Page 383 - CityofSouthlakeFY26AdoptedBudget

If at any time during the fiscal year it appears probable to the City Manager that the revenues available will
be insufficient to meet the amount appropriated, the City Manager shall report to the Council without delay,
indicating the estimated amount of the deficit, any remedial actions taken by the City Manager and his/
her recommendations as to any other steps to be taken. The Council shall then take such further action as
it deems necessary to prevent or minimize any deficit, and for that purpose the Council may by ordinance
reduce one or more appropriations.
Appendix
9.23. Transfer of Appropriations.

At any time during the fiscal year the City Manager may transfer part or all of any unencumbered
appropriation balance among programs within a department, division, or office and, upon written request
by the City Manager, the Council may by ordinance transfer part or all of any unencumbered appropriation
balance from one department, office or agency to another.

9.24. Limitations.

No appropriation for debt service may be reduced or transferred, and no appropriation may be reduced
below any amount required by law to be appropriated or by more than the amount of the unencumbered
balance thereof.

9.25. Effective Date.

The supplemental and emergency appropriations and reduction or transfer of appropriations authorized by
this section may be made effective immediately upon adoption of the ordinance or budget amendments.

C.
BORROWING

9.30. Authority to Incur Indebtedness.

The Council shall have the power to incur, create, refund and refinance indebtedness and borrow money for
public purposes; to issue special or general obligation bonds, revenue bonds, funding and refunding bonds,
time warrants and other evidences of indebtedness and to secure and pay the same in the manner and in
accordance with the procedures provided and required by state law.

Editors Note: Municipal bonds, Vernon’s Ann. Civ. St. art. 701 et seq.

9.31. General Obligation Bonds.

The City shall have the power to borrow money on the credit of the City and to issue general obligation
bonds for permanent public improvements or for any other public purpose not prohibited by law and this
Charter and to issue refunding bonds to refund outstanding bonds previously issued. All such bonds shall
be issued in conformity with the laws of the State of Texas and shall be used only for purposes for which
they were issued. Any bond, excluding refunding bonds, to be issued under the provisions of this section
shall not be issued without an election held in accordance with the provisions of state law.
9.32. Revenue Bonds.

The City shall have the power to borrow money for the purpose of constructing, purchasing, improving,

FY 2026 City of Southlake | Budget Book 383