HomeMy WebLinkAboutSummary FormDate: 06/26/2008
AGENDA -ITEM SUMMARYM_
rFOR-
FILE ID: Or� bb �If�
RE. 9
Requesting Department: Capital Improvements
Commission Meeting Date: 07/24/2008 District Impacted: ALL
Type: ® Resolution U Ordinance ❑ Emergency Ordinance ❑ Discussion Item D Other
Subject: Resolution amending Capital Projects Appropriations No. 08-0027, adopted January 10, 2008
Purpose of Item:
To appropriate the $27,350,000 Sunshine State Governmental Financing Commission Loan as authorized and
approved per Resolution No. 08-0345 adopted June 12, 2008 and an additional $1,705,857 from General Fund
Contribution. Approval of this item will constitute both an amendment to the Capital Improvements
Appropriations Resolution No. 08-0027, as amended and an update to the 2008 Multi Year Capital Plan per
Resolution No. 08-0368 adopted June 26, 2008.
Background Information:
On June 12, 2008, the City Commission authorized the negotiation, borrowing, and approval of the loan from
the Sunshine State Governmental Financing Commission in the aggregate principal amount of not to exceed
$27,350,000 to continue capital improvement projects for fiscal year 2007-2008. In total, $48,916,500 of
Sunshine State loans have been sought by the City to finance capital projects this fiscal year. Additionally,
General Fund contributions in the amount of $1,705,857 are being appropriated for the purchase of vehicles for
newly hired police officers and PSAs and to increase the construction contract on a Public Works Citywide
Sidewalk repair project. Furthermore $23,000 of General Fund dollars are being deappropriated from capital to
be added to Solid Waste's operating budget for the purchase of several laptop computers. The new
appropriations and revisions constitute an amendment to the Capital Improvements Appropriations Resolution
No. 08-0027, as amended and an update to the 2008 Multi Year Capital Plan approved by Resolution No. 08-
0368.
Budget Impact Analysis
Yes Is this item related to revenue?
No Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
No Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Im act:
C.I.P PPROVAL: Final Approvals
(SIGN AND DATE)
CIP er co41oE' Budget vt D tt
If using or rece
Grants
I ds d �
Purchasing
Chief
UA
Risk Management
Dept. Director
City Manager 1
Page 1 of 1