HomeMy WebLinkAbout1983-2712 AMENDING THE 1983 YAKIMA CITY BUDGET ORDINANCE NO. ;27/2..
AN ORDINANCE amending the 1983 Budget for the City of Yakima;
authorizing temporary loans and providing for
their repayment; and appropriating unappropriated
balances in 392 - Cumulative Reserve Fund For
Capital Improvements:.
401 WHEREAS, 199 - Federal Shared. Revenue Fund contains money
derived from Capitol Theatre insurance proceeds, and 142 -
Arterial Street Fund contains money, available for investment
by the loans of that money to various funds of the City as
provided by this ordinance, and
WHEREAS, capital improvements in the City are contemplated
to be performed during the current year for which money must be
made available by the loans, transfers and appropriations pro -
vided by this ordinance, and
WHEREAS, at the time of the adoption of the 1983 budget it
could not reasonably have been foreseen that the appropriations
provided for herein 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
appropriations herein provided, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The total amount of $711,044 is hereby authorized
to be loaned and transferred from 199- Federal Shared Revenue Fund
(Capitol Theatre insurance proceeds) to 392 - Cumulative Reserve
Fund For Capital Improvements for appropriations therein as pro-
vided hereinbelow, with the actual transfer of money pursuant to
this authorization to be made from time to time in such amounts
as may be necessary to pay for street work to be financed by this
loan.
Section 2. The total amount of $366,077 is hereby authorized
• to be loaned and transferred from 142 - Arterial Street Fund to
392 - Cumulative Reserve Fund For Capital Improvements for appro-
priation therein as provided by this ordinance with the actual
transfer of money pursuant to this authorization to be made from
time to time in such amounts as may be necessary to pay for Street
Light Conversion Program work to be financed by this loan.
•
Section 3. The actual total amount of money loaned pursuant
to the authority of this ordinance shall be 'repaid to 199-Federal
Shared Revenue Fund (Capital Theatre insuranceproceeds) from
revenue: to be derived by the 'City during the years 1984, 1985
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and 1986 from federal revenue sharing so that the amount loaned,
together with interest at the rate of 9.percent per annum, is
repaid no later than December 31, 1986.
Section 4. The actual. total amount loaned of the $366,077 .
pursuant to the authority of this ordinance shall be repaid to
142-Arterial Street Fund (1/20 Fuel Tax proceeds) from revenue
to be derived by the City from the Bonneville Power Administration,
through the Pacific Power and Light Company, as funding for the
Street Light Conversion Project. Interest on the loan at 9 per-
41/
cent per ann is to be paid from existing and future balances
in the Cumulative Reserve Fund For Capital Improvements. The
loan and interest is to be repaid no later than March 31, 1984.
Section 5. As the loans and transfers to 392-Cumulative
Reserve Fund For Captial Improvements authorized herein are made,
the unappropriated balances thereby created are hereby appropriated
from.unappropriated balances in 392-Cumulative Reserve Fund For
Capital Improvements to the various accounts and in the various
amounts specified on the attached Schedule I.
Section 6. The Director of Finance is hereby authorized to
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make the transfers as may be necessary from time to time to
accomplish the loans authorized by this ordinance.
Section 7. This ordinance is one making appropriations 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 /
day of 0 , 1983.
1110.
•
1
Mayor
ATTEST:
7 Y a_Az.v.
City c161‹.
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