HomeMy WebLinkAbout251-12 RESOLUTIONRESOLUTION NO. 251-12
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO THE 2013
ANNUAL BUDGET IN THE AMOUNT OF $6,600,000.00 TO PROVIDE FOR
THE CONSTRUCTION OF A PARKING DECK FACILITY IN THE
DICKSON STREET ENTERTAINMENT DISTRICT AND CREATING A
PARKING DECK PROJECT FUND
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 the 2013 Annual Budget, a copy of which is attached as Exhibit "A", in the
amount of $6,600,000.00 to provide for the construction of a parking deck facility in the Dickson
Street Entertainment District and creating a Parking Deck Project Fund.
PASSED and APPROVED this 18th day of December, 2012.
APPROVED:
ATTEST:
By: �J�4rtAci)V
, Mayor SONDRA E. SMITH, City Clerk/Treasurer
City of Fayetteville, Arkansas
Budget Adjustment Form
V12.0724
Budget Year
20J3
Division: *ALL DIVISIONS
Department: Citywide
Request Date
12/10/2012
Adjustment Number
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
To appropriate funding for the Parking Deck Project. The funds will come from the proceeds of issuing bonds and
from the City's Parking Revenue Fund. 1'14i' Al?? 0?m. pit' to tof_ A-MLEA i T yf(L 7,0 3 b
4
Division Head
Date
Prepared By:
Reference:
kspringer
dget Director Date Budget & Research Use Only
_ Q �.^ 1Q-2Qt2.„ Type: A B CD E P
Department Director Date
Fina
e Director
Chief o
i
, 11 -16 -mi
Date
Alta/"— -4/1.)
tall / 1 Date
y•r
d
td
General Ledger Date
Posted to General Ledger
Checked / Verified
Initial Date
Initial Date
TOTAL BUDGET ADJUSTMENT 6,600,000 6,600,000
Increase / (Decrease) Project.Sub
Account Name Account Number Expense Revenue Number
**ADD**Proceeds from bond sales
**ADD**Transfer from OSP
**ADD**Building costs
4560.0956.6884.00 zi - 5,800,000 12017 .
4560.0956.6602.13 zi
400,000 12017. 1
4560.9560.5804.00 E3 6,200,000 12017 . 1
`TONS i P A/(iNC 4c( 2130.9132.7602.56 :3) 400,000
Use of fund balance
2130.0913.4999.99 zi 400,000
http://www.citynet.fay/view/doViewFile.cfm
a
a
EXHIBIT
A
1 of 1
Paul A Becker
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
12/18/2012
City Council Meeting Date
Agenda Items Only
Finance and Internal Services Finances and Internaql Services
Division
Action Required:
Department
This request is to create and appropriate the Parking Deck Project Fund to provide for the construction of a deck
facitity in the Dickson Street area in the 2013 budget. This project will be financed by the previously approved
revenue bond issue as well as Parking Fund reserves. -
$6,200,000
Cost of this request
4460 0956 6884.00
460 0956 6602.13
4560 9560 5804.00
Account Number
Project Number
N/A
Category / Project Budget
Program Category / Project Name
Funds Used to Date Program / Project Category Name
Remaining Balance Fund Name
Budgeted Item Budget Adjustment Attached
x
134....9, CL . ta.._.l..--- _
Departme
Ci .rney
Finance and Internal Services Director
Date
Previous Ordinance or Resolution #
Original Contract Date:
/z— (— / 2—Original Contract Number:
Date
11- 11- 261 _
Date
Date
D to
Received in City1 2-10-1 2 PO4'14 2 C V 0
Clerk's Office
Comments:
Revised January 15, 2009
www.accessfayetteville.org
CITY COUNCIL AGENDA MEMO
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENT CORRESPONDENCE
To: Mayor Lioneld Jordan and City Council
Thru: Don Marr Chief of Staff
From: Paul A Becker
Date: December 10, 2012
Subject: To establish and appropriate funds for the Parking Deck Construction Fund
PROPOSAL: At this time the City is in the process of selling parking deck revenue bonds in the face amount
of approximately $6,220,000. From that sale the City is expected to receive $5,800,000 for the project. The
balance of the necessary funding would come from the Parking Fund. The established construction fund
requested is $6,200,000.This appropriation will be added to the 2013 budget.
RECOMMENDATION: That the City Council approves the creation of and the appropriation of the Parking
Deck Project Fund pursuant to the attached resolution. The new fund number would be Fund 4560 and called
the Parking Deck Project Fund.
BUDGET IMPACT: The creation of a $6,200,000 Parking Deck Project Fund. This additional appropriation
will be made to the 2013 budget.
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT TO THE 2013
ANNUAL BUDGET IN THE AMOUNT OF $6,600,000.00 TO PROVIDE FOR
THE CONSTRUCTION OF A PARKING DECK FACILITY IN THE
DICKSON STREET ENTERTAINMENT DISTRICT AND CREATING A
PARKING DECK PROJECT FUND
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 the 2013 Annual Budget, a copy of which is attached as Exhibit "A", in the
amount of $6,600,000.00 to provide for the construction of a parking deck facility in the Dickson
Street Entertainment District and creating a Parking Deck Project Fund.
PASSED and APPROVED this 18th day of December, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer