AN ORDINANCE
NO. __________
AN ORDINANCE AMENDING THE BUDGET FOR THE FISCAL YEAR 2007 BEGINNING JULY 1,
2006 AND ENDING JUNE 30, 2007, FOR CERTAIN FUNDS OF THE CONSOLIDATED GOVERNMENT
OF COLUMBUS, GEORGIA, APPROPRIATING AMOUNTS SHOWN IN THE SPLOST PROJECT FUND
FOR THE LIBRARY PROJECT.
THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS AS FOLLOWS:
SECTION I.
The 1999 SPLOST Projects Fund budget in the amount of $15,711,486 for the
fiscal year beginning July 1, 2006 and ending June 30, 2007, is hereby
increased by $6,078,148 to $21,789,634 for the Library Project.
The budget increase provided herein is to be funded with Special Purpose Local
Option Sales Tax Proceeds.
Within the overall budget limitations, authority is hereby delegated to the
City Manager, or the Finance Director when acting on the authority delegated by
the City Manager, to effect such intra-fund transfers of appropriation and
revenue anticipation as may be deemed necessary to the effective performance
and delivery of services approved herein.
SECTION II.
All ordinances or parts of ordinances in conflict with this ordinance are
hereby repealed.
______________________
INTRODUCED at a regular meeting of the Council of Colum?bus, Georgia,
held on the 1st day of May, 2007; introduced a second time at a regular meeting
held on the ______ day of _____________, 2007 and adopted at said meeting by
the affirmative vote of __________ members of said Council.
Councilor Allen voting___________________.
Councilor Anthony voting_________________.
Councilor Baker voting___________________.
Councilor Barnes voting__________________.
Councilor Davis voting___________________.
Councilor Henderson voting_______________.
Councilor Hunter voting__________________.
Councilor McDaniel voting________________.
Councilor Turner Pugh voting_____________.
Councilor Woodson voting_________________.
___________________________________ ______________________________
TINY B. WASHINGTON JIM WETHERINGTON
CLERK OF COUNCIL MAYOR
Agenda Item#
Columbus Consolidated Government
Council Meeting
May 1, 2007
Agenda Report#
TO: Mayor And Councilors
SUBJECT: Library Project - FY07 Budget Amendment
INITIATED BY: Finance Department
Recommendation: Approve an Ordinance amending the Special Purpose Local Option
Sales Tax ("SPLOST") Project Fund for the library project.
Background: The library project was a separate question on the SPLOST
election on November 2, 1999. Question Two was "Shall a special 1 percent
sales and use tax be imposed in Muscogee County for the raising of not more
$50,381,962 for the purpose of paying the costs, in part, of acquiring,
constructing, and equipping a county library to be operated by Muscogee County
School Board? If imposition of the tax is approved by the voters, such vote
shall also constitute approval of the issuance of general obligation debt of
the Columbus Consolidated Government on behalf of Muscogee County in the
principal amount of $40,400,000 for the above purpose?"
The total budget for the Library project was established at $40,000,000.
General Obligation Sales Tax Bonds, Series 2000 and 2003 were issued for the
Library project in the amount of $35,000,000. The balance of the project was
funded directly with SPLOST proceeds.
The maximum allowed by the referendum for the library project was $50,381,962.
The allocated bond issuance and interest costs for the Library project is
$4,303,813.47. This leaves a balance of the amount allowed by the referendum
of $6,078,148.53. The Library Board has requested $6,078,148 in proposed
expenditures for FY07.
Analysis: The recommended budget adjustment will change the total approved
budget as follows:
SPLOST - Capital Projects Fund: The adjustment will increase the total
approved expenditure budget of the fund by $6,078,148.
Recommendations / Actions: Approve an Ordinance amending the Special Purpose
Local Option Sales Tax ("SPLOST") Project Fund for the library project.
Attachments