HomeMy WebLinkAbout2021-04-8687ORDINANCE NO. 2021-04-8687
AN ORDINANCE AMENDING ORDINANCE NO. 2020-6-8641,
ENTITLED, "AN ORDINANCE ADOPTING THE CITY OF PADUCAH,
KENTUCKY, ANNUAL OPERATING BUDGET FOR THE FISCAL YEAR JULY 1,
2020, THROUGH JUNE 30, 2021, BY ESTIMATING REVENUES AND
RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY
GOVERNMENT."
WHEREAS, in December of 2020, the City of Paducah passed Ordinance
2020-12-8664, approving an Interlocal Cooperative Agreement between the City of
Paducah, Industrial Development Authority and GPED; and
WHEREAS, McCracken County is the recipient of annual payments under
the Regional Development Agency Assistance Program (RDAAP); and
WHEREAS, the Interlocal Cooperative Agreement requires that
McCracken County designate the annual RDAAP funds to the IDA.
WHEREAS, the Interlocal Cooperative Agreement requires that the City
match the annual RDAAP Funds and make payment to the IDA.
WHEREAS, funds now need to be transferred into an appropriate account
for in order to make the contribution to the IDA; and
WHEREAS, KRS prohibits expenses to exceed the budget in any
department and it is therefore necessary to amend the City's FY2021 budget.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1. That the annual budget for the fiscal year beginning July 1,
2020, and ending June 30, 2021, as adopted by Ordinance No. 2020-6-8641, be amended
by the following re -appropriations:
Transfer $154,000 from the Debt Service Fund Reserve to the
Investment Fund IDA Account.
SECTION 2. This ordinance shall be read on two separate days and will
become effective upon summary publication pursuant to apter 424.
George Bray, Mayor
ATTE T: L
ndsay Parish, Ci Clerk
Introduced by the Board of Commissioners, April 13, 2021
Adopted by the Board of Commissioners, April 27, 2021
Recorded Lindsay Parish, City Clerk, April 27, 2021
Published by The Paducah Sun, April 30, 2021
\ord\finance\budget amend 2020-21 - April 2021