RESOLUTION NO. 2015-URA-02

A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET FOR FISCAL YEAR 2014-15 FOR WATERFRONT URBAN RENEWAL DISTRICT LEGAL FEES AND REQUIRED SUPPLEMENTAL DEBT PAYMENT


WHEREAS, ORS 294.471(1)(a) allows the governing body of a municipal corporation to make one or more supplemental budgets if an occurrence or condition that is not ascertained when preparing the original budget or a previous supplemental budget for the current year or current budget period requires a change in financial planning; and

WHEREAS, if amended estimated expenditures differ by more than 10 percent from the expenditures in the budget as most recently amended prior to the supplemental budget, ORS 294.473(1)(c) states that, after a public hearing, additional expenditures contained in the supplemental budget may not be made unless the governing body of the municipal corporation enacts appropriation ordinances or resolutions authorizing the expenditures; and

 

WHEREAS, the Hood River Urban Renewal Agency wishes to appropriate funds for unanticipated legal fees and for required supplemental debt payments for which amount was unknown.

NOW, THEREFORE, BE IT RESOLVED, after completion of a public hearing, by and through the Urban Renewal Agency Board meeting in regular session, Hood River Urban Renewal Agency Board hereby adopts the following supplemental budget, makes appropriations, and adjusts the fiscal year 2014-15 adopted budget as follows:

WATERFRONT PLAN FUND

Budget Category Adopted
Budget Increase / (Decrease) Revised Budget
Resources:
    Beginning Fund Balance 
$   19,500    
$      1,500     
$   21,000     
    Property Taxes – Current 200,000 35,000 234,000
     Total – Resources  36,500 
Expenditures:        
     Materials & Services *   37,500 35,000 72,500
     Debt Service * 161,738 21,000  182,738
     Contingency * 19,500 (19,500) -  0 -
     Total – Expenditures    36,500 
   
Net Budget Adjustment  $        - 0 - 
   
* Appropriation Level
 
Approved by the Urban Renewal Agency of the City of Hood River on this 9th day of March, 2015, to take effect immediately.


       ___________________________
       Paul Blackburn, ViceChair


_____________________________________
Steve Wheeler, Urban Renewal Administrator