81-03 vRESOLUTION N0. 81-3
A RESOLUTION AUTHORIZING THE TRANSFER OF
MONEY FOR PAYMENT OF FIRE APPARATUS AND
THE BORROWING OF FUNDS FOR REPAYMENT THEREOF
WHEREAS, the City Charter of the City of Atlantic Beach requires
that the City Commission approve all budgetary transfers from one account
to another, and
WHEREAS, the City of Atlantic Beach budgets its purchasing of fire
apparatus and has paid `for same as a budgeted capital expenditure within a
fiscal year, and
WfiEREAS, circumstances have created ,,the need for the purchase of
said apparatus during a fiscal year in which no capital expenditures were
planned, '
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City
of Atlantic Beach that:
SECTION 1. The following transfer be approved in the 1980-81
Budget:
ACCOUNT
01-599-9900 (Unappropriated Cash)
01-522-6401 (Fire Apparatus)
TOTAL
INCREASE DECREASE
$ 51,250
$ 51,250
$ 51,250 $ 51,250
SECTION 2. The_Mayor and the City Treasurer shall, after appro-
priate enabling legislation,'be authorized, and directed to borrow a sum of
money on behalf of the City of Atlantic Beach not to exceed Fifty-one
Thousand Two Hundred and Fifty ($51,250) Dollars from an appropriate lending
institution at an interest rate 'not to exceed Seven and One-half (7%%)
Percent. Said money shall be repayable during a period not to exceed the
next ensuing three (3) fiscal years from 'date of this resolution, and said
repayments shall be from funds allocated;,in the Operating Budget for this
purpose.
SECTION 3. This resolution shall take effect immediately.
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Passed by the City Commission February 9, 1981
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(SEAL "'
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ATTEST:
Adelaide R. Tucker, City Clerk