HomeMy WebLinkAbout1998-06 Amends Budget - Capital Projects Loan PaymentORDINANCE NO. 6-98
AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING THE
NORTH PALM BEACH CAPITAL PROJECT FUND BUDGET TO APPROPRIATE FUNDS IN
THE AMOUNT OF $545,000 FOR PRINCIPAL AND INTEREST PAYMENT OF CAPITAL
PROJECT LOAN FOR FY 1997-98 AND TRANSFER INTEREST INCOME IN THE AMOUNT
OF $98,000 TO THE GENERAL FUND
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA:
Section 1. Ordinance No. 14-97, the budget ordinance of the Village of North Palm Beach, is
hereby amended as follows:
NORTH PALM BEACH CAPITAL PROJECT FUND:
INCREASE REVENUE:
TITLE
Transfer from General Fund
Interest Earned
Total
INCREASE APPROPRIATION:
TITLE
Principal
Interest
Transfer to General Fund
Total
ACCOUNT NUMBER
K3900-09180
K3100-08200
ACCOUNT NUMBER
K8535-49148
K8535-49149
K5541-49919
$545,000
98 000
$643 000
$300,000
245,000
98.000
$643.000
Section 2. The funds are transferred from 1997-98 General Fund Budget Account
#A8535-49135, (transfer to Capital Project) in the amount of $545,000 for the annual payment of
principal & interest on Capital Project Loan.
Section 3 The funds from Interest Income of Capital Project Fund Loan Proceeds are to
be transferred to General Fund Account # A3100-08210 (Interest Income -Loan). As budgeted.
Section 4 This ordinance shall take effect immediately upon passage.
PLACED ON FIRST READING THIS 12th DAY OF FEBRUARY, 1998.
PLACED ON SECOND READING AND PASSED THIS 26th DAY OF
FEBRUARY, 1998.
MAYOR
r • J
VILLAGE CLERK