City of Columbus - File #: 0264-2004

• File #: 0264-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/28/2004
• In control: Recreation & Parks Committee
• On agenda: 2/23/2004
• Final action: 2/25/2004
• Title: To authorize the appropriation and transfer of $31,000.00 from the Special Income Tax Fund to the Voted 1995 and 1999 Parks and Recreation Bond Fund, to authorize the expenditure of said funds from the Park and Playground Fund for drainage improvements to Spindler Road Park, and to declare an emergency. ($31,000.00)

Date	Ver.	Action By	Action	Result
2/25/2004	1	CITY CLERK	Attest
2/24/2004	1	MAYOR	Signed
2/23/2004		Columbus City Council	Approved	Pass
2/23/2004	1	COUNCIL PRESIDENT	Signed
2/11/2004	1	Rec & Parks Drafter	Sent to Clerk's Office for Council
2/10/2004	1	Rec & Parks Drafter	Sent for Approval
2/10/2004	1	CITY ATTORNEY	Reviewed and Approved
2/6/2004	1	Auditor Reviewer	Contingent Within
2/6/2004	1	CITY AUDITOR	Reviewed and Approved
2/4/2004	1	Rec & Parks Drafter	Sent for Approval
2/3/2004	1	FINANCE DIRECTOR	Reviewed and Approved
1/30/2004	1	Finance Reviewer	Reviewed and Approved
1/29/2004	1	Rec & Parks Drafter	Sent for Approval
1/29/2004	1	REC & PARKS DIRECTOR	Reviewed and Approved
1/29/2004	1	Rec & Parks Drafter	Sent for Approval

Explanation
Background:
The purpose of this legislation is to authorize the appropriation and transfer of $31,000.00 from the Special Income Tax Fund No. 430 to the Voted 1995 and 1999 Parks and Recreation Bond Fund No. 702; and, to authorize the expenditure of said funds for Drainage Improvements to Spindler Road Park.

Improvements will be made by Columbus Division of Sewers and Drains and payments wil be made using the City Inter-departmental billing process.

This ordinance is submitted as an emergency to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up-to-date financial posting promotes accurate accounting and financial management. Additionally, legislation should be emergency as drainage issues are causing problems with park neighbors.

Fiscal Impact:
The transfer of $31,000.00 from the Special Income Tax Fund to the Voted 1995 and 1999 Parks and Recreation Bond Fund is a temporary measure until the City sells notes or bonds to fund these improvements.

Title

To authorize the appropriation and transfer of $31,000.00 from the Special Income Tax Fund to the Voted 1995 and 1999 Parks and Recreation Bond Fund, to authorize the expenditure of said funds from the Park and Playground Fund for drainage improvements to Spindler Road Park, and to declare an emergency. ($31,000.00)

Body

WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund, and this transfer should be considered as a temporary funding method; and

WHEREAS, the aggregate principal amount of obligations which the City will issue to finance this project is presently expected not to exceed $31,000.00; and

WHEREAS, an emergency exists in the usual daily operation of the Recreation and Parks Department in that it is immediately necessary to appropriate said funds from the Special Income Tax Fund and transfer said funds into the Voted 1995 and 1999 Parks and Recrea...