Explanation
Background: This ordinance authorizes the transfer of monies between projects within the Information Services Bond Fund, the Storm Sewer Bond Fund, the 1991 Sanitary Sewer Voted Bond Fund, and the 1995, 1999 Voted Streets and Highways Capital Fund. This will align the funds issued in the 2004 bond sale with prior certifications against the Special Income Tax Fund (SIT) and Reserve Funds. The City Auditor's Office requested this transfer of monies. The 2004 CIB is amended accordingly.
Emergency action: This ordinance is submitted as an emergency so as 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.
Fiscal impact: This legislation will align the monies issued in the 2004 bond sale with prior certifications against the SIT Fund and Reserve Funds.
Title
To authorize the transfer of monies between projects within the Information Services Bond Fund, the Storm Sewer Bond Fund, the1991 Sanitary Sewer Voted Bond Fund, and the 1995, 1999 Voted Streets and Highways Capital Fund. To align the funds issued in the 2004 bond sale with prior certifications against the Special Income Tax Fund (SIT) and Reserve Funds; to amend the 2004 Capital Improvements Budget (CIB); and to declare an emergency. ($1,043,506.76)
Body
WHEREAS, it is necessary to align the monies issued in the 2004 bond sale with prior certifications against the Special Income Tax Fund (SIT) and Reserve Funds; and
WHEREAS, a transfer of monies within the Information Services Bond Fund, the Storm Sewer Bond Fund, the 1991 Sanitary Sewer Voted Bond Fund, and the 1995, 1999 Voted Streets and Highways Capital Fund is required; and
WHEREAS, the 2004 Capital Improvements Budget (CIB) is hereby amended to reflect the abovementioned transfers,
BE IT ORDANIED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the ...
Click here for full text