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HomeMy WebLinkAbout1989-07-24 89-327 ORDER- Date o"•••,Iv" temple. 89-3N Item/Subject: Authorizing Dtilizativn Of $20.000.00 from the Existing Golf Coulee Reserve Fund - 9-Hole Addition Responsible Department Engineering Commentary: - Virtually all of the work on the expansion of the Golf Course has been completed except for the construction of cart paths, a stormwater detention pond, a fence along the Bass Perk property line, and additional Planting required by BEP. The completion of this necessary work is estimated to oat approximately $20,000.00 more than the original bond issue authoritarian of $650,000.00 for the Golf Course expansion. Fonds for the additional work are available from.that portion of the Golf Course Reserve Bvod which s temporarily transferred in 1907 to permit the beginning of the work prior t0 the Issuance of the bonds. it is proposed to retain $20,000.00 of this Amount, and to return the balance of $7,990.59 to the Golf Course Reserve Fund. The City also originally loaned an additional $57,009.41 from the General Reserve for Future Construction to .also be used for the'.start of the project Prior to the issuance of bonds; this amount is also being returned to the General Reserve Fund. John T. Frawley Managers Comments: Dep.x .,[Wood 7 T,.eue ryun/.v`w wRibc('_ CiryAfenagei Associated Information: Budget Approval: legal Approval: cry Sofidmr Introduced For ®Passage ❑ First Heading Page _0f_ ❑Referral 89-32) Bmngnedto CounCHor Tilley. duly 24, 1989 CITY OF BANGOR (TITLE.) V11rberf Authorizing utilization of $20,000.00 from the gni4tgng Golf Reserve fund - 9 -Bole Expansion .............. _.___ _... .......... _... By the City Consul of City of Beeper. ORDERED, THAT, WHEREAS, the City Council by Council Order 86-425 passed November 24. 1986 authorized an expenditure of $650,000.00 for the construction of a 9 -hale addition to the Bangor Municipal Golf Course, to be included in the 1907 Band Issue; and WHEREAS. said Council Order also authorized the temporary use of $27,990.59 from the Golf Course Reserve Fund prior to the issuance of bonds; and WHEREAS, the construction of said 9 -hole golf course expansion has been substantially completed except for the installation of cart paths, the construction of a stormesatev detention basin, the thstAllatlom66'.a.fence along the Bass Park property line, and additional fall planting required by the Department of Environmental Protection( and WHEREAS, said additional work is estimated to cost $20,000.00 more than the original band issue authorization of $650.000.00{ NOW, THEREFORE, Be It ORDERED. THAT the am of Twenty Thousand Dollars ($20,000.00) be authorized from the monies previously transferred from the Golf Course Reserve fund to complete the remaining work, with the balance of $7,990.59 to hereturned to the Golf Course Reserve fund. In City Cuncil July 24.1989x. Passed City Clerk 89-32] 0R➢ER Tu rizing Utilization of $26.000.00 .Frao.the.Existiuq Golf .Pasecm Sud.. 9 Hole Fzpan Ae®pud m ....................... .. ....... coMcilman