This resolution explicitly states the Lubbock City Council's intent to create a contract with Lubbock voters regarding the use of the $110 million requested in the November, 2024 Bond Election. Should the Bond Election pass, this resolution lists the projects that will be funded with the proceeds, including the initial estimated cost for each proposed project. These bond funds will not be used on any other roadway project unless all of the projects listed in this resolution are substantially complete and funds remain. Should the listed projects be substantially complete and funds remain, the resolution requires a three-step process to fund additional street and roadway projects.
• First, the projects must be similar in nature to those in Exhibit A.
• Second, the projects must comply with state law related to use of the bond proceeds.
• Finally, the Lubbock City Council must approve by affirmative vote, any additional project(s).
|