HomeMy WebLinkAboutR-07-0301City of Miami
Legislation
Resolution: R-07-0301
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00699 Final Action Date: 6/12/2007
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 SERVICE, TO ADJUST
ACTUAL EXPENDITURES FOR THE YEAR AS A RESULT OF INCREASED
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") Closed Out 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 Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
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}
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 File Id: 07-00699 (Version: 1) Printed On: 3/30/2017