HomeMy WebLinkAbout03-141 AGENDA BILL
,BREMERTON CITY CO.U, NCIL
1. SUBJECT: Approving Amendment to FOR AGENDA OF:
Ordinance No. 48~(~ relating to the ORIGINATING DEPT: Finance Dept.
City of Bremerton Fiscal Year ORIGINATOR: Michael R. Wilson
03 Bui~get. DATE SUBMITTED: June 16, 2003
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2. CLEARANCES: (co~m~e'n~ on back~D_f-.nm-c.e, ssarv~3. E~KHIBITS:
City Attorney ~~t Amendment Ordinance
Director, Finance ' ~~,~4'/ _....~
~Udgre~loF~sna~z'Cl~e~ttee~~
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ENDORSEMENT INFORMATION APPROVED BY COUNCIL PRESIDENT FOR SUBMITTAL:
4. SUMMARY STATEMENT AND REQUIREMENT FOR COUNCIL ACTION:
The CiD] Council of thc City of Bremer~n passed O~dimmce 4837 on December 4, 2002, anthoriz~ng the
formation of Utility Local Improvement District (ULID) No. 2002-01. The City Council passed the Fiscal Year
(FY) 2003 City Budget Ordinance (Ordinance No. 4839) on December 11, 2002. The FY 2003 City Budget
authorized the establishment of a Public Safety Bond Fund to account for and fund the various Public Safety
capital projects and vehicle acquisitions. The City Council approved on January 29, 2003, the issuance of
revenue bonds to finance the construction of the Conference Center Parking facility and Hotel Plaza capital
improvement projects. The City of Bremerton is required to maintain separate accounting for the City's parking
system as a condition of the issuance of revenues for financing the construction of the Conference Center
Parking facility. Upon the formation of local improvement districts, the City is required to maintain sufficient
revenues within an LID guaranty fund to cover bond covenants for the financing of the LID capital project
improvements. The City Council approved on February 26, 2003, documents relating to the City's participation
in the construction and purchase of ownership interest in the Bremerton Government Center. It is a significant
objective of the City of Bremerton to perform certain downtown pedestrian and BTC ingress and egress capital
improvements. The Parks Development Fund has received grant funding in 2003 to perform two Parks capital
improvement projects resulting in the need for a budget amendment. [ I I
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.... ~' '- - Each ofthese actions has an impact on the City ofBremerton's F~--
2003 City Budget resulting in ;he ne~ to amend the Fiscal Year 2003 City Budget document.
8. RECOMMENDATION:
I ... ~o ~lJfove ~le 8![~,:II~U Ol'~lnaflce on iu~t l/;~,,,g: mnvnmng t)rolnance NO. ~-~
B. I move to pass Ordinance No.'rOW~on second reading, amending Ordinance No. 4~ relating to the City
of Bremerton Fiscal Yea~ 2003 Budget.
9. RESPONSIBLE OFFICIAL:
ENFORCEMENT OFFICIAL:
EXPIRATION DATE:
REVIEW DATE:
10. NOTICE OF ACTION
PULLED TABLED APPROVED DISAPPROVED AMENDED
COUNCIL DIRECTIVE: DATE:
11. AGENDA BILL NO:
2. CLEARANCE COMMENTS (cont.):
4. SUMMARY STATEMENT (cont.):
5. IMPACT ON NON-PASSAGE:
This budget amendment is required to comply with the financial and budgetary provisions of previously
adopted ordinances. These previous Council actions, through the adoptions of other ordinances, require the
establishment of funds and appropriation of future funding, thus, necessitating the City Council to amend its
Fiscal Year 2003 City Budget. Failure to not pass this ordinance would result in non-complianec of earlier
approved Council mandates and not allow the City to move forward on the expenditure of funds for certain
capital projects and programs.
6. IMPACT ON STAFFING, BUDGETS, FACILITIES, EQUIPMENT OR OTHER RESOURCES
7. RESEARCH SOURCES