92-039
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RESOLUTION NO.
39 -92
A RESOLUTION AMENDING RESOLUTION 125-91,
ADOPTING A CAPITAL IMPROVEMENT BUDGET FOR THE YEAR 1992
WHEREAS, with Resolution 125-91 the City Council adopted a
Capital Improvement Budget for the year 1992, which anticipated
funding of $382,750 in park improvements during 1992 to come from
bonds sold as a result of a referendum election; and
WHEREAS, a Park Referendum is not being held in time to
construct said park improvements in 1992; and
WHEREAS, it is anticipated that the Park fund balance will
grow by $26,038 in 1992 from a January 1 balance of $29,162 to a
December 31 balance of $55,200; and
WHEREAS, the Park Commission has recommended that a grading
and excavating project be undertaken in Silverwood Park during
1992.
NOW, THEREFORE BE IT RESOLVED that the 1992 Capital
Improvement Budget is amended as follows:
Budqet as Adopted
Change To
Revenues
Park Referendum
Park Fund
$382,750
-0-
-0-
$55,200
Expenditures
Various Referendum
Improvements
Silverwood Park Grading
and Excavation
$327,550
-0-
$ 55,200
$55,200
BE IT FURTHER RESOLVED that said project budget shall be as
follows:
Engineering and Project Management
Miscellaneous Costs and Contingency
Grading Excavation/Seeding
$ 5,000
5,200
45,000
$55,200
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BE IT FINALLY RESOLVED that should authorized expenditures for
said project occur before anticipated Park fund revenues, the
general funds will be utilized until Park fund revenues are
suff icient to repay the general fund. In such case no other
expenditure may be made from the Park fund until the general fund
has been reimbursed in full.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
SHOREWOOD this 27th day of April ,1992.
mes C. Hurm
ty Administrator