Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Temporary Emergency Appropriation
Purpose: To provide funds for all Interest and Debt Redemption Charges for 2012 Calendar Year
Funding Source: City of Newark
Appropriation Amount: $47,493,938.00
Budget Year: 2012
Contract Period: January 1, 2012 through December 31, 2012
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:
Operating Agency: Citywide
Two-Thirds vote of full membership required
Invitation: Director of Management & Budget, January 18, 2012
Body
WHEREAS, N.J.S.A. 40A: 4-19 provides that Temporary Appropriations for all Interest and Debt Redemption charges for the year 2012 may be made during December of the pending year and until the Budget is adopted; and
WHEREAS, this Resolution is passed at this meeting be effective January 1, 2012; and
WHEREAS, 26.25% of the total appropriation in the Budget exclusive of any appropriations made of Debt Service, Capital and Relief fund Contributions in the 2012 Budget in the sum of $132,726,664.00.
WHEREAS, 26.25% of the total appropriation in the Budget exclusive of any appropriations made of Debt Service, Capital and Relief fund Contributions in the 2012 Budget in the sum of $132,726,664.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, that:
1. The following temporary appropriations be mad, and that a certified copy of this resolution be transmitted to the Chief Financial Officer for her records.
2. The Governing Body by a two-third vote of its full membership hereby amends its temporary budget by making the following temporary appropriations:
(1) MUNICIPAL DEBT SERVICE
95430 Payment of Qualifi...
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