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<br />RESOLUTION # 03- 1423 <br /> <br />"A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />CASSELBERRY ESTABLISHING A RESERVE FUND BALANCE <br />POLICY; PROVIDING FOR CONFLICTS, SEVERABLlTY AND <br />EFFECTIVE DATE." <br /> <br />WHEREAS, the City of Casselberry needs to establish a reserve of its <br />unreserved fund balances; and <br /> <br />WHEREAS, the development and use of adequate levels of unreserved fund <br />balance will keep guard against uncertainties. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY <br />COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, <br />AS FOLLOWS: <br /> <br />SECTION I. The City Commission hereby approves the establishment of a <br />reserve of fund balance, of twenty-five percent (25%) for the General Fund and <br />fifteen percent (15%) for the Water & Sewer Fund. <br /> <br />SECTION II. Conflicts. All resolutions or part of Resolutions in conflict with <br />any of the provisions of this resolution are hereby repealed. <br /> <br />SECTION III. Severabilitv. If any Section or portion of a Section of this <br />Resolution proves to be invalid, unlawful, or unconstitutional, it shall not be held <br />to invalidate or impair the validity, force, or effect of any other Section or part of <br />this Resolution. <br /> <br />SECTION IV. Effective Date. This resolution shall be effective immediately <br />upon its passage and adoption. <br /> <br />PASSED and ADOPTED this 9~ dayof !~ .AD2003. <br /> <br />ATTEST: <br /> <br />;/UdVV'-/ 1h1tL~ <br /> <br />Thelma 1. McPherson <br />City Clerk <br /> <br />~q;~ <br /> <br />Bruce A. Pronovost <br />Mayor/Commissioner <br />