HomeMy WebLinkAboutCity of Tamarac Resolution R-99-274Temp. Reso # 8769
October 4, 1999
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-99 - 6LILI
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA, AMENDING THE
ANNUAL BUDGET OF ESTIMATED REVENUES AND
EXPENDITURES FOR THE FISCAL YEAR 1999 SALES
TAX REVENUE BOND BUDGET; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City Commission on the 215t day of May, 1998, adopted
Resolution No. R-98-156 approving the issuance of not exceeding $15,000,000
Revenue Bonds of the City of Tamarac, Florida to finance the repair and
resurfacing of public roadways, median beautification and other improvements to
such roadways within the City; and
WHEREAS, the City has issued revenue bond debt on August 6, 1999, in
the amount of $8,740,000 for the purpose of financing the resurfacing project;
and
WHEREAS, the acceptance of these funds requires the amending of
estimated revenues and expenditures within the Street Improvement Project
Fund 311, Street Construction Fund 312, Debt Service Fund 239 and the
General Fund 001 budget; and
WHEREAS, the City Manager has recommended these amendments to
the present annual budget to properly account for all budgetary actions related to
the street resurfacing project; and
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Temp. Reso # 8769
October 4, 1999
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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 FY 99 Budget to address the actions needed to implement the street
resurfacing project.
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 is hereby made a specific
part of this Resolution.
SECTION 2: The budget of the City of Tamarac is hereby
amended, in accordance with the 1999 Sales Tax Revenue Bond Budget
Document (attached as Exhibit A) and all necessary budgetary transfers of funds
are hereby approved.
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herewith are hereby repealed to the extent of such conflict.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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Temp. Reso # 8769
October 4, 1999
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SECTION 5: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this /9 n day of &WW'1999-
ATTEST:
I H BY CERTIFY that I have
A6'Drbvea this RLUTION arm
S HREIBER, MAYO
RECORD OF COMMISSION
MAYOR SCHREIBER
DIST 1: -COMM. PORT
DIST 2: M/M MISHKIN
DIST 3: COMM. SULTAN 5
DIST 4: COMM. ROBE
E
0 Exhibit A
Fiscal Year 1999
1999 Sales Tax Revenue Bonds Budget
Revenues Amount
Bond Proceeds $8,673,043
Interest Earnings 66,000
TOTAL REVENUE $8.739.042
Aoproproati,gns Amount
Constuction Costs $8,570,585
Bond Closing Expenses 168.458
TOTAL APPROPRIATIONS
. Revenues Amount
Transfer from Fund 312 $720,000
oropriatwg,ns Amoun
Construction Expenditures $720,000
Revenues Amount
Transfer from General Fund $81,985
AlzprQ nations Amount
Annual Debt Service Costs $81,985
Appropriations Amount
Contingency - Other Uses ($81,985)
Transfer to Fund 239 $81,985
TOTAL APPROPRIATIONS f2