HomeMy WebLinkAbout1993-05-10 93-253 ORDER3-253
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OBDBB - Directing Proposed Charter Amendment to be Submitted'
to the voters.
RttpC.,,ble oapanmane: City Clerk
ffie City Clerk 3a hereby authorized and directed to take all ntcemnary
action to cause the proposed amendment Article VI Business And Plosiclat.
Provision hereto to be submitted, to the voters at,a Special or &egylar
Municipal Election.
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93-253
Assigned to Councilor Stone, May 10, 1993
CITY OF BANGOR
(RUE.) (01bims_ --Directing. P.ropo,e d Charter Amendment to be Submitted
to the
BY FM City ow Of City of Smaller:
ORDERED,
MT the City Clerk is. hereby authorized and directed to take all
necessary action to cause the proposed amendment Article VI Business and
Financial Provisions hereto to be submitted to the voters at a Special or
Regular Municipal Election to be held on , and be It
further ORDERED, THAT the City Clerk shall cause the proposed amendment
to be printed, to make copies available to the voters in the Clerk's
office, and to poet the same.
Per 30-A M.R.S.A. Section 2106 (6) a summary of the amendment to be
printed on the ballot follows: _
Amendment of City Charter - Article VI Summary
This amendment will revise the order and Cambering Of sections within the
article so that sections concerning like matters are grouped together and
follow in a logical progression. References to the 6 month interim budget
year in 1982 and the December 1981 budget submission are
e deleted. Subdivides
the budget section into titled subsections fon ease of reading and referencing.,
Moves a section on redesignated fund balance from the budget section to a
stand alone section, and addsnew
sections recognizing the creation and
administration of the Credit reserve fund and Other reserve funds. Adds a
section requiring that unexpended and unencumbered appropriations apse at
year end, and that capital appropriationsunencumbered
lwill lapse if n umbered-O
expended for three years. Residual references to cash surplus are replaced
with references to unanticipated and unappropriated revenues, general fund
undesignated fund balance and/or reserrie
accounts. Subdivides the section
n issuanceCarbonds and notes into titledsubsections. Identifies debt
issuance as general fund, enterprise funds or refunding debt. Continues to
require that general fund debt be issued On the basis of level principal
but on a project by project basis. Authorizes enterprise fund debt repayment
to be scheduled as appropriate for the funding source on a project by project
basis. Finally, authorizes the debt service for refunded debt to be scheduled
to maximize savings given the naturalrepayment schedule, rather than On
level principal.
IN CITY COUNCIL
May 10, 1993
Passed as Amended. Amended
In the space provided the date
November 2, 1993.
ryry C
CI LE
93-253
O RUER
Title,
Oiteetln& PtoPoaed Chatttt Amendmene '
. Vote............ '
to be Submitted to the Voters
t/ p
Councilman