HomeMy WebLinkAboutMO # 767Municipal Order No. ?6 I
A MUNICIPAL ORDER CONCERNING THE TRANSFER OF
FUNDS FROM THE GENERAL FUND TO THE INFRASTRUCTURE
IMPROVEMENTS FUND DEDICATED TO ADDRESSING INFRASTRUCTURE
NEEDS OF THE CITY OF PADUCAH
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Finance Director is hereby directed to transfer
$1.149 million from the General Fund's fund balance to the Infrastructure Improvement
Fund (fund number 040) effective December 1, 1997.
SECTION 2. For subsequent years, the amount to be transferred from the
General Fund's fund balance to the Infrastructure Improvement Fund shall be calculated
for each fiscal year as follows:
General Fund's fund balance (for each fiscal year) minus 8% of the
General Fund's audited expenditures and transfers (for each fiscal
year) a gals the amount to be transferred.
SECTION 3. This Order shall remain in effect until rescinded or modified
by action of the Board of Commissioners of the City of Paducah.
SECTION 4. This Order shall be effective from and after the date of its
adoption.
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ATTEST:
Lenita Smith, City Clerk
Adopted by the Board of Commissioners October 14, 1997
Recorded by Lenita Smith, City Clerk, October 14, 1997
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