Resolution 4465 - Budget Amendment - Big Sky Manor Loan1914
RESOLUTION NO. 4465
A RESOLUTION AMENDING THE ANNUAL APPROPRIATIONS OF THE CITY OF
KALISPELL, MONTANA, AS SET FORTH IN THE 1998-99 BUDGET ADOPTED BY
THE CITY COUNCIL FOR THE UDAG LOAN PROGRAM INCOME.
WHEREAS, the City Council budgeted and appropriated the sum of
$272,313.00 in UDAG Program Income, in accordance with
MCA 7-6-4271, and
WHEREAS, Hampstead Partners, Inc. has requested that the City
utilize $124,000 for the purpose of funding a loan for
assistance in purchasing the Big Sky Manor, and
WHEREAS, the UDAG Program Income contains adequate additional
funds which may be used to cover the costs of the loan,
and
WHEREAS, said $124,000 was not appropriated pursuant to Section 7-
6-4271, and constitutes an overall increase in
appropriation authority, and
WHEREAS, the appropriate fund would be Fund 2886, with the
appropriate expenditure line item.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION I. That the annual appropriation for UDAG Program
Income is hereby amended by allocating an
additional $124,000 for the making a loan to
Hampstead Partners, Inc. to assist in the
purchase of Big Sky Manor.
SECTION 11. This Resolution shall become effective
immediately upon its passage by the City
Council.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, THIS 19TH DAY OF APRIL, 1999.
ATTEST: ^
Theresa White
City Clerk
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Wm. E. Boharski
Mayor
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