Resolution No. 06-69 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 06-
A RESOLUTION APPROVING BUDGET AMENDMENT #8 TO THE FY 2006-07 BUDGET
TO INCREASE APPROPRIATIONS IN THE GAS TAX FUND CAPITAL PROJECTS FOR
FUNDING OF THE PRELIMINARY ENGINEER'S REPORT FOR THE PROPOSED LOCAL
IMPROVEMENT DISTRICT (LID) FOR INFRASTRUCTURE IMPROVEMENTS IN THE
TIGARD TRIANGLE.
WHEREAS, Specht Development Inc. has submitted a petition requesting the formation of a Local
Improvement District (LID) to improve certain streets within the Tigard Triangle; and
WHEREAS, the City Council approved a resolution at the February 28, 2006 Council meeting
authorizing the preparation of a Preliminary Engineer's Report; and
WHEREAS, Specht Development Inc. deposited $72,500 with the City, which was receipted into the
Gas Tax Fund, to pay for the Report; and
WHEREAS, it was anticipated that the Preliminary Engineer's Report would be completed in FY
2005-06; and
WHEREAS, the FY 2006-07 Budget does not include appropriations for expenditures related to the
Preliminary Engineer's Report preparation; and
WHEREAS, the City is incurring expenditures in FY 2006-07 for preparation of the Preliminary
Engineer's Report; and
WHEREAS, it is necessary to amend the FY 2006-07 Adopted Budget to increase appropriations to
fund the preparation of the Preliminary Engineer's Report.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: The FY 2006-07 Budget is hereby amended as shown in Attachment A to this
resolution to transfer $72,500 from the Gas Tax Fund contingency to the Gas Tax
Capital Improvement Projects budget.
SECTION 2: This resolution is effective immediately upon passage.
RESOLUTION NO. 06 - �P /
Page 1
PASSED: This J day of !�NQ 2006.
K5F
Mayo/ City of Tigard
ATTEST:
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City Recorder- City of Tigard
RESOLUTION NO. 06 -
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Attachment A
FY 2006-07
Budget Amendment #8
FY 2006-07 Budget Revised
Revised Amendment Revised
Budget # 8 Bud et
Gas Tax Fund
Resources
Beginning Fund Balance $2,527,366 $2,527,366
Grants 228,025 228,025
Interagency Revenues 2,393,000 2,393,000
Development Fees &Charges 18,000 18,000
Interest Earnings 35,000 35,000
Other Revenues 127,642 127,642
Transfers In from Other Funds 0 0
Total $5,329,033 $0 $5,329,033
Requirements
Community Development Program 460,000 460,000
Program Expenditures Total $460,000 $0 $460,000
Debt Service $0 $0
Capital Projects $3,035,000 $72,500 $3,107,500
Transfers to Other Funds $1,582,352 $1,582,352
Contingency $250,000 ($72,500) $177,500
Total Budget $5,327,352 $0 $5,327,352
Ending Fund Balance 1,681 1,681
Total Requirements $5,329,033 $0 $5,329,033