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HomeMy WebLinkAbout1996-047 Appropriation of funds ORDINANCE NO. 96- 47 AN ORDINANCE amending the 1996 budget for the City of Yakima, and making an appropriation of $30,000 in the Parking and Business Improvement Area (PBIA) Fund for expenditure during 1996 to provide for lighting and signage improvements, and development and marketing for the PBIA. WHEREAS, the amount of $30,000 must be appropriated within the Parking and Business Improvement Area Fund in order to provide for lighting and signage, and development and marketing for the PBIA, and WHEREAS, at the time of the adoption of the 1996 budget it could not reasonably have been foreseen that the appropriation provided for by this ordinance would be required, and the City Council finds that an emergency exists of the type contemplated by RCW 35.33 091 and that it is in the best interests of the City to make the appropriation herein provided, now, therefore, 4 1 BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. The amount of $30,000 is hereby appropriated from the Unappropriated Fund Balance in the Parking and Business Improvement Area Fund to account number 1614- 161 - 612 -0000 -573 90-410 as a 1996 appropriation Section 2. This ordinance is one making an appropriation and shall take effect immediately upon its passage, approval and publication as provided by law and by the City Charter PASSED BY THE CITY COUNCIL, signed and approved this 25th day of JUNE , 1996 ATTEST: JOHN PUCCINELLI, ASSISTANT MAYOR frh c_ CITY CLERK First Reading' 06 -04 -96 ip, Publication Date 06 -28 -96 Effective Date 07 -29 -96 cje 5/30/96 BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT ITEM NO. - I FOR MEETING OF: June,. 1996 o1 ITEM TITLE: An ordinance amending the 1996 budget SUBM11 BY: Glenn J Valenzuela, Director, Community & Economic Dev John Hanson, Director Finance Department CONTACT PERSON / TELEPHONE: Cindy Epperson, Finance Department (575 -6070) SUMMARY EXPLANATION: The Parking and Business Improvement Area No 1 (PBIA) was approved by ordinance on May 7, 1996 This PBIA replaces the original PBIA in the downtown area which has been in existence for approximately 20 years. The new PBIA broadens the purposes for expenditure of funds within the boundary The ordinance allows for an annual budget (self - assessed) of $60,000 With the final debt service payment on the original PBIA being paid from the debt service fund, sufficient reserves remain in the PBIA fund to provide for a budget of $60,000 To provide this level of funding, an additional appropriation of $30,000 from the PBIA Fund Reserves is required It is anticipated that $10,000 will be budgeted for lighting and signage improvements within the area The additional $20,000 will be budgeted for Business Improvement Association development and marketing Resolution Ordinances X Contract Other Funding Source. APPROVED FOR SUBMITTAL. Cit Manager STAFF RECOMMENDATION First Reading: Read ordinance by title only June 4, 1996 Second Reading. Pass ordinance after second reading at regularly scheduled Council meeting on June 25, 1996 BOARD RECOMMENDATIONS Downtown Area Redevelopment Committee recommends approval COUNCIL ACTION First reading of Ordinance; second reading scheduled for 6/25/96.