Item Coversheet
Commission Agenda Item
 

MEETING DATE:  2/11/2019

SUBJECT:  Resolution 19-04: A Resolution of the City of Alachua, Florida; Amending the Fiscal Year 2018-2019 budget to account for revenues and expenditures related to the $4,500,000 Capital Improvement Revenue Note, Series 2019; Providing an effective date.

PREPARED BY:  Robert A. Bonetti, Finance & Administrative Services Director

RECOMMENDED ACTION:

Adopt Resolution 19-04.

 

Summary

On January 14, 2019, the City Commission adopted Resolution 19-03 authorizing the issuance of the $4,500,000 Capital Improvement Revenue Note, Series 2019 (Series 2019 Note) to fund infrastructure projects related to:

 

1)  Alachua East Wastewater Collection Infrastructure Improvement Area;

2)  Alachua West Wastewater Collection Infrastructure Improvement Area; and,

3)  Alachua West Water Distribution Infrastructure Improvement Area.

 

On January 22, 2019, the closing transaction for the Series 2019 Note was completed.

 

Resolution 19-04 provides for the necessary budget transaction to utilize Series 2019 Note proceeds (inclusive of any interest earnings) for the Infrastructure Improvement Area projects.

 

 

 
FINANCIAL IMPACT: Yes
BUDGETED: No
AMOUNT:  $4,515,000.00
FUNDING SOURCE:  Water Fund, Waste Water Fund
 
COMMISSION GOALS:
Economic Development, Quality of Life, Community Enhancement, Strengthen Community Services

 
ATTACHMENTS:
Description
Resolution 19-04
Resolution 19-04 Exhibit A
SIGNED