HomeMy WebLinkAbout02-020 AGENDA BILL
~.~ ~ ~, · BREMERTON CITY COUNCIL
1. SUBJECT: - I ,
. ~E.&OLUTioN i40. c~,,- - , FOR AGENDA OF:
AUTHORIZING AN INTERFUND LOAN FROM THE ORIGINATING DEPT: - ~,~
EQUIPMENT RENTAL FUND TO THE CONVENTION ORIGINATOR: R. Hera ~/''''-~
CENTER FUND ^,~%'D ,~..~',..ATr'D D'JDCST ~.DJ'J~_T.~.'~E~.~T, DATE SUBMITTED: Jan. 8,~2002
2. CLEARANCES: Comment of bac~,,if necessary) 3. EXHIBITS:
Dir. Admin. Serv.~ Budget Adjustment Request 2002 #1
Fiscal & Budget ~,~ ~ ~
Operations ~ ~.
ENDORS~~N APPROVED BY COUNCIL PRESIDENT FOR SUBMITTAL:
MAYOR~'~-~,z~,. ~~ ,f~ - COUNCIL PRESIDENT ~.~z~ ~
4. SUMMARY STATEMENT AND REQUIREMENT FOR COUNCIL ACTION:
The t~eese~ resolutio_rL~,ill provide intedm funding for the initial work on the Convention Center and related
improvements. The b~l~w/ing authority will be used on an "as needed basis" and will be dependent on the timing of
the project. The proposed budget adjustment will provide expenditure authority necessary to issue the loan and for
the use of loan proceeds on the convention center project.
8. RECOMMI~NDATION:
2..Metie~to approve Budget Adjustment 2002 #1.
9. RESPONSIBLE OFFICIAL: Treasurer
ENFORCEMENT OFFICIAL: Ma,/or
EXPIRATION DATE: 06/30/2003
REVIEW DATE: N/A
f0. NOTICE OF ACTION
PULLED__ TABLED__ APPROVED ~ DISAPPROVED __AMENDED __
COUNCIL DIRECTIVE:
11. AGENDA BILL NO:
2. CLEARANCE COMMENTS:
5. IMPACT ON NON-PASSAGE:
The City will lack working capital and expenditure authority with which to begin the convention center project.
6. IMPACT ON STAFFING~ BUDGETS~ FACILITIES~ EQUIPMENT OR OTHER RESOURCES:
Increases current year expenditure authority for the project with loan payments to be made in future years.
7. RESEARCH SOURCES:
Staff analysis.