(A resolution approving a supplemental budget for the Road System Development Charges Fund)
WHEREAS, ORS 294.480 allows the City to adopt a supplemental budget by resolution of the City Council; and
WHEREAS, after the FY 2011/12 budget was adopted, additional funding sources became available for the Road System Development Charges Fund; and
WHEREAS, $3,000,000 from the Statewide Transportation Improvement Program (STIP) may be awarded to the City of Hood River for improvements to County Club Road; and
WHEREAS, $1,000,000 from the Immediate Opportunity Fund (IOF) may be awarded to the City of Hood River for improvements to Country Club Road; and
WHEREAS, the actual beginning fund balance in the Road System Development Charges Fund exceeded budgetary estimates by $48,075
WHEREAS, it is desired to recognize and appropriate these additional resources in this year’s Road System Development Charges Fund budget; and
WHEREAS, the estimated expenditures contained in the supplemental budget differ by more than 10% of the expenditures of the Road System Development Charges Fund; and
WHEREAS, the City published the supplemental budget and provided notice as required by ORS 294.480(4) and held a public hearing on January 23, 2012, to consider the proposed supplemental budget.
NOW, THEREFORE, BE IT RESOLVED by the Hood River City Council that:
A supplemental budget to recognize and appropriate $3,000,000 in STIP and $1,000,000 in IOF funding to Capital Outlay: County Club Road and to recognize and appropriate of $48,075 in additional beginning fund balance to Capital Outlay, Improvements other than Buildings in the Road System Development Charges Fund is adopted.
Approved by the Hood River City Council this 23 day of January, 2012, to take effect immediately.
Arthur Babitz, Mayor
Jennifer Gray, City Recorder