AG 2006 06 19 - Laserfiche WebLink

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RESOLUTION ESTABLISHMENT AND MAINTENANCE OF THE CAPITAL RESERVE UTILITY FUND WHEREAS, there is a need to maintain funds for future County Utility projects; and WHEREAS, the Capital Reserve-Utility Fund was established to account for the assessment fees collected for future Utility projects. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD THAT: Section 1. The Governing Board hereby creates Reserve Utility Fund for the purpose of maintaining funds utility project~ for Cabarrus County. a Capital for future Section 2. The following budgeted amounts are appropriated for the projects: Utility I~provement Projects $300,000 Section 3. The following revenues are anticipated to be available to fund this project: Assessment Fees Interest Income $290,000 $ 10,000 Section 4. The County Manager revenues and ap~ropriation within an the following conditions: is hereby authorized to transfer ordinance as contained herein under a. The Manager may transfer amounts between objects of expenditures and revenues within a function without limitation. The Manager may transfer amounts up to $100,000 between functions of the same ordinance. The Mana$er may transfer amounts between contingency funds which are set a4ide for a specific projects upon the appropriate approval ~f the change order. The Manafer may enter into and execute change orders or amendments to County,construction contracts in amounts up to $50,000 when the project o*dinance contains sufficient appropriated but unencumbered funds. . b. c. d. Section 5. This resolution shall become effective upon its adoption. Adopted this 19 h day of June 2006. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: Robert Carruth, Chairman ATTEST: Clerk to the Bo rd F-II