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2021-08 General Fund Budget Amendment for FY 2021 Capital LeasesORDINANCE NO. 2021-08 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING THE ADOPTED GENERAL FUND BUDGET FOR FISCAL YEAR 2021 TO CLASSIFY THE TOTAL AMOUNT FINANCED FOR VILLAGE VEHICLES AS CAPITAL OUTLAY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, during Fiscal Year 2021, the Village Council approved three capital lease programs: a sanitation vehicle, police vehicles, and a fire ladder truck; and WHEREAS, while the Village has budgeted the annual debt services for these leases in the General Fund, the Village Auditor has advised the Village that the total amount financed for the first year of capital leases should be shown in the Fiscal Year 2021 budget as "other financing uses/sources" and capital outlay for financial reporting purposes; and WHEREAS, notwithstanding the lack of any net income effect, because this amendment increases the total amount of the budget, this transfer must be accomplished by ordinance as required by Section 166.241, Florida Statutes; and WHEREAS, the Village Council determines that the adoption of this budget amendment is in the best interests of the residents and citizens of the Village of North Palm Beach. NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA as follows: Section 1. The foregoing recitals are hereby ratified as true and correct and incorporated herein. Section 2. The Village Council hereby amends the adopted Village of North Palm Beach General Fund budget for Fiscal Year 2021 as follows: Budmet Amendment: Fund Account Description Use Source General Fund A4200-09901 Capital Lease $193699815 General Fund A5540-66000 Capital Lease $193699815 Total Section 3. The Mayor and Village Clerk are hereby authorized and directed to execute the budget amendment for and on behalf of the Village of North Palm Beach. Section 4. If any section, paragraph, sentence, clause, phrase or word of this Ordinance is for any reason held by a court of competent jurisdiction to be unconstitutional, inoperative or void, such holding shall not affect the remainder of this Ordinance. Section 5. All ordinances and resolutions, or parts of ordinances and resolutions, in conflict herewith are hereby repealed to the extent of such conflict. Page 1 of 2 Section 6. This Ordinance shall be effective immediately upon adoption. PLACED ON FIRST READING THIS 24TH DAY OF JUNE, 2021. PLACED ON SECOND, FINAL READING AND PASSED THIS 8TH DAY OF JULY, 2021. (Village Seal) ATTEST: VILLAG CL APPROVED AS TO FORM AND LEGAL SUFFICIENCY: VILLAGE ATTORNEY A& s YOR Page 2 of 2