096 of 1999 - Amending Salt Lake City Resolution No. 45 of 19990 99-1
B 99-2
SALT LAKE CITY ORDINANCE
No. 96 of 1999
(Amending Salt Lake City Resolution No. 45 of 1999
which adopted the Budget of the Municipal Building Authority
of Salt Lake City for Fiscal Year 1999-2000)
AN ORDINANCE AMENDING SALT LAKE CITY RESOLUTION NO. 45
OF 1999 WHICH ADOPTED THE BUDGET OF THE MUNICIPAL BUILDING
AUTHORITY OF SALT LAKE CITY, UTAH, FOR THE FISCAL YEAR
BEGINNING JULY 1, 1999 AND ENDING JUNE 30, 2000.
PREAMBLE
On June 8, 1999, the Salt Lake City Council acting as the Board of
Trustees, adopted the budget of the Municipal Building Authority of Salt Lake
City, Utah, including the employment staffing document, for the fiscal year
beginning July 1, 1999 and ending June 30, 2000, in accordance with the
requirements of Section 118, Chapter 6, Title 10 of the Utah Code
Annotated.
The City's Policy and Budget Director, acting as the City's Budget
Officer, prepared and filed with the City Recorder proposed amendments to
said duly adopted budget copies of which are attached hereto, for
consideration by the City Council and inspection by the public.
The City Council fixed a time and place for a public hearing to be held
on November 16, 1999 to consider the attached proposed amendments to
the budget and ordered notice thereof be published as required by law.
Notice of said public hearing to consider the amendments to said
budget was duly published and a public hearing to consider the attached
amendments to said budget was held on November 16, 1999, in accordance
with said notice at which hearing all interested parties for and against the
budget amendment proposals were heard and all comments were duly
considered by the City Council.
All conditions precedent to amend said budget have been
accomplished.
Be it ordained by the City Council of Salt Lake City. Utah. acting in
their capacity as the Board of Trustees of the Municipal Building Authority of
Salt Lake City:
SECTION 1. Purpose. The purpose of this Ordinance is to amend the
budget of the Municipal Building Authority of Salt Lake City as adopted by
Salt Lake City Resolution No. 45 of 1999.
SECTION 2. Adoption of Amendments. The budget amendments
attached hereto and made a part of this Ordinance shall be, and the same
hereby are adopted and incorporated into the budget of the Municipal
Building Authority of Salt Lake City, Utah for the fiscal year beginning July 1,
1999 and ending June 30, 2000, in accordance with the requirements of
Section 128, Chapter 6, Title 10, of the Utah Code Annotated.
SECTION 3. Certification to Utah State Auditor. The City's Policy
and Budget Director, acting as the City's Budget Officer, is authorized and
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directed to certify and file a copy of said budget amendments with the Utah
State Auditor.
SECTION 4. Filing of copies of the Budget Amendments. The said
Budget Officer is authorized and directed to certify and file a copy of said
budget amendments in the office of said Budget Officer and in the office of
the City Recorder which amendments shall be available for public inspection.
SECTION 5. Effective Date. This Ordinance shall take effect on its
first publication.
Passed by the City Council of Salt Lake City, Utah, this 16th day of
November , 1999.
ATTEST:
CHIEF DEPUTY CI Y ' ECORDER
Transmitted to the Mayor on November 16, 1999
Mayor's Action: xxx Approved
Vetoed
MAYOR
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ATTEST:
CHIEF DEPUTY CITY R
DER
1999.
24, 1999 .
G:\ordma99\Amending mba budget 11-16.doc
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TO: City Council
FROM: Steve Fawcett
DATE: November16, 1999
RE: Budget Amendment Number 2, Municipal Building Authority
Budget amendment #2 is attached for your review. This amendment
appropriates funds from the MBA Series 1999A and 1999B bond issues.
Issues in Budget Amendment - November 1999
1. Debt Service $1,234,333
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Issue Request #1 — Debt Service
MBA Fund
MBA Fund - Debt Service $1,234,333
This amendment will appropriate the bond proceeds necessary to pay the
debt service and trustee fees on the 1999A and 1999B bond issues. The total
amount to be allocated is $1,234,333, pending final determination for the `99B
series. The amount listed for the MBA Series `99B is preliminary, but final
numbers will be available before the City Council would have to approve the
amendment on November 16th, 1999.
Fund
Department/Category
Decrease
Increase
MBA Fund
Revenue (R)
$1,234,333
Series `99A Debt Service -Interest Expense (E)
$541,292
Series `99A Trustee Fees (E)
$3,100
Series `99B Debt Service -Interest Expense (E)
$684,441
Series `99B Trustee Fees (E)
$5,500
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