92-065
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RESOLUTION NO. 65-92
A RESOLUTION AMENDING THE 1992 CAPITAL
IMPROVEMENT BUDGET. SILVERWOOD PARK
WHEREAS, Resolution 39-92 established the 1992 Silverwood Park Project Budget
at $55,200 and 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 sufficient 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"; and
WHEREAS, increased quantities of top soil removal has raised the project budget
to $63,500; and
WHEREAS, current projections show a year end surplus in the Park Fund at the
current project budget expense of $55,200; and
WHEREAS, Park Fund revenue is not likely to be sufficient for said amended budget
in 1992.
NOW THEREFORE BE IT RESOLVED that the 1992 Silverwood Park Excavation
and Grading Project budget is increased from $55,200 to $63,500.
BE IT FURTHER RESOLVED that any expenditures in excess of Park Fund
revenues in 1992 City General Funds will be utilized until Park Fund revenues are sufficient
to repay the General Fund.
BE IT FINALLY RESOLVED that upon using the General Fund for said purpose,
no other expenditures may be made from the Park Fund until the General Fund has been
reimbursed in full.
ADOPTED BY THE CIlY COUNCIL OF THE CIlY OF SHOREWOOD this 13th day of
July, 1992.
J mes C. Hunn
ity Administrator