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12-29-08 Council Meeting Agenda & Packet
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12-29-08 Council Meeting Agenda & Packet
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10/4/2010 1:50:28 PM
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12/24/2008 11:32:32 AM
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City Council - City Clerk
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I~HI~JT o <br />F THH ~ ~rCII~ F THE tr' F ~JTH , I.~I~.A~,Ay <br />~.~~. <br />lI~ F ~~A~IIJ FYI T~ TIC. ~I~~I T~ ~ I~ F <br />NIi <br />P~~L1L ~I~ T~ ~~IT~PT T~ I AT <br />i ~ ne ~ ~o~~ due to 1o el`ty ~~~ rea5~e5s171ent ~lld a11tlGlp~td delays 311 the ~il~ing <br />HHR~A, an ~~ ~ ~ <br />the i of ~o~th BeilC, the ~flxlu~~on ounc~l enacted Ordin~llCe ~o, ~~84~~ <br />Of reCelpt o~ ~~~ ievenl~e ~~ llleet eert~lll Gul`r~nt a er~t111~ <br />a~ a~tllori~lrl the Mayor aild~al' tale Ontro~ler to ~ua~e te111pQTa1`y loans to ~ <br />11dS of the 1~ i~~ a.~.tic~~~atio~1 of a11d Ilat in excess of cu~~'ent taxes levied i31 the <br />expenses out of vallaus fu ~' _ fui-tller authoi-~~ed the Issuailce o <br />ea.z' ~Oa~ alld colleetibae i1~1 the year Zaa~. ~~•dxnal~ce No. 9~~~ S <br />Y <br />n Tex ~1~tici atioi~ Tinle ~.1-)'ailts to ev~denee swell loans alld the sale of suel~ al~rants; all <br />~eI11pOl a1~ l0 a ~ <br />~~A tll.e i ex~eated that ~ ~eeelllher a, ~Oa~ it ~rau~d have received p~`ope~~.~y tax <br />HH~ ~' 1 <br />' Illikel the ~t X111 receive suf~ie~ent pi-ope' tax ~"~vellueS pr~ol* to Deeen~~ae3 <br />revenues; ~ioevel, It Is u ~ ~ <br />Tax Antiei a.tion Ti111e Warrants issued pu1"u~11t to ~1`dil~ance 9~4~-OS ~ul~icl~ <br />3p, ~~~5 to ~i}pay aff the ~ cl. ~~ ~D~S acid ii 1~leet cu~-re~lt <br />l~tu1'e and are a a.hle ~n full v~lth 111te1'e5 on ~ecellll~ , } ~ ~ <br />tax ~a1 ~ ~.Ilts ~~ ~' <br />f varla~5 fUlld Of tl~e City. ~Y~liS ~1-dina11e0 autholl~es tl~e loa.~7. Of nlanles Iroil~ <br />ope~'a~ing expenses o <br />' ~vzthin the Ci to pay off the Tax Anticipation Tillie arral7ts l~s`~ed pu~'suant t0 <br />vai~ous Funds ~' <br />~rdlrlallce ~s~~-O~; and <br />A the loan of funds ui7der file City's present rl~ncial ci~'cul~lstanCes is ail elllergency <br />~'~ , <br />vin tax revenues levied ~ X07 ~i~d payable 1i1 ZaaS ~vhlch have yet t0 he <br />Caused ~~ tl~ie delay 111 reee ,~ , <br />t s~~ch ii~terfund loans, file City can~lat meet Its o~1go~11 pa~ra~1 and other <br />p~ld to file lty. 1tho1.1 <br />t incu~`riri substantially ~i•eatcr debt. Therefore, due to e1ne~'gel~cy, the <br />oper~tll~~ expense ~lthou ~ b end. Cade 3-~~-4; and <br />re a 111ent oftei~iporaxlly transfel~led finds nlustbe delayed as authorl~e Y <br />{ s fro1~1 ~vh~ch loans are to be ill~de have suf~aient Illonie an deposit ~01nal~e <br />~THI~.~, all. Fund <br />tl~ie tei~lparai-y lawns specif~cd in this Ies~lutian. <br />~~~~ BH IT RE~~VHD by file Col~ll~on Couilcil of file City of auth ~3eil.d, <br />N, T~II~E~ , <br />1.11d1~~1a.; . <br />- of El 11t Million Flgllt H~ladred Fifty one Thousand oll.ars <br />Section I. Tl~e a~g1 egate r~i~ ~ <br />~ araril l~orro~ved frnll~ eealn City funds and loailed to other ity funds s <br />~S,sS~,aaa} shall ~e den p y <br />folla~s: <br />BOrro~~ed Froix~: <br />Heai~h ~ilsura.llee l~'und ~~71 ~} S,a~0,a0a <br />~labxllty Self ~ilsurailee Flil~d ~#Z~~~ ~,~~ I,~aa <br />rainy lay Fund ~~IO~} 1,~Oa,aOa <br />Tate ~8,~ 1,aa0 <br />boa;~cd ".a: <br />~ei~eral Fund ~ ~ a I } ~, ~ a~,~aa <br />Forks and ~ecreatioil Fund ~~.o I ~ x,03 5,aaa <br />Hall of Fame Band Fund ~~~ I ~~ 7 ~ 3,DD0 <br />Total $8,8~,a0~ <br />
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