Resolution No. 06-11 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 06
A RESOLUTION APPROVING BUDGET AMENDMENT #10 TO THE FY 2005-06
ADOPTED BUDGET TO INCREASE APPROPRIATIONS IN THE GAS TAX FUND 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 proposed LID boundary within the Tigard Triangle is defined as SW 6841 Avenue,
SW 69t11 Avenue, and SW 70�, Avenue between SW Dartmouth Street and SW Baylor Street and SW
Dartmouth Street and SW Clinton Street between SW 68th Avenue and SW 70'J1 Avenue; and
WHEREAS, at the February 21, 2006 City Council meeting, Council reviewed and discussed a
Preliminary Evaluation Report prepared by Engineering staff, which determined that the proposed
LID was feasible and recommended that the City Council take the next step in the LID formation
process by authorizing the preparation of a Preliminary Engineer's Report; 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, it is anticipated that $70,000 of total Preliminary Engineer's Report cost of$125,000 will
be incurred in FY 2005-06;and
WHEREAS, Specht Development, Inc. has agreed to deposit, in advance of any work, the amount
needed for the preparation of the Preliminary Engineer's Report with the understanding that the City
will include the cost of preparing the report in the total cost of the LID; and
WHEREAS, it is necessary to amend the FY 2005-06 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 2005-06 Budget is Hereby amended as shown iii Attachment A to this resolution to
transfer$70,000 fiom the Gas Tax Fund contingency to the Gas Tax Capital Improvement
Project budget.
SECTION 2: This resolution is effective immediately upon passage.
I
RESOLUTION NO.06
Page 1
PASSED: This �bA day of 2006.
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Mayor-tity of Tigard
ATTEST:
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City Recorder- City of Tigard
RESOLUTION NO. 06 - /r
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Attachment A
FY 2005-06
Budget Amendment # 10
FY 2005-06 Budget Adopted
Adopted Amendment Revised
Budget # 10 Budget
Gas Tax Fund
Resources
Beginning Fund Balance $1,552,821 $1,552,821
Grants 228,025 228,025
Interagency Revenues 2,407,900 2,407,900
Development Fees &Charges 11,420 11,420
Interest Earnings 31,300 31,300
Oilier Revenues 108,636 108,636
Transfers In from Other Funds 0 0
Total $4,340,102 $0 $4,340,102
Requirements
Development Services Program 445,000 445,000
Program Expenditares Total $445,000 $0 $445,000
Debt Service $0 $0
Capital Improvements $1,943,361 $70,000 $2,013,361
Transfers to Other Funds $1,305,617 $1,305,617
Contingency $350,000 ($70,000) $280,000
Total Requirements $4,043,978 $0 $4,043,978
Ending Fund Balance 296,124 296,124
Grand Total $4,340,102 $0 $4,340,102