CC 03/14/2022 Minutes - Laserfiche WebLink

Home Browse Search

CASSELBERRY CITY COMMISSION Minutes of March 14, 2022 — Regular Meeting Page 8 of 12 voters. In response to a question from the City Commission, Mr. Newlon clarified that the City would not begin paying interest on the bonds until the bond closing has occurred. Budget Impact: Approval of Budget Amendment #22-022 will increase the Parks Master Plan Fund Other Debt Service Cost account #307-0190-517.73-00 in the amount of $120,000, Parks Master Plan Fund Debt Proceeds account #307-0000-384.00-00 in the amount of $7,523,982 and decrease Other Non - Operating Sources account #307-0000-389.90-00 in the amount of $7,403,982. Debt proceeds in the amount of $10,476,018 have been budgeted in the Parks Master Plan Fund Debt Proceeds account #307- 0000-384.00-00. Funds for the capital costs in the amount of $10,476,018 have been budgeted in various capital accounts within the Parks Master Plan Fund. The balance of expenditures related to the Series 2022B Bond will be requested in the Fiscal Year 2023 Proposed Budget in the Parks Master Plan. BA #22-022 Explanation of Request: This item seeks City Commission approval to provide funding for Parks Master Plan General Obligation Bond, Series 2022A and Series 2022B issuance costs in the amount of $120,000 and recognize additional debt proceeds in the amount of $7,523,982. Account Number Account Description Amount Increase: 307-0190-517.73-00 Other Debt Service Cost $ 120,000 307-0000-384.00-00 Debt Proceeds $7,523,982 Decrease: 307-0000-389.90-00 Other Non -Operating Sources $7,403,982 Recommendation: The City Manager and the Finance Director recommended approval of Resolution 22- 3294 and related Budget Amendment #22-022. Audience Participation: No one came forward to address Resolution 22-3294 and related Budget Amendment #22-022. MOTION: Vice Mayor Aramendia moved to approve Resolution 22-3294 and related Budget Amendment #22-022, as presented. Motion was seconded by Commissioner Busch. Motion carried unanimously by voice vote 5-0. B. Resolution 22-3298 — Annual Comprehensive Financial Report for Fiscal Year 2021 The City Clerk read Resolution 22-3298 by title, as follows: "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, ACCEPTING THE ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDING SEPTEMBER 30, 2021; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE."