HomeMy WebLinkAbout234-09 RESOLUTIONRESOLUTION NO. 234-09
A RESOLUTION ADJUSTING THE 2009 CITY BUDGET TO APPOPRIATE
THE PROCEEDS OF THE 2009 SALES TAX BOND ISSUE FOR STREETS
AND TRAILS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. The City Council of the City of Fayetteville, Arkansas amends the 2009 city
budget by approving the attached budget adjustment which appropriates proceeds of the 2009
sales tax bond issue for streets and trails by adding $9,633,445.00 to the street improvements
account, $1,258,624.00 to the trails account and $357,931.00 in various bond costs accounts,
with a corresponding reduction of $11,250,000.00 in the bond proceeds account.
PASSED and APPROVED this Pt day of December, 2009.
APPROVED: ATTEST:
By:
L O ELD J !yft AN, Mayor
By: 4t , &4tz
SONDRA E SMIT , City Clerk/Treasurer
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Paul A. Becker
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
12/1/2009
City Council Meeting Date
Agenda Items Only
Finance
Division
Action Required:
Finance and Internal Services
Department
This request is for the City Council to appropriate the proceeds of the 2009 Sales Tax Bond Issue for Streets and
Trails. This will authorize the use of the proceeds of the second phase of bond funding for the Streets and Trails
programs.
11,250,000.00
Cost of this request
4520-9540-5809-00
4520-9550-5814-05
Account Number
06035
06036
Project Number
Budgeted Item
0
Category / Project Budget
0
Funds Used to Date
0
Remaining Balance
Budget Adjustment Attached
2(
Transportation Bond Street Imp.
Transportation Bond Trail Imp.
Program Category / Project Name
Steet Improvements
Trail Improvements
Program / Project Category Name
Sales Tax Construction
Fund Name
AU
Finance and Internal Services Director
Date
//
Date
11 -9 -Zoog
Date
►1- 4 - '
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in
Mayor's Office
if
1;
Comments:
Revised January 15, 2009
% uy un rayettevure, artcansas
Budget Adjustment Form
Budget Year
2009
Department:
Division:
Program:
Citywide
Citywide
2009 Sales Tax Construction Expense
Date Requested
11/2/2009
Adjustment Number
Project or Item Added/Increased:
$9,633,445 is requested in the Street Improvements
account, $1,258,624 in the Trails account and $357,931
in various bond costs accounts.
Project or Item Deleted/Reduced:
$11,250,000 from the bond proceeds account.
Justification of this Increase:
To recognize the proceeds from the 2009 Sales and Use
Tax Bond Issue and the corresponding expenditures for
the street and trail programs.
Justification of this Decrease:
To record the issuance of the bonds for the street and trail
programs.
Account Name
Street Improvements
Bond Issuance Cost
Bond Discount
Trails
Bond Issuance Cost
Bond Discount
Account Name
Proceeds from Bond Sales
Proceeds from Bond Sales
Increase Budget
Account Number
4520
4520
4520
4520
4520
4520
9540 5809
9540 7506
9540 7507
9550 5814
9550 7506
9550 7507
Decrease Budget
Account Number
Amount
Project Number
00 9,633,446 06035 1
00 266,586 06035 1
00
49,968 06035 1
05 1,258,623 06036 1
00
34,845 06036 1
00 6,532 06036 1
4520 0952 6884 00
4520 0952 6884 00
Amount
Project Number
9,950,000 06035 1
1,300,000 06036 1
Division Head
d
(rector
Department Director
Finance 1 rector
Cluetafi
•
May.'
Date
Date
11-3-2ooq
Date
11 - 3-2oo,
Date
3
aq
ate
Date
V.090403
Budget & Research Use Only
Type: A B C E
Requested By
General Ledger Date
Posted to General Ledger
Posted to Project Accounting
Initial
Date
Initial Date
le
THE CITY OF FAYETTEVILLE, ARKANSAS
ARKANSAS
• TDD (Telecommunications Device for the Deaf)
www.accessfayetteville.org (479) 521-1316
TO: Mayor Lioneld Jordan and Fayetteville City Council
FROM: Paul A. Becker, Finance Director
DATE: November 10, 2009
SUBJECT: Appropriation Authority for 2009 Series Bond Issue Proceeds
Background:
Pursuant to the passage of Ordinance 5277 October 6, 2009 the series 2009 Bonds have been sold. To proceed
with the identified projects it is necessary to create new programs in the Sales Tax Construction Fund and
appropriate the 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 2009.
Budget Impact:
The attached budget amendment will fund Sales Tax Construction Project Improvements. The funds allocated for
trail projects are $1,258,623 and the amount allocated to street projects is $9,633,446.
RESOLUTION NO.
A RESOLUTION ADJUSTING THE 2009 CITY BUDGET TO
APPOPRIATE THE PROCEEDS OF THE 2009 SALES TAX BOND
ISSUE FOR STREETS AND TRAILS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. The City Council of the City of Fayetteville, Arkansas amends
the 2009 city budget by approving the attached budget adjustment which
appropriates proceeds of the 2009 sales tax bond issue for streets and trails by
adding $9,633,445.00 to the street improvements account, $1,258,624.00 to the
trails account and $357,931.00 in various bond costs accounts, with a
corresponding reduction of $11,250,000.00 in the bond proceeds account.
PASSED and APPROVED this 1st day of December, 2009.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer