Number
031257
Version
Original
Sponsor
THE CHAIR
Title
Resolution ratifying various fund transfers related to special assessment improvements.
Analysis
This resolution ratifies various transfers among City funds resulting from the recent financing of special assessment improvements.
Body
Whereas, Cash in the General Fund has been advanced for financing local improvements to be paid for by special assessments; and
Whereas, Permanent financing has been secured for some of the improvements; and
Whereas, The Special Assessment Fund is a fund created for administrative convenience and for legal purposes is part of the General Fund and receives special assessment payments which are used to repay special assessment financings; and
Whereas, The Special Assessment Fund has payments and other funds available for the retirement of financings; and
Whereas, The Public Debt Amortization Fund (the PDAF) was created by s. 67.101 in order to assist in the retirement of the City's debt; and
Whereas, The City desires to use the PDAF to assist in the retirement of City debt from amounts available in the Special Assessment Fund; now, therefore, be it
Resolved, That the amount of $6,080,000 be appropriated from the Special Assessment Fund to the Public Debt Amortization Fund and such required fund transfer take place on or before December 31, 2003 and that such fund transfer be and hereby is ratified.
Requestor
Comptroller
Drafter
Comptroller
RL:as
REF: PD-6679aW.DOC