HomeMy WebLinkAboutResolution 4644 Amending FY 2016 North 7th Tax Fund Budget BUS
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COMMISSION RESOLUTION NO. 4644
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, AMENDING FISCAL YEAR 2016 (FY16) NORTH
7TTI TAX INCREMENT FINANCE DISTRICT FUND BUDGET TO INCLUDE
ADDITIONAL EXPENDITURES OF $554,000 FOR CONSTRUCTING A
CITY-OWNED CONDUIT SYSTEM TO INCENTIVIZE THE PROVISION
OF NEXT GENERATION FIBER OPTIC TELECOMMUNICATION
FACILITIES BY THE PRIVATE SECTOR WITHIN THE URBAN RENEWAL
DISTRICT.
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WHEREAS, on June 1, 2015, the North 7th Urban Renewal District (the District ) presented
their annual work-plan report and budget request for Fiscal Year 2016 to the City Commission; and
WHEREAS, the City Commission exercises its authority to adopt budgets and authorize
expenditures for the District in accordance with Montana Code Annotated 7-15-4281; and
WHEREAS,the City Commission did,on the 23rd day of June,2015,after due and proper legal
notice conduct a public hearing on and adopt Resolution No. 4602 - A RESOLUTION OF THE CITY
COMMISSION OF THE CITY OF BOZEMAN, MONTANA, APPROPRIATING FUNDS FOR
VARIOUS BUDGET UNITS, AND FURTHER ESTIMATING REVENUE NECESSARY TO
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OPERATE AND MAINTAIN SERVICES OF MUNICIPAL GOVERNMENT FOR THE FISCAL
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YEAR ENDING JUNE 30, 2016; and
WHEREAS, on December 3, 2015 the District approved a motion to amend the work-plan and
budget to include$554,000 for constructing a City-owned conduit system to incentivize the provision of
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next generation fiber optic telecommunication facilities by the private sector within the urban renewal '
district; and �
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Resolution 4644,Amending Fiscal Year 2016(FY16)Nerils 779 Tax Increment Finance District Fiord Budget
WHEREAS, the North 71h Tax Increment Finance District Special Revenue Funds are to be
expended on projects included in the Not 7"'Urban Renewal District's work-plan,to benefit the District;
and
WHEREAS,the City Commission did, on the 14 day of December, 2015, after due and proper
legal notice, conduct a public hearing on the proposed budget amendments.
NOW,THEREFORE,BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana,to wit:
Section I—Appropriation Additions
The City Commission of the City of Bozeman, Montana, does hereby authorize additional
expenditures within the North 71 Tax Increment District Fund in Fiscal Year 2015 in the following
amounts:
North 7`h Tax Increment District Fund- 143:
Construction of a City-owned telecommunications conduit system $554,000
GRAND TOTAL—Additional Appropriations 5�54 000
Section 2—Use of Fund Reserves
The increased appropriations shall be funded from un-used cash reserves in the North 71h Tax
Increment District Fund. Amended appropriations include capital carry-over items from FY15,in
accordance with Resolution No. 4602. Current Beginning and Ending Reserves estimates are as follows
Beginning FY16 Estimated Revenues Amended Amended FY16 Ending
Appropriations Balance
$2,045,705 $728,013 $1,654,980 $1,118,738
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full force
and effect on July 1,2014.
Section 4
That should it be found by any court of competent jurisdiction that any section, clause,portion,
sentence, word, or phrase of this resolution is deemed to be contrary to any existing law or regulations,
that in this instance, it is the intent of the City Commission of the City of Bozeman, Montana, that all
other portions, sections,words,clauses,phrases,or paragraphs of this document shall remain in full force
and effect.
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Resolution 4644,Amending Fiscal Year 2016(FY16)Noilk 7-Tff Tax Increment Finance District Fund Budget
PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 141h day of December,2015.
Me
JEF K*AUS§
Maybr
ATTEST:
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ST*CY
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APPROVED AS TO FORM:
GYRE"ULLIVA- N
City Attorney
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