HomeMy WebLinkAboutCity of Tamarac Resolution R-2003-022Temp. Reso. #10017
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2003-,�,�_
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA, AMENDING
THE ANNUAL BUDGET OF ESTIMATED
REVENUES AND EXPENDITURES FOR FISCAL
YEAR 2003 APPROPRIATING DEBT SERVICE
PAYMENTS PURSUANT TO BOND COVENANTS;
PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City Commission on the 18t" day of September 2002
adopted Ordinance No. 0-2002-17 approving the annual budget for fiscal year
2003; and
WHEREAS, the City Manager has identified areas within City operations
requiring immediate action; and
WHEREAS, funds currently budgeted in the General Fund for the debt
service on the City of Tamarac Sales Tax Revenue Bond, Series 2002 Revenue
Bonds need to be transferred to the Revenue Bond Fund in order to appropriate
debt service payments as specified in the bond covenants; and
WHEREAS, an inter -fund transfer of $678,140 from the General Fund
account entitled "Transfer to Revenue Bond Fund" to the Revenue Bond Fund is
needed to put budget in place for annual debt service payments; and
WHEREAS, the preliminary year-end audit indicates a balance of
$145,517 in the Revenue Bond Fund available for appropriation to the
appropriate debt service payment account; and
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WHEREAS, the City Manager has determined, through an assessment of
available resources and current obligations of the City, that sufficient funds exist
to carry out these immediate actions; and
WHEREAS, these adjustments to the Fiscal Year 2003 Budget require the
amending of estimated revenues and expenditures found within the Fiscal Year
2003 annual budget; and
WHEREAS, the Director of Finance and City Manager recommend
adjustments to the present Fiscal Year 2003 budget based on the
aforementioned assessment; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it
to be in the best interest of the citizens and residents of the City of Tamarac to
amend the Fiscal Year 2003 Budget to address those operational areas requiring
immediate action.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and
confirmed as being true and correct and are hereby made a specific part of this
Resolution.
SECTION 2: The budget of the City of Tamarac is hereby amended, as
follows, as adopted by the City Commission:
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REVENUE BOND FUND 239
Revenues:
Fund Balance
Transfer from General Fund
Total
Appropriations:
2002 Sales Tax Revenue Debt Service -Principal
2002 Sales Tax Revenue Debt Service -Interest
2002 Sales Tax Revenue Debt Service -other costs
Total
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$145,557
678,140
$823,697
$231,904
586,793
5,000
$823,697
SECTION 3: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 4: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
invalid, in part or application, it shall not affect the validity of the remaining
portions or applications of this Resolution.
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SECTION 5: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this 22nd day of January, 2003.
ATTEST:
Ag�-�
MARION SW NSON, CMC
CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
ITCHW-LV6S.
CITY ATTO
E JOE SCHREIBER
MAYOR
RECORD OF COMMISSION
MAYOR SCHREIBER
DIST 1: V/M. PORTNER
DIST 2: COMM. MISHKIN _
DIST 3: COMM. SULTANOF
DIST 4: COMM. ROBERTS
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