HomeMy WebLinkAbout1986-06-09 86-244 ORDER86-299
Introduced by Councilor Tilley dune 9, 1986
CITY OF BANGOR
(TITLE.) tII Ogra Establishing Enterprise Fnad for Parking
By the City Comoit of the city ofBntyor:
ORDERED.
SHUT the Finance miector is hereby directed to create an "Cnterprise
Foody for parking related revenues Bud expenses:
and Be It Further Ordered,
That any year in which revenues
exceed expenditures in the Parkinenter-
prior food. such a shall be account in an t to be entitled,
"Reserve -Parking Development Fwd." a definition of which is attached
hereto.
Statement of Pact: Me final Parking Study Rep Ott suggests the Creation of
an independent set of accounts for recording parking related revenues
and operating expenses.The report also suggests the development of a
"Parking Development Fund", which could either be used to food construction
projects, purchase parking related equipment, or to be a reserve for
operating deficits.
66494
Reserve - Parking Development Fwd (
Definition and Purpose: The Reserve - Parking Development Fwd is
hereby establlebed for the purpose of receiving uvenues in excess
of
operating expenses from the Parking Enterprise .Rend. Me purposeof
this is to provide a source of funds for construction of parking facilities,
purchase of parking related equipment ax in the event of a revenue short-
fall to fund operating deficits.
Procedures and Limits: The Reserve - Parking Developemeat Fund will
only be used at the direction of the City Council for me or
e of
the proposed u stated above. Vie Rea will be funded annually
by taking the x of operating expanses from the Park-
ing Enterprise Punt and crediting s me to the Reserve. No limit is
currently placed on the level in this Reserve.
In City Cconcil Tore 8;1986
re{ered to finance C msfttee
consider next meting;
Cit Clerk Cow
IN CITY COUNCIL
Iona 23, 1966
Passed
CI LEA%
Bb -344
ORDER
Title,
Establishing Enterprise fund for Parking
..................... 4................
Introduced and filed by •+ �_
c+KT 4
Kti�' W
- C uncilman