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HomeMy WebLinkAbout2000-11-13 01-25 RESOLVECOUNCILAMON Item W.nr_as bade: November a, 2000 Item/Subject: Resolve, Makie an Appropriabon from BK General Fund's Urdesgnated Fund Balance for the Purpose of Providing a Challenge Grant in Support of Locating the University of Maine Art Museum/visual Arts Center in Downtown ffangor Responsible Department: City CouMl Commentary: The attached Resolve would fund the Cmllenge grant for locating me University, of Maine's Ad Museum in downtown Bangor which appears uMer a separate item on this agenda. Funding would be pmvided from the Cry's undesignated fund balance. This resolve would establish and fund a trust and agency account Por Mb purpose. The funds would only be released once the condbions associatetl with this grant have been met ant the Cornmunity and Economic Dewticpment Committee authorize the disbursal. This Item need only he pissed should the Counol approve the challenge grant. Department Hand Manager's Comments: City Manager Associated Information: Resolve Budget Approval: Finance gredor Legal Approval: Introduced passage X First Reading page_M Referral r X Refeal [O Finance � neaignea to coavicetm- eon November ta, z000 CITY OF BANGOR (TITLE.) Resolve, Making an Appropriation from the General Fund's Undesignated Fund Balance for the Purpose of Providing a Challenge Grant in Support of Locating the University of Maine Art Museum/Visual Arts Center in Downtown Bangor THAT the amount of $400,000 is hereby appropriated from the General Fund's Undesignated Fund Balance for the purpose of providing a challenge grant in support of locating the University of Maine Art Museum/V6ual Arts Center In Downtown Bangor. These funds shall be placed in a Trust and Agency account to be established by the Finance Director and shall be released to the University upon a determination that the conditions associated with this grant have been met and with the approval of the Community and Economic Development Committee. Iff CITY COUNCIL Moveoher 13. 2000 First Heeding Referred to Piamce C ttee CI C EHM SM CITY COOMCIL Movemher 27. 2000 Mating for Passage Made and seconded Passed n am k 01-25 HES w (TITLE,) Mating an nypraprfatfaa from the cameral Pool's Ondesigoated Fwd Balance for the purpose of Proving, a Challenge Grant fo Support of Locating the University of Mafne Art Museum Visual Arts Center in Downtown Bangor 1Ul(A ,