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Ordinance Making Supplemental Appropriation in the Amount of $1,275,000 from the Sale of Surplus Properties to Pay Debt Service on the Skyline Center
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LEGISLATIVE INTENT/PURPOSE:
This ordinance appropriates in the General Fund $1,275,000 of proceeds from the sale of surplus properties located at 320 N. Front Street ($750,000) and 1502 Wellington Avenue ($525,000), and transfers that amount to the Debt Service Fund for the payment of debt service on the Skyline Center.
THEREFORE, BE IT ORDAINED:
THAT, the following appropriation is hereby made to the General Fund and the Debt Service Fund, and that the following revenue is available to meet this appropriation.
GENERAL FUND
Appropriation
Transfer to Debt Service Fund $1,275,000
(10095000-598150)
Revenue
Real Estate Sales $1,275,000
(10008001-308000)
DEBT SERVICE FUND
Revenue:
Transfer from General Fund $1,275,000
(15009110-311000)
Appropriation:
Payment to Redeem Outstanding Installment $1,275,000
(15091700-580054)