HomeMy WebLinkAbout36-City Administrator
CITY OF SAN BERr()RDINO - REQUEST OR COUNCIL ACTION
From: Shauna Clark, City Administrator
Subject: Resolution authorizing transfer of funds -.
$50,300 from Sewer Line Construction Fund
to Special Assessment Fund for installatioJ
of Chapter 27 fill-in street improvements
throughout the City.
Dept: Administration
Date: May 19, 1992
Synopsis of Previous Council action:
5/18/92 __ Approval of plans and authorization to advertise for bids for the
installation of Chapter 27 fill-in street improvements was continued
to the meeting of June 1, 1992.
Racommended motion:
Adopt resolution.
~1//j1~t/
. Signature
Contect person:
!=lihgun.R r.lark
Phone:
~122
Supponing data attached:
Yes
Ward:
FUNDING REQUIREMENTS:
Amount:
$50,300
Source: (Acct. No.)
251-683-53925
(Acct. Descriotionl
(Special Assessments)
Finance: (}.1.J f)~
Council Notes:
75.0262
Agenda Item No 3(P
CITY, OF SAN BERQRDINO - REQUEST O>>R COUNCIL ACTION
STAFF REPORT
At the meeting of the Mayor and Common Council held May 18, 1992,
approval of plans and authorization to advertise for bids was
requested for the installation of Chapter 27 fill-in street
improvements, per Plan No. 8690. As a result of concerns presented
by the Council, the matter was continued to the meeting of June
1st.
Attached is a resolution authorizing an interfund loan in the
amount of $50,300 from the Sewer Line Construction Fund to the
Special Assessment Fund to fund the up front costs of the Chapter 27
fill-in improvements and should be considered a companion item.
The resolution provides for repayment to the Sewer Line
Construction Fund over a 3 year period at 7%.
This resolution is presented for consideration by the Mayor and
Common Council as a result of an audit exception contained in the
1990-91 audit conducted by the firm of KMPG Peat Marwick. This
type of resolution will be used in the future for all transfers of
money from one fund to another. As a result, reference to the
manner of fund transfers should be omitted from future audits.
It is recommended that the attached resolution be adopted.
75.0264
o
o
1
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING AN
INTERFUND LOAN FROM THE SEWER LINE CONSTRUCTION FUND (245) TO THE
3 SPECIAL ASSESSMENT FUND (251) IN THE AMOUNT OF $50,300 FOR THE
INSTALLATION OF FILL-IN STREET IMPROVEMENTS AT VARIOUS LOCATIONS
4 OUGHOUT THE CITY.
5
6
7
8
9
10
11
RESOLUTION
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1.
The Director of Finance is hereby directed to make
an interfund loan in the amount of $50,300 from the Sewer Line
Construction Fund (245) to the Special Assessment Fund (251) to
rovide for the installation of fill-in street improvements at
arious locations throughout the City in accordance with Plan No.
8690.
12
13
14
15
16
17
18
19
20
21
22
23
24
SECTION 2. The Sewer Line Construction fund will be repaid
ver a period of three years at 7% interest from assessments on the
I HEREBY CERTIFY that the foregoing resolution was duly
dopted by the Mayor and Common Council of the City of San
meeting thereof, held on the
at a
day
, 1992, by the following vote, to wit:
~
NAYS
ABSTAIN
ABSENT
25
26
27
28 /III
PE-LUDLAM
o
o
1 SOLUTION AUTHORIZING AN INTERFUND LOAN FROM 'THE SEWER LINE
CONSTRUCTION FUND (245) TO THE SPECIAL ASSESSMENT FUND (251).
2
3
4
5
6
7
8
9
10
11
12 pproved as to form
nd legal content:
City Clerk
The foregoing resolution is hereby approved this day
f
, 1992.
w. R. Holcomb, Mayor
City of San Bernardino
13
14
15
16 y: ~?~
17 tl
18
19
20
21
22
23
24
25
26
27
28
2