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
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