File #: 12-2234    Version: 1 Name: File#12-2234 TAR2-Interest and Debt Redemption Charges
Type: Resolution Status: Adopted
File created: 11/18/2012 In control: Administration
On agenda: 12/19/2012 Final action: 12/19/2012
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 the year 2013 (City-wide) Funding Source: City of Newark Budget Appropriation Amount: $50,237,263.00 Budget Year: 2013 Contract Period: January 1, 2013 to December 31, 2013 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 # Operating Agency: All Departments Two-Thirds vote of full membership required. Invitation: Director of Office of Management & Budget, December 18, 2012
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 the year 2013 (City-wide)
Funding Source: City of Newark Budget
Appropriation Amount: $50,237,263.00
Budget Year: 2013
Contract Period: January 1, 2013 to December 31, 2013
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 #
Operating Agency: All Departments
Two-Thirds vote of full membership required.
Invitation: Director of Office of Management & Budget, December 18, 2012
body

TAR #2

WHEREAS, N.J.S.A. 40A: 4-19 provides that Temporary Appropriations for all Interest and Debt Redemption charges for the year 2013 may be made during December of the pending year and until the Budget is adopted; and

WHEREAS, this Resolution is passed at this meeting to be effective January 1, 2013; and

WHEREAS, 26.25% of the total appropriation in the Budget exclusive of any appropriations made for Debt Service, Capital and Relief Fund Contributions in the 2013 Budget is the sum of $50,237,263.00.

NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:

1. The following temporary appropriations be made, and that a certified copy of this resolution be transmitted to the Chief Financial Officer for his/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 on Qualified Bond Principal $6,215,000.00

95440 Interest on Qualified Bond Principal 10,938,442.00

96670 ECIA...

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