HomeMy WebLinkAbout1991-04-08 91-148 ORDERCare Anril A`r1991 Item No. 91-148
Itam/Subject Approval of GE Expansion ghEhdery Transfer from General Fund to
Responsible Department?ort Fund
Prt Fun
Commentary:
This action would authorize the transfer of the GE Expansion lease from the
General Fund to the Airport Fund effective April 30, 1991. The City Council
authorized the use of $800,00 from the General Fund for the work on the GE
Expansion Building. Repayment to the General Fund is being made over 20
years through lease Payment from General Electric. This action would transfer
$131,646.82 from CM1e Airport Fund to [M1e general Pund, Yrereby repaying the
General Fund for the Amount due on the contribution, and allow the Airport
FuM to recive the balance of the leases payments.
This item was rewed by the Finance Committee April 1, 1991 which refered
the item to the City Council for action
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Referral
91-148
Mipmd to Couneilmr Feel, April 0, 1991
CITY OF BANGOR
Appm 1 of GE Lease C sfec from General Fund to the Al to art Fund
1.
By the City Caused of the (Fry ofBaapnr.
THAT the Airport Fund transfer to the General Fund the amount of
$731,644.82 as of April 30, 1991 was repayment of the monies authorised
under Couneil order 87-152 for the CE Expansion Building, and
that the general Fund surrender all interest in the lease between the
City of Bangor And the general Electric Company, with all remaining paynent
going to the Airport Fund.
91-148
In City Councll April 8,1991 14tivd to New Business 0 RDE R
TAUol
Title,
4 C Ap 6ai of GE Leese Teansfor from General ll
Ci. er to tM, Airyort. FUM,, ,,, ,, ,,,
In City Camtl1 April 22,1991 ••... ...••••.•.••••..•........... •..•
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