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Legislation
Resolution
File Number: 07-00699
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF FUNDS, IN THE AMOUNT $100,000, FROM
THE COMMUNITY DEVELOPMENT BLOCK GRANT CLOSED OUT FUNDS;
ALLOCATING SAID FUNDS TO SECTION 108 DEBT ET OF�NCREDSEDT
ACTUAL EXPENDITURES FOR THE YEAR AS A RESU
INTEREST PAYMENT ON VARIABLE INTEREST RATE LOANS.
WHEREAS, the Administration is recommending the transfer of funds, in the amount of $100,000,
from the Community Development Block Grant ("CDBG") ClosedQut funds to Section 108 Debt
Service, to adjust actual expenditures for the year as a result of increased interest payment on variable
interest rate loans;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Se Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this
ction.
Section 2. The transfer of funds, in the amount of $100,000, from the CDBG Closed Out funds,
and the allocation of said funds, to Section 108 Debt Service, to adjust actual expenditures for the year
as a result of increased interest payment on variable interest rate loans, is authorized.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{1}
APPROVED AS TO FORM AND CORRECTNESS:
JORG RNANDEZ tfA
CITY -A • "NEY
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City of Miami
Page 1 of 1 Printed Om 5/24/2007