Resolution No. 93-21 e
CITY OF TIGARD,OREGON
RESOLUTION NO. 93- 1`
A RESOLUTION APPROVING A SUPPLEMENTAL BUDGET FOR 1992/93.
WHEREAS,ORS 294.480(1)(a)allows a supplemental budget when conditions exists that were
not known at the time of budget preparation, and EEE
WHEREAS,the beginning balance in the Park Levy fund was greater than anticipated, and
WHEREAS,the significant fall in interest rates making advantageous the early call of bonds and
the sale of refunding bonds was not anticipated, and `!
WHEREAS, both of these conditions meet the requirements for preparation of a supplemental
budget, and,
WHEREAS,in accordance with local budget law,a hearing before the City Council was properly
advellised and "Gid.
NOW,THEREFORE, BE IT RESOLVED by the Tigard City Council that:
Section 1: Resources shall be recognized as follows:
Park Levy Fund increase in beginning balance: $165,600
Debt Service-proceeds from refunding bonds: $7,700,000
Debt Service-early assessment payments $285,000
Section 2: The following appropriations are approved:
Park Levy Fund-CIP $165,600
Debt Service- Refunding $7,700,000
Debt Service-Early Calls $285,000
PASSED: This l/ ' day of 1993.
ayor- City of Tigard
ATTEST:
City Recorder- City of Tigar& 1
RESOLUTION NO. 93— C�!
Page 1