HomeMy WebLinkAbout18734 - RESOLUTIONS - 11/15/1995 RESOLUTION NO. 18734
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING THE BUDG] T FOR
THE 1995-96 FISCAL YEAR.
WHEREAS Resolution 18635, approving the budget for the fiscal year
1995-96 was adopted on June 21, 1.995; and
WHEREAS the City Manager has recommended, and the City Council '
desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director: of Finance is
authorized to record inter-fund cash transfers as required in
accordance with this Resolution, and that Resolution 18635,
adopting the budget for the 1995-•96 fiscal year is hereby amended
as follows:
SECTION 1. ADDITIONS
FUND FAct:vity Account Amount
No. 343 285 $2,000,000
Title:
Golf Course Notes Payable
Purpose: To provide funds for the operation and debt service of the Golf Course ,
Fund with the following terms: principal of $2,000,000, 6% annual interest, 20 year
term, effective date of ll/ l/95, repayment to commence in Fiscal Year 1997-98.
SECTION 2 . SOURCE
General Fund fund balance, .from revenue derived from the sale of land.
FUND Activity Account:. Amount
No. 118 $2,000,000
111
Title:
General Fund Notes Receivable
this 15th day of November , 1.995. '
Adopted _ -
AYES: Members Kleindienst, Lyons and Mayor Maryanov
NOES: Member Reller-Spurgin
ABSENT: Member Hodges
ATTEST: C TY KIP PALM ( N , CALIFORNIA
City Clerk >ty Manages
REVIEWED AND APPROVED AS TO FORM
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