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Fort Walton Beach Resolution — 65-36-Transfer funds to Street Cons. Fund — reading text
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RESOL1JTI01\ KO. 10 . 5-:.-3,- l"l
A RESOLUTION AUTHORIZING AND DIRECTING THE CITY
l:lANAGER AND THE PI NANCE DIRECTOR TO TR1~NSFEH
MONIES IN Ar.iIOUNTS UP TO ~ 50, 000 FROTdl THE RIGHT-
OF- WAY PUND TO TEE STREET CONSTRUCTION FUND POR
THE PURPOSE OF CAREYING ON THE STREET CONSTRUCTION
PHOGF:.A:,[ OF TI-IE CIIJry OF FORT 7iALTON BIi:ACH.
WHEREAS, The City of Fort Walton Beach has committed a portion
of the Right- Of- Way Fund, which resulted from the proceeds of
the sale of the 1963 utility Tax Revenue Certificates, to apply
as a temporary loan for the purpose of paying the cost of the
street construction.
V,
NO~: THEREFOHE, BE IT RESOLVED BY THE CITY COUNCIl, OF THE CITY
OF : PORT V! ALTON BEACH, FLORI DA:
Section I: That the City Manager and the Finance Director be
and they are hereby authorized to transfer monies in amounts up
to $ 50, 000 from the Right- Of-~ ay Fund to the street Construction
Fund for the purpose of carrying on the Street Construction
Program of the City of Fort Walton Beach, and that the said
amount of monies will be reimbursed to the Right- Of- Way Fund
from the proposed Utility Tax Revenue 150, 000).
Certificates (::;',
Section II: That this Resolution shall take effect immediately
upon its passage and approval thereof by the 