744 2001 Yelm City BudgetCITY OF YELM
ORDINANCE NO. 744
AN ORDINANCE amending Ordinance No. 715 (2/00) adopting the
City of Yelm 2001 Budget by providing a $50,000 equity transfer
appropriation from Cumulative Reserve (Fund 104) to the Longmire
Community Park (Fund 314) and repealing and replacing Ordinance
735 (6/01) authorizing an interest free Interfund Loan between the
Cumulative Reserve and Longmire Community Park funds.
WHEREAS, the City of Yelm was successful in obtaining an Interagency
Committee for Outdoor Recreation (IAC) grant to assist with development of
Longmire Community Park; and
WHEREAS, a funding appropriation amount was not included in the 2001
Budget dedicating funding for cash flow to allow payment of initial grant
reimbursable expenses; and
WHEREAS, a funding appropriation amount was not included in the 2001
Budget dedicating funding to meet expenses exceeding the scope and financial
commitment of the grant; and
WHEREAS, the City took steps to correct this oversight by approving an
interest free Interfund Loan in Ordinance No. 735 (6/01) not to exceed $100,000;
and
WHEREAS, a lump sum payment of $50,000 was subsequently made
from a Cumulative Reserve (104) expenditure line to a Longmire Community
Park (314) revenue line as approved under Ordinance No. 735; and
WHEREAS, The City recognizes that the in-kind services value committed
as the City's only match to the IAC Grant funding may not be adequate to
produce the desired project results;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF YELM, THURSTON COUNTY, STATE OF WASHINGTON:
Section 1. The City of Yelm Budget is amended by creating a budget
appropriation for an equity transfer of $50,000 from the Cumulative
Reserve Fund (104) to the Longmire Community Park Fund (314)
to replace the Interfund Loan authorization approved under
Ordinance No. 735.
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Section 2. City of Yelm Ordinance No. 735 authorizing the Cumulative
Reserve to Longmire Community Park Interfund Loan is repealed in
its entirety.
Section 3. Savings Clause. Ordinance No. 735, which is repealed by this
ordinance, shall remain in force and effect until the effective date of
this ordinance.
Section 4. Severability. If any section, subsection, paragraph, sentence,
clause, or phrase of this ordinance is declared unconstitutional or
invalid for any reason, such decision shall not affect the validity of
the remaining parts of this ordinance.
Section 5. A copy of this ordinance shall be forwarded to the State Auditor's
Office.
Section 6. Effective Date. This ordinance shall take effect five days after the
date of its publication.
e Yelm City Council, at a regular meeting thereof on this 14t" day of
~n~
Rivas, Mayor
Authenticated:
i
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A s P. Bennick, City Clerk
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