HomeMy WebLinkAboutResolution 5285 Amdending City Annual Budget to Make Changes to the Midtown Urban Renewal Fund
RESOLUTION 5285
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, AMENDING THE CITY’S ANNUAL BUDGET TO MAKE CHANGES TO
THE OPERATING, CAPITAL, AND DEBT SERVICES APPROPRIATIONS FOR THE
MIDTOWN URBAN RENEWAL FUND, MIDTOWN BOND SERIES 2020 DEBT FUND,
AND MIDTOWN STREETSCAPE PROJECT CONSTRUCTION FUND TO BE FUNDED
WITH PREVIOUSLY UNBUDGETED REVENUE AND FUND BALANCE APPROVED
JUNE 22, 2020.
WHEREAS, the City Commission did, on the 22nd day of June, 2020, after due and
proper legal notice, conduct a public hearing and adopt a municipal budget for Fiscal Year 2020-
2021 (Fiscal Year 2021); and
WHEREAS, the City Commission did, on the 11th day of May, 2021, after due and
proper legal notice, conduct a public hearing on proposed amendments to the municipal budget.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, to wit:
Section 1 – Appropriation Additions
The City Commission of the City of Bozeman, Montana, does hereby authorize and
instruct expenditures in the following funds to record the debt issuance, debt service payment and
appropriations to be in line with the Midtown Urban Renewal District’s work plan:
DocuSign Envelope ID: 294D3C99-638F-40C7-AE29-D0EFA1D99310
Section 2
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full
force and effect on July 1, 2020.
Section 3
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.
Fund
#Fund Description Account
Appropriation
Needed
Estimated
Revenues
571 Midtown Streetscape Bond Capital Project Fund Bond sale Proceeds 7,149,009
571 Midtown Streetscape Bond Capital Project Fund Capital Infrastructure 6,768,781
571 Midtown Streetscape Bond Capital Project Fund Operating costs (bond issuance costs) 380,228
Fund
#Fund Description Account
Appropriation
Needed
Estimated
Revenues143Midtown Special Revenue Fund Operating 1,237,000 Fund Balance
Fund
#Fund Description Account
Appropriation
Needed
Estimated
Revenues
143 Midtown Special Revenues Fund Transfer out 401,894
306 Midtown Bond Series 2020 Debt Service Fund Transfer in 401,894
306 Midtown Bond Series 2020 Debt Service Fund Debt service 401,894
Fund
#Fund Description Account
Appropriation
Needed
Estimated
Revenues
143 Midtown Special Revenue Fund Transfer out 228,864
571 Midtown Streetscape Bond Capital Project Fund Transfer in 228,864
571 Midtown Streetscape Bond Capital Project Fund Capital Infrastructure 228,864
Budget for Increase in Project Costs
Debt Service Payment
Budget for Bond Sale and Project
Budget to adjust based on work plan presented in July
DocuSign Envelope ID: 294D3C99-638F-40C7-AE29-D0EFA1D99310
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 11th day of May, 2021.
___________________________________
CYNTHIA L. ANDRUS
Mayor ATTEST:
___________________________________ MIKE MAAS City Clerk APPROVED AS TO FORM:
___________________________________ GREG SULLIVAN City Attorney
DocuSign Envelope ID: 294D3C99-638F-40C7-AE29-D0EFA1D99310