Explanation
Background: To authorize the supplemental appropriation in the Sewerage System Operating Fund, fund no. 650 to account for the 2004 debt service payments for sanitary special assessment projects. The 2004 Other Funds Appropriations ordinance (2578-2003) did not include appropriation authority for these special assessment debt service payments to be made in 2004. This ordinance appropriates these monies.
Fiscal Impact: Monies for these payments are backed from assessed property owners and have no fiscal impact to the operating division.
This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City' accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize the supplemental appropriation of $104,139 within the Sewerage System Operating Fund, to allow for 2004 specical assessment debt service payments, an to declare an emergency. ($104,139)
Body
WHEREAS, it is necessary to autorize a supplemental appropriation of 104,139 within the Sewerage System Operating Fund, to allow for the 2004 special assessment debt service payments, and
WHEREAS, the matter herein constitutes an emergency in that it is immediately necessary to appropriate these funds for the immediate preservation of the public health, peace, property, safety and welfare; Now Therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS, OHIO:
SECTION 1. That from the monies in the fund know as sewerage system operating fund, fund no. 650, and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2004, there be and hereby are appropriated as follows:
Division No. 6005 Sewerage and Drainage
Obj Level 04
OL3 4410 Bond Principal $83,161.00
Obj Level 07
OL3 7411 Bond Interest Payments $20,978.00
Total $ 104,139.00
SECTION 2. That for the reasons ...
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