Resolution 3864 - Approve Amended Budget - SID 328RESOLUTION NO. 3864
A RESOLUTION APPROVING AMENDING THE BUDGET FOR THE GENERAL FUND TO
PROPERLY ACCOUNT FOR FUNDS EXPENDED TO REDEEM TAX DEED LAND DURING
FISCAL 1989.
WHEREAS, the City of Kalispell expended $79,594.71 in fiscal
1988 to purchase tax deed land, subject to SID #328, from Flathead
County, and
WHEREAS, the expenditure is to be covered by revenue anticipated,
in the amount of $211,122.95, from the sale by the City of such
property, and
WHEREAS, the difference between the purchase price and the antici-
pated sale price, $131,527.88, shall be appropriated and transferred
from the General Fund to the SID #328 Debt Service Fund to pay off
outstanding bonds, and
WHEREAS, ,the expenditure of $79,594.71 to purchase tax deed land
is to protect the City's interest in SID bonds, which are an annual
obligation of the City, and
WHEREAS, the City Council of the City of Kalispell, pursuant to
§7-6-4231, MCA, on the 1st day of May, 1989 passed Resolution No.
3858, which set a Public Hearing to be held at 7:30 P.M. on the 5th
day of June, 1989, at the City Council Chambers, City Hall, Kalispell,
Montana, and
WHEREAS, the City Council pursuant to said Notice did hold a
Public Hearing at said time and place and provided an opportunity
for taxpayers and residents of the City of Kalispell to be heard for
and against amending the budget to allow for the purchase of tax
deed land, and
WHEREAS, at the conclusion of said hearing the City Council
determined that it was appropriate to approve the budget amendment
of $79,594.71 to cover the purchase of tax deed land.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION I. That the General Fund Budget for fiscal 1989
is hereby amended by including therein additional funds in
the amount of $79,594.71 for the purchase of tax deed
land, subject to SID #328, from Flathead County.
SECTION II. That this Resolution shall become effective
immediately upon passage by the City Council and approval
by the Mayor.
SECTION III. That this Resolution shall be entered upon
the minutes of the Council meeting held this date and as
such shall evidence compliance with 57-6-4631, MCA.
PASSED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AND APPROVED
BY THE MAYOR THIS 5TH DAY OF JUNE, 1989.
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J n "Ed" Kenne r., Mayor
ATTEST:
L_Z
Don Halver, M.C.
City Clerk -Treasurer
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