HomeMy WebLinkAbout18979 - RESOLUTIONS - 2/19/1997 RESOLUTION NO. 18979
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING THE BUDGET FOR
THE 1996-97 FISCAL YEAR.
WHEREAS Resolution 18840, approving the budget for the fiscal year
1996--97 was adopted on June 19, 1996; 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 18840,
adopting the budget for the 1996-97 fiscal year is hereby amended
as follows:
SECTION 1. ADDITIONS
FUND Activity Account Amount
No. 343 214 $1, 430, 000
Title:
Golf Course Notes Payable
Purpose:To provide funds for the operation and debt service of the
Golf Course Fund. The loan will accrue interest at 6% annually, with an
open-end term and repayment schedule.
SECTION 2 . SOURCE Prior years' accumulated savings on retirement
FUND Activity Account Amount
No. 364 118 $1,430, 000
Title:
PERS Notes Receivable
(Retirement)
' Adopted this _IR11 � day of February 1997.
AYES: Members Barnes, Hodges, Oden, Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CIT OF S IN S ALI.FORNIA
By �-
-�City Clerk City Hager
REVIEWED AND APPROVED AS TO FOPK