Res No 102-14-14196RESOLUTION NO.102-14-14196
A Resolution relating to budget;authorizing a transfer of $3,500 from
Debt Service Principal,settlements account to Debt Service Interest
account for $500 and Debt Service Fees account for $3,000.
WHEREAS,itis requested that thebudgetforDebtService Interest beincreasedby$500and
Debt ServiceFeesbe increased by$3,000from account No.201.1410.519.7110;and,
WHEREAS,Itis essential to provide sufficientfunds for Debt Service Interest and Debt
ServiceFees to reduce deficienciesin the budgeted lineitems;and,
WHEREAS,the MayorandCity Commission desire to transfer sufficientfundsfrom account
No.20I.I4I0.5I9.7110 Debt Service Principal,witha current balanceof $20,000,settlements to
account No.201.1410.519.7210 Debt Service Interest for $500,with a current balance of -
$460,and account No.201.1410.519.7310 Debt Service Fees for $3,000,with a current balance
of-$2,927.
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI,FLORIDA THAT;
Section I.TheCityManagerisherebyauthorized to transfer sufficientfundsin the amount of
$3,500 fromaccountNo.201.1410.519.7110 DebtService Principal,witha current balanceof
$20,000,settlements to account No.201.1410.519.7210 Debt Service Interest for$500,witha
current balanceof -$460,and account No.20I.I4I0.5I9.73I0 Debt Service Fees for $3,000,
with a current balance of -$2,927.
Section 2.This resolution shall take effect immediately upon adoption.
PASSED ANDADOPTED this20ttelay ofMay 2014.
ATTEST:
T&A K(X^^j^
READ AND APPROVED7AS TO FORM,
UVNGUAG|JJG^J^AND
EXECg^CTTj^EREOF:
APPROVED:
COMMISSION VOTE:5-0
Mayor Stoddard:yea
Vice Mayor Harris:yea
Commissioner Welsh:Yea
Commissioner Liebman:Yea
Commissioner Edmond:Yea
Sou#Miami
THE CITY OF PLEASANT LIVING
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER-OFFICE MEMORANDUM
To:
From:
Date:
The HonorableMayor&Members of the City Commission
Steven J.Alexander,CityManager
May 13,2014 AgendaItem No.:_S
Subject:
Background:
Transfer Amount:
Transfer From:
Transfer To:
AResolution relating to budget;authorizingatransferof
$3,500fromDebtService Principal,settlements accountto
Debt Service Interest account for $500 and Debt Service
Fees account for $3,000.
Itis requested thatthebudgetfor Debt ServiceInterestbe
increased by$500 and DebtService Fees be increased by
$3,000 from account No.201.1410.519.7110.Itis essential
to provide sufficient fundsfor Debt Service Interest and
Debt Service Fees to reduce deficiencies in the
aforementioned budgeted lineitems.
$3,500
Account number 201.1410.519.7110 Debt Service
Principal,with a current balance of $20,000.
$500 to account number 201.1410.519.7210,Debt Service
Interest,with a current balance of -$460 and $3,000 to
account number 201.1410.519.7310,Debt ServiceFees,
with a current balance of -$2,927.