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( PROPOSED RESOLUTION ) <br />A RESOLUTION TO CLARIFY THE AMBIGUITY OF RESOLUTION <br />NO. 76-6 -134 AS TO THE APPROPRIATION OF THE 7TH <br />ENTITLEMENT REVENUE SHARING ALLOCATION. <br />WHEREAS: The City Council has previously appropriated its 7th entitle- <br />ment Revenue Sharing monies by Resolution No. 76 -6 -134, and <br />WHEREAS: The prior resolution is ambiguous as to the specific purposes <br />of the use of these monies, and <br />WHEREAS: It is the intent of the City Council to clarify the intent of <br />Resolution No. 76 -6 -134, but not to change or in any way alter <br />the intended purposes of the 7th entitlement Revenue Sharing <br />monies. <br />The 7th entitlement revenue sharing monies are specifically <br />appropriated to be transferred to the following City funds <br />for the following purposes: <br />FUND PURPOSE AMOUNT <br />Capital Improvement Parking Lot & Garage $ 12,555.31 <br />Capital Imppovement City Center $ 1,562.69 <br />$ 14,118.00 <br />BE IT FURTHER RESOLVED: <br />The $1,562.69 transfer for the City Center represents the <br />final amount required to finance the construction of the new <br />City Center and that total construction costs were $162,176 <br />of which $29,868. or 18% was financed by Revenue Sharing <br />appropriations. <br />BE IT FURTHER RESOLVED: <br />The $12,555.31 transfer for the Parking Lot and Garage repre- <br />sents partial financing of these projects and that it is the <br />desire and intent of the City Council not to exceed 24 1/2% <br />Revenue Sharing financing of these projects in order that the <br />City not incurr the additional administrative costs of the <br />various Federal requirements. Should the total costs of these <br />projects be such that the amount so transferred exceeds 24 1/2 %, <br />that excess will be reimbursed back to the Revenue Sharing <br />Trust Fund. <br />iR <br />