HomeMy WebLinkAboutDocumentation_Special Meeting_Tab 16_12/08/2005VILLAGE OF TEQUESTA
MEETING AGENDA ROUTING SHEET
MEETING DATE: December 8, 2005
AMENDED MEETING DATE:
SUBJECT: Increase budget in Water Utility Fund 401 -Martin Cry/Tropic
Vista, allowing revenue received from Martin County/Tropic Vista subdivision to be
used to pay interest and principal on 2004 Bank of American Note Payable incurred to
finance the expansion of the existing water service to Tropic Vista residents.
COVER MEMO ATTACHED:
RESOLUTION OR ORDINANCE NUMBER: 1~-g ~7-CSs,~~o
ORIGINATING DEPARTMENT: Finance
DEPARTMENT HEAD APPROVAL ~ _ ~ ~~ ~`~
FUNDING SOURCE: 2005/2006 BUDGET
ACCOUNT NUMBER: Rev - 401-D00-363.101 - Interlocal Martin Cty/Tropic Vista
Exp - 401-700-571.705 - Prin - 2004 B.O.A Note Payable
Exp - 401-700-572.705-Int - 2004 B.O.A Note Payable
AMOUNT OF THIS ITEM: Can not project prepayments
APPROPRIATE FUND BALANCE (Y/N): No
AMOUNT: N/A
(PIGGYBACK CONTRACT NAME AND #
OR
COMPETITIVE BID FOR ANYTHING OVER $10,000 -ATTACH 3 BIDS)
APPROVALS:
FINANCE DIRECTO
VILLAGE MANAGE
VILLAGE ATTORNEY (if Needed) Yes No
PLEASE RETURN TO VILLAGE CLERK TO PLACE ON THE AGENDA
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RESOLUTION NO 37-05/06.
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA,
PALM BEACH COUNTY, FLORIDA, AMENDING AND INCREASING THE WATER
UTILITY FUND #401 ANNUAL BUDGET BY INCREASING REVENUES IN ACCOUNT
#401-000-363-101 IN THE AMOUNT RECEIVED FROM MARTIN COUNTY FRaM
TROPIC VISTA RESIDENTS AND INCREASING DEBT SERVICE PAYMENTS IN
ACCOUNTS #401-700-571.705 PRINCIPAL-2004 B.O.A. NOTES PAYABLE AND
#401-700-581.705 INTEREST-2004 B.O.A. NOTES PARABLE.
WHEREAS, the Village of Tequesta, through an interlocal
agreement with Martin County, receives revenue from Tropic
Vista residents to pay for debt incurred to construct water
lines and expand the existing water service to residents in
the Topic Vista subdivision and that revenue. has not been
budgeted and,
WHEREAS, The Village of Tequesta would like to spend this
additional revenue for the purpose of paying the related debt
service and;
WHEREAS, approving this resolution will increase the Water
Utility Fund #401 annual budget and;
WHEREAS, approving this resolution will NOT affect Fund
Balance,
• NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1. The amendment to the annual Water Utility Fund #401
budget increasing budgeted revenues and expenditures as stated above
is hereby approved.
THE FOREGOING RESOLUTION WAS OFFERED by Councilmember, who moved its
adoption. The motion was seconded by Councilmember, and upon being
put to a vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
• The Mayor thereupon declared the Resolution duly passed and adopted this
8TH day of December 2005
MAYOR OF TEQUESTA
Jim Humpage
ATTEST
Gwen Carlisle
Village Clerk
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