08-1049w
Council File # DO � 0'-j" /
Greea Sheet # 3058598
�, , CI'f� OF SAINT PAUL, MINNESOTA �(y
Presented By:
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WHEREAS, the Departrnent of Public Works issued Revenue Bonds in Mazch 2008 which were approved on CF# 08-138; and
WHEREAS, the total amount of bonds issued was more than what was odginally planned, therefore the co=responding debt payments
aze also higj�er; aud
WHEREAS, the Mayor, in accordance vrith Secrion 10.07.1 of the City Charter, certifies that there aze available for appropriation
S 1,307,098 in excess of those estimated in the 2008 budget; and in accordance with SecSons 10.071 and 10.07.4 of the City Char[er,
recommends the followiug changes to the 2008 budgeh.
CLaeut
Amended
Fund Activiry Object Description Budget Changes Budget
Sewer Ufility Enterpnse Fund
FINANCING
260 - 22200 - 9925
260
Use of Net Assets
All Other Financing
PUND FINANCING CFiANGE
To caver the 2008 payments due on the 2008 Revenue Bonds.
SPENDING
260 - 22308 - 0610 Revenue Bond Debt Interest
260 - 22308 - 0621 Long-Term DebtMatw4ty
260 Al! Other Spending
FUND SPENDING CHANGE
i 1,O5Q210 1,307,098 12,357,308
49,370,473 0 49,370,473
1,307,098
0 722,098 722,098
0 585,000 585,000
6Q42Q683 0 6Q420,683
1,307,098
To have [he budget authority to ptry the 2008 payments due on the 2008 Revenue Bonds.
TFIEREFORE BE IT RESOLVED, that the CiTy Council approves the amended budgets as indicated above, and adopts the
revisions to the 2008 budget.
Requested epartment oE P]ic rks
� .,�i7 �� �✓1�n.�i �
Adoption Certified by Council Secretary:
By: ` J
Approv by May �. Date Z L?' �
ay:
By:
Approval Re ended b the �rector of Financial Se ' es:
By:
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Form Approved by Ciry Attomey:
By: � �,, � `
Appro byM or bmissio uncil:
By:
Adopted by CounciC Date �/ j'
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_,,
Contact Person & Phone:
Rhonda Giliquist
266-6070
musR ce on
03SEP-08
Doc. Type: PUBUC HEARING (RESOLUl
E-Documertt Requ7red: N
Document Contac[:
Contaet Phone:
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Assign 1 blicWorlcs I DeosrmientDinrtor ��f,��
Number y ��Attorney
For
Routing 3 " Services I i
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5 Coumil
6 CiN Clerk City Clerk
ToWI # of Signature Pages _(Clip Ail Locations for Signature)
Approve attached Resoluaon to amend the financing and spending plans of the Sewer Utility Enterprise Fund for 2008.
itlanons: npprove (A) or t;
Planning Commission
CIB Committee
Civil Service Commission
1. Has this person/firm ever worked under a contract for this departmenY?
Yes No
2. Has ihis persoNfirtn ever been a city employee?
Yes No
3. Does ihis person/fircn possess a skill not normally possessed by any
current city employee? •
Yes No
F�cplain all yes answers on separete sheet and attach to green sheet
Initiating Problem, issues, Opportunity (Who, What, When, Where, Why):
In March 2008, the Sewer Uulity issued bonds that were at a higher amount than previously budgeted. Therefore, the bond payments
due on this bond issuance are also higher than budgeted amounts.
Advantages It Approved:
There will be sufFicient budget to cover the bond payments due on December 1, 2008 for the 2008 Revenue Bonds.
Disadvantages If Approved:
None.
DisativaMages If Not Approved:
There will not be sufficient spending authority to cover the bond payments due on December l, 2008 for the 2008 Revenue Bonds.
Ti��bn $1,307,098.00
Funding source: Use of Net Assets
Financial Information:
(Explain)
CostlRevenue Budgeted: y
Activity Number: 260-22200-9925
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AUG � � 2�08
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