and

3.  Adopt the attached ordinance increasing estimated receipts and appropriations in the Culture and Tourism Capital Projects Fund (30101) in the amount of $145,000.00 from residual proceeds.

The purpose of this Mayor and Council Communication (M&C) is to clean-up the Culture and Tourism Capital Projects Legacy Fund (Legacy Fund) that has residual proceeds and move $328,273.94 of such residue to the Culture and Tourism Capital Projects Fund to pay for current, planned and future capital improvements to the Will Rogers Memorial Center (WRMC).  The Legacy Fund, which will have a remaining balance of approximately $4,000.00 after approval of this M&C, will be cleaned up for close out through separate M&Cs at a later date.

In 2015, the City and the Southwestern Exposition and Livestock Show cooperated on improvements to Cattle Barn 2 at the WRMC.  The City has $328,273.94 remaining from the Cattle Barn 2 project, all of which will all be transferred as part of this M&C.  Of the remaining funds, $145,000.00 have been allocated for the following capital improvements at the WRMC: coliseum lighting ($70,000.00) and walk-in coolers ($75,000.00).  The balance of the funds ($183,273.94) will remain in the unspecified project portion of the Culture and Tourism Capital Projects Fund to be appropriated when needed.

This project is in COUNCIL DISTRICT 7.

This M&C does not request approval of a contract with a business entity.