Title
To authorize and direct the City Auditor to appropriate and transfer $842,415.00 from the Special Income Tax Fund to Safety Bond Fund; to transfer said funds to the General Government Grant Fund to provide grant matching funds for the purchase of self contained breathing apparatus; to amend the 2003 Capital Improvement Budget, and to declare an emergency. ($842,415.00)
Explanation
BACKGROUND This ordinance authorizes and directs the City Auditor to appropriate and transfer $842,415.00 from the Special Income Tax Fund to the Safety Bond Fund. Said funds will then be transferred from the Safety Bond Fund to the General Government Grant Fund to provide grant matching funds for the Division of Fire's grant award from FEMA for the purchase of self contained breathing apparatus. Ordinance 2698-2003 passed 12/15/2003 accepted the grant from FEMA in the amount of $750,000. This ordinance also amends the CIB.
Bid Information: N/A
Contract Compliance: N/A
Emergency Designation: This legislation is to be considered an emergency measure since it is imperative that grant matching funds be provided in the General Government Grant Fund in a timely fashion in adherence to the grant provisions.
FISCAL IMPACT: This transfer amount of $842,415 is part of the recommended 2004-2009 recommended CIP. This transfer from the special income tax is only a temporary measure until bonds are sold in 2004, at which time the SIT will be reimbursed for this transaction.
.Body
WHEREAS, funds are needed to accommodate a grant match for a grant award from FEMA for the Fire Division to purchase self contained breathing apparatus; and
WHEREAS, these funds need to be appropriated and transferred from the Special Income Tax Fund to the Safety Bond Fund, and from the Safety Bond fund to the General Government Grant Fund; and
WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund; and
WHEREAS, this trans...
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