HomeMy WebLinkAbout208-06 RESOLUTION4
RESOLUTION NO. 208-06
A RESOLUTION APPROVING THE CREATION OF A
NEW FUND TO BE CALLED "SALES TAX 2006A
CONSTRUCTION FUND;" AND APPROVING A BUDGET
ADJUSTMENT IN THE AMOUNT OF $50,788,406.00 FOR
THE WASTEWATER SYSTEMS IMPROVEMENT PROJECT,
THE STREET IMPROVEMENTS BOND PROJECT, AND
THE TRAIL IMPROVEMENTS BOND PROJECT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas hereby
approves the creation of a new fund to be called "Sales Tax 2006A Construction Fund."
Section 2. That the City Council of the City of Fayetteville, Arkansas hereby
approves a Budget Adjustment in the amount of $50,788,406 00 for the Wastewater
Systems Improvement Project, the Street Improvements Bond Project, and the Trail
Improvements Bond Project, to be appropriated and allocated as follows:
Wastewater Systems Improvement Project
Street Improvements Bond Project
Trail Improvements Bond Project
$25,394,201.00
$24,581,590.00
$812,615.00
PASSED and APPROVED this 5th day of December, 2006.
APPROVED:
By
ATTEST.
By: �JX�ttie�ce i X
DAN COODY, Mayor
. C . ?4>,
\-a. Xt i .!p.:
Po:.7°,
E :FAYETTEVILLE:
%y,:9,9kAN` 47
' J
SONDRA SMITH, City Clerk
City of Fayetteville, Arkansas
Budget Adjustment Form
Budget Year
2006
Department: Sales Tax 2006A Construction
Division:
Program:
Date Requested
12/5/2006
Adjustment Number
Project or Item Added/Increased:
$25,394,201 is requested for Wastewater System
Improvements Project, $24,581,590 is requested in the.
Street Improvement project, and $812,615 in the Trails
project.
Project or Item Deleted/Reduced:
$50,788,406 is being requested from the Bond Proceeds
account.
Justification of this Increase:
To set up projects related to the passage of Ordinance
4936 on October 13.
Justification of this Decrease:
To recognize proceeds from the sale of Sales Tax 2006A
Construction Fund bonds.
Increase Expense Budget (Decrease Revenue Budget)
Account Name
Sewer improvements
Street improvements
Trails
Account Name
Account Number
4520 - 9520
4520 9520
4520 9520
5815
5809
5814
00
00
05
Amount
Project Number
25,394,201 02133 1
24,581,590 06035 1
812,615 06036 1
Decrease Expense Budget (Increase Revenue Budget)
Account Number Amount
Proceeds from bond sales
Proceeds from bond sales
Proceeds from bond sales
4520 0952
4520 0952
4520 0952
6884 '00 25,394,201
6884 00 24,581,590
6884 00
Project Number
02133
06035 1
812,615 06036 1
Approval Signatures
Tcuai Q (' ots.,--
Requested By
II -
Date
B dget Manager
Department Director
Finance & Intern ervices Director
6 �'
Mayor
Date
II -t1: -o6.
Date
ti—l6-ob
Date
diet
Date
Budget Office Use Only
Type: A B
Posted to General Ledger
Posted to Project Accounting
Entered in Category Log
c
Initial
Initial
Initial
E
Date
Date
Date
•
Paul A. Becker
Submitted By
City of Fayetteville
Staff Review Form
City Council Agenda Items
or
Contracts
12/5/2006
City Council Meeting Date
Finance
Division
Action Required:
Finance
Department
Approval of a budget amendment to appropriate bond proceeds of the Series 2006A Bonds for the Wastewater
Systems Improvements Project, the Street Improvements Bond Project, and the Trail Improvements Bond Project.
Cost of this request
4520.9520.XXXX.XX
Account Number
Various
Project Number
Budgeted Item
Category / Project Budget
Funds Used to Date
$
Remaining Balance
Budget Adjustment Attached
X
Program Category / Project Name
Program / Project Category Name
Sales Tax 2006A Construction
Fund Name
`Pa..S a . LA,
Department Director
City Attorney
+0,A
Finance Director
Mayor
It- 16-6G
Date
l
1 1 06
ate
11-1(0-0,4
Date
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Comments:
rayeaevlli
ARKANSAS
DEPARTMENTAL CORRESPONDENCE
•
TO: Mayor Dan Coody and Fayetteville City Council
FROM: Paul A. Becker, Finance Director
DATE November 16, 2006
SUBJECT: Appropriation Authority for 2006A Series Bond Issue Proceeds
Background:
Pursuant to the passage of Ordinance 4936 on October 13, 2006 series 2006A Bonds
have been sold. To proceed with the identified projects it is necessary to create a new
fund to be called Sales Tax 2006A Construction Fund and appropriate the bond
proceeds in accordance with the attached budget amendment.
Recommendation:
It is recommended that the attached budget amendment be approved so that planned work
can commence in fiscal year 2006.
Budget Impact:
The attached budget amendment will fund the following capital projects:
Wastewater System Improvements Project $25,394,201
Street Improvements Bond Project $24,581,590
Trail Improvements Bond Project $ 812,615
The funds will come from Bond Proceeds authorized by City Council through Ordinance
4936 on October 13, 2006.
Closing:
If you have any questions concerning this agenda item, please feel free to contact me at
575-8330. Thank you for your attention to this matter.
RESOLUTION NO.
A RESOLUTION APPROVING THE CREATION OF A
NEW FUND TO BE CALLED "SALES TAX 2006A
CONSTRUCTION FUND;" AND APPROVING A BUDGET
ADJUSTMENT IN THE AMOUNT OF $50,788,406.00 FOR
THE WASTEWATER SYSTEMS IMPROVEMENT PROJECT,
THE STREET IMPROVEMENTS BOND PROJECT, AND
THE TRAIL IMPROVEMENTS BOND PROJECT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS•
, Section 1. That the City Council of the City of Fayetteville, Arkansas hereby
approves the creation of a new fund to be called "Sales Tax 2006A Construction Fund."
Section 2. That the City Council of the City of Fayetteville, Arkansas hereby
approves a Budget Adjustment in the amount of $50,788,406.00 for the Wastewater
Systems Improvement Project, the Street Improvements Bond Project, and the Trail
Improvements Bond Project, to be appropriated and allocated as follows:
Wastewater Systems Improvement Project $25,394,201.00
Street Improvements Bond Project $24,581,590.00
Trail Improvements Bond Project $812,615.00
PASSED and APPROVED this 5th day of December, 2006.
APPROVED:
ATTEST:
DY, Mayor
SONDIMMITII City.Clerk
B12.12.06) Clarice Pearman - Res. 208-06 Page 1
From: Clarice Pearman
To: Becker, Paul
Date: 12.12.06 3:15 PM
Subject: Res. 208-06
Attachments: 208-06 Sales Tax Construction Fund.pdf
CC: Audit; Fell, Barbara
Paul:
Attached is a copy of the above resolution passed by City Council, December 5, 2006 creating an new fund. I will forward
the original budget adjustment to Budget & Research. If anything else is needed please let me know.
Thanks.
Clarice
Clarice Buffalohead-Pearman, CMC
City Clerk/Treasurer Division
113 West Mountain
Fayetteville, AR 72701
479-575-8309
cpearman@cilayetteville.ar.us