0294 • .
RESOLUTION NO. 294 - 82
A RESOLUTION AUTHORIZING AND DIRECTING THAT CERTAIN REVENUES OF THE CITY
BE SET ASIDE AND DEDICATED FOR THE PURPOSE OF SEWER SYSTEM IMPROVEMENTS,
AND,FOR OTHER PURPOSES:
WHEREAS, the Jacksonville Sewer Commission has recommended to the City
Council certain sewer rate adjustments in order to finance major capital
improvements to the city sewer system, which improvements are required by
administrative order of the Environmental Protection Agency; and
WHEREAS, after due deliberation, the City Council has chosen to postpone
such rate adjustments and instead finance a portion of such major capital
improvements through the use of revenues from the recently adopted one -cent
sales tax increase;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
JACKSONVILLE, ARKANSAS, that:
Section 1: The appropriate fiscal officials of the City shall create
a separate fund which shall be entitled "City of Jacksonville, Capital
Improvements Fund." The monies held within this fund shall be managed and
invested by the City Finance Department, under the control of the City
Council. Within the Capital Improvements Fund shall be established various
"department" or "project names" which shall be earmarked or designated to
receive stipulated monies as approved by the City Council after public
hearings. One such department shall be established for the Sewer Department,
and be known as "Sewer Department Capital Improvements," and to which there
is hereby appropriated in calendar year 1982 the sum of $200,000.00, in
calendar year 1983 the sum of $400,000.00, in calendar year 1984 the sum of
$400,000.00, and in calendar year 1985 the sum of $400,000.00. The Sewer
Department within the Capital Improvements Fund shall have a separate depart-
ment control number and be included with monthly financial reports available
to City Council members, Sewer Commission, and general public. Such appro-
priations to the Sewer Department Capital Improvements Fund shall be derived
only from the City's share of revenues from the additional one -cent sales
tax imposed by the voters of Pulaski County on February 2, 1982, and shall
be transferred to such Fund on a monthly basis as such revenues are received
by the City.
Section 2: All interest or income derived from the investment of the
Sewer Department Capital Improvements monies shall be added to such Fund for
RESOLUTION NO. 294 - 82 PAGE 2
the eventual use of the Jacksonville Sewer Commission in making major
capital expenditures for existing and proposed sewer improvements as
required by EPA administrative order. Upon approval by EPA of the
Step III construction grant, or upon the sale of bonds by the Jacksonville
Sewer Commission to finance the remainder of construction costs, the City
shall transfer from the Sewer Department Capital Improvements monies to
the Jacksonville Sewer Commission such monies as may be requested in writing
by the Chairman of the Commission based upon the receipt of the statements
for construction. Progressive payments shall be made until all funds are
spent or the project is completed.
Section 3: Money assigned to this project by this Resolution is to
cover the 50% of the City's share of the cost of constructing the new
facility.
Section 4: The City Council recognizes that without the commitment of
revenues specified in this Resolution, immediate sewer rate adjustments would
have to be enacted, and the use of the revenues from the additional one -cent
sales tax will have the purpose and effect of postponing the rate adjustments
to the rate payers of the sewer system and the citizens of Jacksonville.
Section 5: This Resolution being necessary for the immediate preservation
of the public health, safety, welfare and morale of the citizens of the City
of Jacksonville, Arkansas, an emergency is hereby declared to exist and this
Resolution shall have full force and effect immediately after its passage.
APPROVED AND ADOPTED this 1st day of April ,1982.
AYOR
ATTEST:
za-f i 101 cg ...yf' Qj.ttr .04.
CITY CLERK
APPROVED AS TO FO :
��Q
C IYY ATT<ORNi:Y --
EXAMPLE
ONE checking account entitled "Capital Improvements Fund"
Separate Sub -Funds within the checking account to completely separate
all aspects of each segment or "department" or "project" from every
other one.
Examples:
Fund #170 - "Capital Improvements - General"
170 - 000 -1010 -- Cash -- Capital Improvements - General
170- 000 -1020 -- Investments --
170 - 000 -4710 -- Interest Income - -"
170-070-5850 -- Payments to other Funds --
170 - 000 -3999 -- Fund Balance --
Fund #172 - "Capital Improvements - Sewer Construction"
172 -000 -1010 -- Cash -- Capital Improvements - Sewer Construction
172 -000 -1020 -- Investments -- "
172- 000 -4710 -- Interest Income - -"
172 - 072 -5540 -- Sewer Plant Constr. -- " "
172- 000 -3999 -- Fund Balance -- "
Fund #174 - "Capital Improvements - Street Construction"
174- 000 -1010 -- Cash -- Capital Improvements - Street Construction
174- 000 -1020 -- Investments -- "
174 -000 -4710 -- Interest Income - -" "
174 -074 -5540 -- Street Constr. -- "
174- 000 -3999 -- Fund Balance -- "
Fund #176 - "Capital Improvements - New Fire Trucks"
176 -000 -1010 -- Cash -- Capital Improvements - New Fire Trucks
176 - 000 -1020 -- Investments -- " "
176- 000 -4710 -- Interest Income - -" "
176- 076 -5500 -- Equipment Purchased -- " u "
176- 000 -3999 -- Fund Balance -- " "