HomeMy WebLinkAbout51-95 RESOLUTIONRESOLUTION NO. 51-95
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE AN AGREEMENT WITH THE
CHAMBER OF COMMERCE TO TRANSFER THE
RESPONSIBILITY OF MANAGING AND MAINTAINING THE
SQUARE GARDEN, APPROVAL OF AN ADDITIONAL FULL-
TIME POSITION FOR THE MAINTENANCE OF THE
SQUARE GARDEN, AND APPROVAL OF A BUDGET
ADJUSTMENT IN T1 -IE AMOUNT OF $12,000.00.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council hereby authorizes the Mayor and City Clerk to
execute an agreement with the Chamber of Commerce to transfer the responsibility of managing
and maintaining the square garden and approves an additional full-time position for the
maintenance of the square garden. A copy of the agreement is attached hereto marked Exhibit
"A" and made a part hereof.
Section 2. The City Council hereby approves a budget adjustment in the amount of
$12,000.00 increasing Salaries & Wages, Acct. No. 1010 5450 5100 00 and FICA, Acct. No.
1010 5450 5105 00 by decreasing Garden Maintenance -Chamber, Acct. No. 1010 0001 4999 00.
A copy of the budget adjustment is attached hereto and made a part hereof.
PASSED AND APPROVED this 4th day of Annl , 1995.
ATTEST:
By:
TILJPA 1,
Traci Paul, City Clerk
,
CITY OF FAYETTEVILLE, ARKANSAS
Square Gardens Maintenance Transfers
AN AGREEMENT FOR THE TRANSFER OF FUNDS FROM
FAYETTEVILLE CHAMBER OF COMMERCE TO THE CITY OF FAYETTEVILLE
This agreement is executed on the /67LA day of ilia)/
1995. This agreement is by and between the City of Fayetteville,
Arkansas, hereinafter referred to as "City," and the Fayetteville
Chamber of Commerce, hereinafter referred to as "Chamber."
•
the
STIPULATIONS
WHEREAS, the Chamber currently receives funds for deposit to
Fayetteville Development Foundation's Square Gardens Operating
Account, hereinafter referred to as "Account"; and
WHEREAS, the sole purpose of said Account is to provide for
the maintenance of the Downtown Square Gardens, hereinafter
referred to as "Gardens"; and
WHEREAS, a Square Garden Trust Fund, hereinafter referred to
as "Fund", was created for the specific purpose of generating
income to be used for the operations and improvements of said
Gardens; and
WHEREAS, the Chamber controls the disbursement of income
generated by the Fund; and
WHEREAS, the City is currently providing for the maintenance
of said Gardens;
• •
AGREEMENT
Henceforth, the Chamber hereby agrees to transfer all funds
receipted into the "Account" to the City's Square Gardens
Maintenance Contribution Account. The sole and specific purpose of
this transfer is to dedicate funds for Garden maintenance.
All transfers shall be remitted to the City from the Chamber
on a quarterly basis. Such transfers shall continue uninterrupted
for as long as the City shall provide maintenance for the Garden.
The City shall provide a annual report to the Chamber
detailing all financial activities concerning the application of
the transferred funds to Garden maintenance.
It is further agreed all investment income derived from the
"Trust Corpus" shall be remitted to the City. This remitted
investment income shall be based on a Fund balance of not less than
$100,000. The initial transfer shall include all funds available
over and above the Fund's $100,000 principal balance.
Finally, it is agreed that the Fund's principal balance shall
not drop below the initial $100,000 balance as a result of this
agreement.
IN WITNESS WHEREOF, the parties to these presents have
executed this agreement in three (3) counterparts, each of which
will be deemed an original, in the year and day first above
mentioned.
2
ATTEST
Ak,ox:
Traci Paul, City Clerk
ATTEST:
Name:
Title:
3
CITY OF Ft YETTEVILLE, ARKANSAS
By:
F f/401,1444.-"---
ed Hanna, Mayor
Irrigation system repairs
Weed trimer blades, pruners/loppers, misc
T 0 LO ZD Ul U) nt C> 0 0 CV UD C) Tt C)
0) LO NI- Ch N r% CO CD 0 C> 40 CV Tim a) in
c La ur Cv) T- T- CV T La WY a) N R c> N
ti R ci d 01 01 1- ci ai
c N
m
I1_
To
so
i-
Original Budget
Account Name
CV o
CO CD
01 03
IC Ci
CO
R00000 o o o cu o 0* o
IN. CV 1- CV P.. r- cr) C) C) OD CV Tt CD LO
'•-• lot Cr) I' 1- CC! T 141 CD Is- r.
ai C4CJ CJ ci c‘i
01
a) 0
0
OW
ca)15
>1
iii .52
o a t
ta) 5 1 1 1 1
c 0
oo cp ai a) CD CD CD t W g E
.,,,0c)00c.)
--Erncccc zt0-,9
g 0 Iss- —ed OS OS OS 01 .0 E5 sa cis
T L . '''' 1— la la. la
03 g w 5 0 = = = Zs6 4 :2) 0_
os.c>00000 300a)
cr) cc) 0 co = = c c
0
8
C\I
o"
o
City of Fayetteville, Arkansas
Budget Adjustment Form
Budget Year
1995
Department: Public Works
Division: Street
'Program: City Gardener
Date Requested
April 4, 1995
Adjustment #
Project or Item Requested:
Additional funding is requested to add one full time equivalent
employee to maintain the Square Gardens.
Project or Item Deleted:
None. Recognition of additional revenue will fund this request.
Justification of this Increase:
The funds will be used to hire one full time equivalent employee to
maintain the gardens. The A & P Commission has budgeted funds
to rebuild the gardens in the A & P Fund.
Justification of this Decrease:
Increase
Account Name Amount Account Number Project Number
Salaries & Wages
Fica
11,142 1010 5450 5100 00
858 1010 5450 5105 00
Decrease
Account Name Amount Account Number Project Number
Garden Maintenance — Chamber
12,000 1010 0001 4999 00
Approval Signatures
nt D ector
aShbr
Adrarervicee
Ma. 71/414
Budget Office Use Only
Type: A BCD
Date of Approval
Posted to General Ledger
Entered in CategoryLog
Budget Office Copy
