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HomeMy WebLinkAbout2001-02-26 01-127 RESOLVEItem 80,01-:97 Date: 3-I6-01 Item/Subjent: RESOLVE, Authorizing the Transfer of $193,750 from the Pooled Equipment Reserve for the Purchase of Motor Paul Equipment Responsible Department: Finance Commentary: The attached Order would authorize the transfer of $193,750 from the Pooled Equipment Reserve for the purpose of acquiring this years round of vehicles and equipment, per the adopted replacement policy. As you may recall, we had a larger than mected balance in the reserve, and so scaled back that portion of the recent bond issues that was to have funded these acquisitions firm $563,750 to $900,000. The additional $30,000 is alldbunble to the disposition of vehicles which were initially intended to have effecdvely been "netted"against a purchase. Instead, the vehicles were disposed of Independently. Depronent Head Manager's Commends: FNl4. unz-[�Varf4 City Manager Associated Information: Budget Approval: raZe✓;�^a6-YXCar,.-'y..- Vitae-w,/� Qt ' Finance Directs Legal Approval: City Solicitor Introduced for Passage = First Reading Page _ of _ Referral Ja f=� 3-701 Dl -127 urs "signed to fuwcIIox Pelvex Pebxuaxy 26, 2001 CITY OF BANGOR (TITLE.) Resolve,Authorizing the Transfer of $193,750 from for the Purchase of Motor Pool Equipment By fde CHy ClorrMAp F p4 a CRY offtppr.' RE500W WHEREAS, the City Council has previously adopted an equipment replacement policy for the Motor Pool; and WHEREAS, the Council wishes to continue this funding strategy, and WHEREAS, balances in the Pooled Equipment Reserve were substantially in excess of Original projections at fiscal year end 2000; and WHEREAS, as a result, the bond proceeds necessary to replace equipment during FY2001 Is not as great as originally planned; and WHEREAS, the Council wishes to fund this year's purchases with a combination of bond proceeds and excess Pooled Equipment Reserve balances; NOW, THEREFORE, BE IT RESOLVED BY THE CRY COUNCIL OF THE CRY OF BANGOR, THAT: the Finance Director is authorized to transfer $193,750 from the General Fund4 Pooled Equipment Reserve to the acquisition account In the Capital Fund designated for this purpose. IM CITY C009CIL Pebroary 26, 2001 -Pirst Heading Referred to Pimace Ca®ittee R CL IN CITY COOMCIL March 14, 2001 Motion for Passage Mede and Seconded Passed TY C NMH (TITLE) Antbari7ing the w ... fee of $193,750 fro the Pooled Pulpment Reserve for the Purchase of Motor Pool H9uipment �I ,