HomeMy WebLinkAbout189-07 RESOLUTIONRESOLUTION NO. 189-07
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO
APPROPRIATE THE PROCEEDS OF THE SALES AND USE TAX
CAPITAL IMPROVEMENT BONDS, SERIES 2007 IN THE
AMOUNT OF $14,257,819.00 FOR THE WASTEWATER SYSTEM
IMPROVEMENT 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 a Budget Adjustment to appropriate the proceeds of the Sales
and Use Tax Capital Improvement Bonds, Series 2007 in the amount of
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$14,257,819.00 for the Wastewater System Improvement Project. R R
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PASSED and APPROVED this 6th day of November, 2007.
By
AN COODY, Ma,(
ATTEST.
By
SONDRA E. SMITH, City Clerk/Treasurer
City of Fayetteville, Arkansas
Budget Adjustment Form
Budget Year
2007
Department: 2007A Sales Tax Construction Exp
Division:
Program:
Date Requested
11/6/2007
Adjustment Number
Project or Item Added/Increased:
$14,257,819 is requested for the Wastewater System
Improvements Project.
Project or Item Deleted/Reduced:
$14 257,819 is being requested from the Bond Proceeds
account.
Justification of this Increase:
To set up projects related to the passage of Ordinance
5054 on August 23, 2007.
Justification of this Decrease:
To recognize proceeds from the sale of Sales Tax 2.007
Construction Fund bonds.
Increase Expense Budget (Decrease Revenue Budget)
Account Name Account Number Amount Project Number
Sewer improvements
Account Name
4520 9530 5815 00 14 257 819 02133 1
Decrease Expense Budget (Increase Revenue Budget)
Account Number Amount
Project Number
Proceeds from bond sales 4520 0952 6884 00 14,257,819 02133 1
ek-
Requested By
Approval Signatures
Mnager
Date
/6'1 '7
Date
Department Director
41,
Financefir. Inter 1)Services
Mayor
rector
Date
III -f6-07
Budget Office Use Only
Type: A B C
Posted to General Ledger
Posted to Project Accounting
Entered in Category Log
Initial Date
Initial Date
Initial Date
Paul A. Becker
Submitted By
City of Fayetteville
Staff Review Form
City Council Agenda Items
or
Contracts
,t a. 61 e2007
City Council Meeting Date
Finance
Division
Action Required:
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5/45 ast.-14)(
ete gend5 *res
61
Finance
Department
Approval of a budget amendment to appropriate bond proceeds of the Sales and Use Tax Capital Improvement Bonds,
Series 2007 for the Wastewater System Improvement Project in the amount of $14,257,819.
Cost of this request
4520.9530.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
`-Po lagso . .-
Department Director
City Attorney I Ultd
10-5-07
Date
Id
A'cLA.9,
Finance Director
Mayor
Comments:
/DO
Dat
ID -10-07
Date
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in City
erks Office
ENTERED t.
Wttv!llee
DEPARTMENTAL CORRESPONDENCE
TO: Mayor Dan Coody and Fayetteville City Council
FROM: Paul A. Becker, Finance Director
DATE• October 9, 2007
SUBJECT: Appropriation Authority for 2007 Series Bond Issue Proceeds
Background:
Pursuant to the passage of Ordinance 5054 on August 3, 2007, the series 2007 Bonds
have been sold. To proceed with the identified projects it is necessary to create a new
program in the Sales Tax 2006 Construction Fund and appropriate the proceeds in
accordance with the attached budget amendment. This will supply the final funding needed
to complete the WSIP project.
Recommendation:
It is recommended that the attached budget amendment be approved so that planned work
associated with the WSIP can be completed.
Budget Impact:
The attached budget amendment will fund the Wastewater System Improvement Project
the amount of $14,257,819. The funds will come from the bond proceeds.
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO
APPROPRIATE THE PROCEEDS OF THE SALES AND USE TAX
CAPITAL IMPROVEMENT BONDS, SERIES 2007 IN THE
AMOUNT OF $14,257,819.00 FOR THE WASTEWATER SYSTEM
IMPROVEMENT 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 a Budget Adjustment to appropriate the proceeds of the Sales
and Use Tax Capital Improvement Bonds, Series 2007 in the amount of
$14,257,819.00 for the Wastewater System Improvement Project.
PASSED and APPROVED this 6th day of November, 2007.
APPROVED: ATTEST:
By: By:
DAN COODY, Mayor SONDRA E SMITH, City Clerk/Treasurer
X11.16.07) Clarice Pearman - Res. 189-07 Page 1
From: Clarice Pearman
To: Becker, Paul
Date: 11.16.07 4:11 PM
Subject: Res. 189-07
Attachments: 189-07 Sales & Use Tax CIP Bonds 07.pdf
CC: Audit; Fell, Barbara
Mr. Becker:
Attached is a copy of the above resolution passed by City Council, November 6, 2007. I will forward your original budget
adjustment to Budget & Research. Please let me know if there is anything else needed for this item. Have a good weekend.