Information

Type: Deliberation

Department: AUD - Auditor

Directors' Update: TBD

Business Meeting: April 13, 2021

Summary:

Establish the 2021 Construction Fund - General Government Facility Fund No. 3250.

Publications:

Cover Letter To:

Additional Copies To: Rieva Lester, Clerk of the Board Arny Davis, Treasurer Grace Jimenez, Auditor's Office - Financial Analyst III Becky Butler, Budget Manager

Resolution

WHEREAS, Resolution No. 20-452 authorized the sale, issuance, and delivery of Limited Tax General Obligation Bonds, Series 2021; and

WHEREAS, the Limited Tax General Obligation Bonds were issued for the purpose of providing funds for the acquisition, construction, and installation of improvements to the Juvenile Justice Center; for providing funds for the acquisition, construction, and installation of improvements to the county’s general government facility; providing funding to pay certain costs incurred with the issuance of the Bonds; and

WHEREAS, Section 10 of Resolution No. 20-452 created a “2021 Construction Fund” or such other designation conforming to account practices for paying the costs of the project; and

WHEREAS, it is in the best interest of the county to establish a separate construction fund for each of the capital projects funded by the Bonds; “2021 Construction Fund – Juvenile Justice Center” and “2021 Construction Fund - General Government Facility"; and

WHEREAS, pursuant to Section 10 of Resolution No. 20-452 the county may establish other funds conforming to the account practices; the “2021 Construction Fund” to be known as the 2021 Construction Fund – General Government Facility Fund No. 3250 conforms to the account practices for construction funds.

NOW THEREFORE BE IT RESOLVED that there is hereby established a Capital Project Fund to be known as the 2021 Construction Fund – General Government Facility Fund No. 3250 consistent with Resolution 20-452; and

NOW THEREFORE BE IT FURTHER RESOLVED that Resolution No. 20-452 shall provide the direction as to the funding and subsequent operation of the 2021 Construction Fund – General Government Facility Fund No. 3250.

DONE IN OPEN SESSION this 13th day of April, 2021.