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MEMo
DATE: DECEMBER 1, 2Q04
TO: T�� MAYOR AND MEMBERS OF COUNCIL
THRU: MICHt1EL R. COUZZO, JR., VILLAGE MANAGER
FROM: GWEN CARLISLE, VILLIIGE CLERK
RE: AGENDA ITEM: 12/09/04 VIT..I.�1GE COUNCIL REGULAR MEETING
AGENDA PACKET – RESOLUTION 25-04JQ5
At the request of Councit at the November 1$, 2004 Regular Council Meeting, it was agreed
to dra.ft a Resolu�ian adop�g a Vitiage policy esta.biishing a gaat o€ undesignated reserves in
the atnount af 15% of the �illage's Annual General Fund �perating Budget.
Attached for pour consideration and approval is Resolution 25-04f tI5 adopting a Viiiage
policy for undesignated reserves in the amount of 15°l0 of th� Viltage's Arinu�.l Ge�eral Fund
�perating Budget for unfc�reseen emergency situatic�ns and for e�penses to be made fc�r the
oti erall go�d arld �velfare of the Villa.ge,
RESOLUTION NO. 25-04/05
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, ADOPTING A VILLAGE POLICY REGARDING
UNDESIGNATED RESERVES AND ESTABLISHING A
GOAL FOR VILLAGE OF TEQUESTA'S UNDESIGNAGED
RESERVES IN THE AMOUNT OF 15% OF THE VILLAGE'S
ANNUAL GENERAL FUND OPERATING BUDGET FOR
RELIEF IN UNFORESEEN EMERGENCY SITUATIONS;
AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the Village Council of the Village of Tequesta deems it appropriate and
necessary to establish undesignated reserves; and
WHEREAS, the Village of Tequesta will have undesignated reserves appropriated for
unforeseen emergency situations, and for expenses to be made for the overall good and welfare
of the Village of Tequesta, and
NOW THEREFORE, be it resolved by the Village Council of the Village of
Tequesta, Florida:
Section 1. The Village Council of the Village of Tequesta hereby adopts a policy
establishing a goal of undesignated reserves in the amount of 15% of the Village's annual
General Fund Operating Budget for unforeseen emergency situations and for expenses for the
overall good and welfare the Village of Tequesta.
Section 2. This Resolution shall take effect immediately upon adoprion.
The foregoing Resolution was offered by , who moved its adoption. The
motion was seconded by , and upon being put to vote, the vote was as
follows:
FOR ADOPTION AGAINST ADOPTION
The Mayor thereupon declared the Resolution duly passed and adopted tl�is 9`� day of
December, A.D., 2044.
Pat Watkins, Mayor
ATTEST:
Gwen Carlisle
Village Clerk