HomeMy WebLinkAboutResolution_55-08_12/11/2008RESOLUTION NO.55-08
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA AUTHORIZING THE CLOSING OF IBR FUND #101
AND AUTHORIZING THE TRANSFER OF ALL REMAINING
ASSETS, LIABILITIES AND EQUITY TO GENERAL FUND #001;
INCREASING THE 2009 GENERAL FUND #001 BUDGET BY
INCREASING REVENUES AND EXPENDITURES BY THE AMOUNT
OF THE TRANSFER; AND PROVIDING FOR AN EFFECTIVE DATE
AND FOR OTHER PURPOSES.
WHEREAS, IBR Fund 101 was created to account for revenues and
expenditures as required the Improvement Revenue Refunding
Bonds, Series 1994 bond covenants, and
WHEREAS, the Improvement Revenue Refunding Bonds, Series
1994 have been refunded, and
WHEREAS, there is no requirement to keep this fund open,
WHEREAS, remaining remaining assets, liabilities and equity will be
transferred to General Fund #001;
WHEREAS, the General Fund #001 2009 budget will be increased by
the amount of $139,490.27 by increasing the following accounts;
Revenues -Transfers-In (001-900-381.101)
Expenditures -Allocate to Fund Balance (001-950-590.001)
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1. The request for authorization to close IBR Fund #101 and transfer
remaining assets, liabilities and equity to General Fund #001 tS APPROVED
Section 1 This Resolution shall become effective immediately upon passage
The foregoing Resolution was offered by Vice-Mayor Turnquest who moved its
adoption. The motion was seconded by Council Member Humpage and upon being put
to a vote, the vote was as follows:
Mayor Pat Watkins
Vice-Mayor Calvin Turnquest
Council Member Vince Arena
Council Member Tom Paterno
Council Member Jim Humpage
For Adoption Against Adoption
X
X
X
X
X
The Mayor thereupon declared the Resolution duly passed and adopted this 11th day of
December, 2008.
MAYOR OF TEQUESTA
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Pat Watkins
ATTEST:
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Lori McWilliams, CMC
Village Clerk
- SEAL. ~`.-~
INCORPORATED
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