Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Temporary Appropriation Resolution for Sewer Utility Debt Service
Purpose: Provide funds for the Debt Services of the Sewer Utility for 2015
Funding Source: City of Newark/Sewer Utility
Appropriation Amount: $ 6,518,305.00
Budget Year: 2015
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X ) n/a
Additional Information:
Funds accepted by Resolution # N/A
Operating Agency: Sewer Utility
Two-Thirds vote of full membership required.
body
TAR-#SDS1
WHEREAS, the Local Budget Law (N.J.S.A. 40A:4-19) provides that where any contracts and/or commitment of payments are to be made prior to the final adoption of the budget, temporary appropriations shall be made for the purpose and in the manner and the time provided; and
WHEREAS, this resolution is within the first thirty (30) days of the year 2015; and
WHEREAS, 26.25% of the total appropriation of the 2014 Sewer Utility Budget exclusive of any appropriations made for interest and debt redemption charges, capital improvement fund and public assistance is $6,518,305.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY,THAT:
1. The following temporary appropriation be made and a certified copy of this resolution be transmitted to the Acting Chief Financial Officer for his/her records.
2. The Governing Body by two-thirds vote of its full membership hereby amends its temporary budget by making the following temporary appropriations:
SEWER UTILITY DEBT SERVICE
96520 Principal-Tru...
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