Resolution No. 10-34 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 10- E) 4
A RESOLUTION TO ADOPT THE FY 2010 SUPPLEMENTAL BUDGET, AND RECOGNIZE THE
$3,250,000 IN BOND FINANCING FOR THE PACIFIC HIGHWAY/GREENBURG ROAD/MAIN
STREET INTERSECTION CAPITAL IMPROVEMENT PROJECT.
WHEREAS, the Pacific Highway/Greenburg Road/Main Street Intersection project is funded by the City Gas
Tax Fund;and
WHEREAS, additional financing is required due to the acceleration of the project to coincide with the Pacific
Highway/Hall Boulevard project that is managed by Washington County;and
WHEREAS,additional bond financing has been obtt-tined in the amount of$3,250,000 for the project;and
WHEREAS, the City appropriates the $3,250,000 bond proceeds in the City Gas Tax Fund, Capital
Improvement Program.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: The FY 2009-10 Budget is hereby amended as detailed in Attachment A-Supplemental
Budget.
SECTION 2; This resolution is effective immediately upon passage.
PASSED: This n� —day of 2010.
ayor- City of Tigard
ATTEST:
City Recorder- City of Tigard
RESOLUTION NO. 10 -?,) 1
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Fiscal Year 2009-10 Budget
Supplemental Budget#10-04
CIP: Pacific Highway/Greenberg Road/Main Street Intersection
Recognition of bond proceeds in the amount of$3,250,000 to be
added to the City Gas Tax Fund,Capital Improvement Program.
Revised Revised
Budget Amendment Budget
City Gas Tax Fund
Resources
Beginning Fund Balance $ 777,185 $ 777,185
Property Taxes $ - $ -
Grants $ $
Interagency Revenues $ - $ -
Fees&Charges $ 650,000 5 650,000
Fines and Forfeitures $ - S -
Franchise Fees $ - $
Interest Ind Rental Earnings $ 7,217 $ 7,217
Bond/Note Proceeds $ - $ 3,250,000 $ 3,250,000
Other Revenues $ - $
Indirect Charges $ - $ -
Transfers In from Other Funds -
Total Resources $ 1,434,402 $ 3,250,000 $ 4,684,402
Requirements
Program Expenditures Total $ - $ - $ -
Capital Projects $ 620,000 $ 3,250,000 S 3,870,000
Contingency $ 109,412 S 109,412
Total Budget $ 729,412 $ 3,250,000 $ 3,979,412
Ending Fund Balance $ 704,990 $ 704,990
Total Requirements $ 1,434,402 $ 3,250,000 $ 4,684,402
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