1998-06 Amends Budget - Capital Projects Loan PaymentORDINANCE NO.6-98
AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING THE
• NORTH PALM BEACH CAPTI'AL 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 TI' 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 $545,000
K3100-08200 98 000
$643 000
ACCOUNT NUMBER
K8535-09148 $300,000
K8535-49149 245,000
K5541-49919 98.000
$643.000
Section 2. The funds are transferred from 1997-98 General Fund Budget Account
NA8535-49135, (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 aze to
be transferced to General Fund Account t! 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. \\ `
.v
MAYOR
A ST:
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VILLAGE CLERK