City of La Porte Operating Budgets Summary Report

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I I I I I I I I I I I I I I I I I I I 4. Certificates of Participation - Certificates of participation are similar to lease/purchase agreements. The City would enter into an agreement with a private leasing company or a nonprofit agency to finance the project. The financing entity owns the asset and the City leases the asset from them. This type of agreement does not require voter approval nor is it considered long term debt. Project Request Components A completed request for a Capital Improvement Project will contain the following components. The required information will be captured over a specified period of time. Project Number - The project number will be used as a reference number. it will be a sequential number issued by the Finance Department and will refer to the order of receipt of the project request. Priority Number - The priority number will be assigned as a result of a rating or prioritizing exercise. See the section on Rating and Prioritizing Projects for a detailed description of the coding structure that will be used. Project Name - The project name will be descriptive enough to positively identify the project. Project Short Name - The project short name will be a 30 character name that will be utilized in the preparation of reports. Responsible Department - The responsible department will be the name of the department that will be accountable for the oversight and completion of the project. Department Code - The Department Code will be a code that will refer to the responsible department. It will be used in reporting. The Department Codes are: Department Code Fire FD Police PD Administration ADM Finance FIN Public Works PW Parks & Recreation PR Planning PL 4