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<br />227. <br />Exhibit A <br /> <br />City of San Marcos <br />Fiscal Year 1999/2000 <br />Budget Amendment <br /> <br /> <br />Approved by Ordinance No. <br /> <br />Fund <br /> <br />Account Name <br /> <br />Current <br />BudqeUBalance <br /> <br />Affect of this <br />Action <br /> <br />Amended <br />BudqeUBalance <br /> <br />San Marcos Electric Utility <br />650.000.35100.0000.00000 Fund Balance 5,956,695 (350,000) 5,606,695 <br />General Capital Improvements Fund <br />420.521.72050.2000.00000 Downtown Street Repairs 1,475,864 350,000 1,825,864 <br /> <br />Description: <br /> <br />This budget amendment will provide the interim funds needed for the Reimbursement Resolution related to the Downtown <br />Streetscape Improvements Project. As you recall, we were short of funds needed for the Downtown Streetscape <br />lrovements Project by $350,000. We issued Certificate of Obligations for $1,500,000 and the bids came in at <br />850,000. We are allowed by Federal law to issue tax-exempt debt at a later date to make up for the shortfall so long as <br />~lIe adopt a resolution stating our intent to do so. Our intent is to issue another $350,000 of tax-exempt debt to replenish the <br />funds borrowed from the Electric Utility Fund. <br />