HomeMy WebLinkAboutItem #28 - First Reading OrdinanceJ-87-413
4/22/87
ORDINANCE NO. —
AN ORDINANCE AMENDING SECTION 1 OF ORDINANCE
NO. 10187, AS AMENDED, ADOPTED
DECEMBER 11, 1986, THE CAPITAL IMPROVEMENT
APPROPRIATIONS ORDINANCE, BY RECLASSIFYING THE
FUNDING SOURCES FOR THE PROJECT ENTITLED
"AFFORDABLE RENTAL HOUSING PROGRAM", PROJECT
321024, BY DECREASING THE EXISTING
APPROPRIATION OF 1976 HOUSING GENERAL
8 7
OBLIGATION BONDS BY THE AMOUNT OF $2,55,
AND BY APPROPRIATING THIS SAME AMOUNT FROM
INTEREST EARNED ON 1976 HOUSING GENERAL
OBLIGATION BONDS; CONTAINING REPEALER
PROVISION AND A SEVERABILITY CLAUSE.
WHEREAS, the City Commission adopted Ordinance No. 10187 on
December 11, 1986, establishing appropriati s for implementation of
Capital Improvements in the City of Mimi`/an
WHEREAS, Ordinance No. 10 �7 Vonfi.rms previous appropriations
_ for the City's Affordable tal housing Program, providing
_ financing in the amount of ,400,000 from 1976 Housing General
Obligation Bonds fc Cap al Improvement Project No. 321014,
"Affordable Rental�Ho
WHEREAS, ,no
between the prod
such b
available in
Program"; and
tsignation was made in allocating such funds
s of the bond issue and interest earned through
unding to cover the aforementioned housing program is
he amount of $5,844,153 from 1976 Housing General
Obligation Bonds, and $2,555,847 from Interest Earned on 1976
Housing General Obligation Bonds;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA: