HomeMy WebLinkAboutORD 869 Transfering Excess Monies
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, ORDINANCE~ NUMBER 869 .
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AN, ORDINANCE TMN$FIDRRING ~CESS MONIES ~OW STANDING TO
THE CREDIT OF THE FOLLOWING FUNDS OF THE CITY OF WEST
UNIVERSITY PLACE, TEXAS, TO THE GENERAL FUND OF THE
CITY OF WEST UNIVERSITY PLACE, TEXAS:
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SANITARY SEWER CAPITAL IMPROVEMENT FUND
WATER-SEWER FUND
INSURANCE RESERVE FUND
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AND DECLARING AN :EMERGENCY.
$60 ,000.00
70,000..00
12,000.00
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WHEREAS, the City, Treasurer of the City of West University
Place, Texas, pu,rsuant to earlier request, for information:~on the matter
by the City COIJImission, '~as certified t:p.e e:x:i,stence 'of certain sums of
money to the cr~dit of ,specifie~ funds in e~cess of needs and re~uire-
ments therein.andthereforj and
NOW, THEREFORE; BE. IT.ORDAINED BY THE CITY COMMISSION OF THE
CITY OF WEST UNIVERSITY PLACE, TEXAS:
Section 1. That the City Commission of the City of West
University Place, Texas does hereby find and determine that there are
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in the Treasury of the City of West University Place, certain sums of
money to the credit of the following listed funds and in excess of the
sums stated, to wit:
L City of West University Place, Texas,
Sanitary Sewer Capital Improvement Fund,
surplus monies now found to be receipts
and revenues in excess of the reasonable
requirements and purposes for which said
Furid was established. . . . . . . . . . $60,000.00
2. Water-Sewer Fund, excess in the amount of. 70,000.00
3. Insurance Reserve Fund, excess in the amount of 12,000.00
and all of which sums are in excess of all budgeted items. and in excess
of reasonably anticipated re~uirements and needs in' the reasonably forsee-
able future, and in excess of sums otherwise re~uired to be maintained in
said respective funds, and therefore which are available for transfer to 0
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the General Fund of the City; and that therefore, said listed funds are
available for other uses and purposes by the city.
Section 2. That it will be to the best interest, and for the
greater benefit, of the City of West University Place, Texas, that said
excess funds be ,transferred to the Geriera 1 Fund of the City.
Section 3. That the several sums of money to the credit of the
respective funds of the City of West University Place, Texas, as above set
out, and aggregating $142;000.00, should be and the same are hereby, each
transferred and delivered to the credit of the Gerieral Fund of the City
of West University Place, Texas.
Section 4. That the City Treasurer is hereby authorized and
directed to effect each of said respective transfers, .so that the aggregate
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of said funds is immed;i..ately available " for appropriation for the purposes
and for the benefit of the City of West University Place, Texas.
Section 5. That the fact that ,the city has need of said funds
herein ordered transferred for immediate and o~her purposes of the City,
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creates a public emergency, and therefore tl1is 'ordinance shall be passed
finally, on the date of, ,its ,introduction, this 25th day of July, 1966, and
shall take effect immediately upon its passage and approval by the Mayor.
PASSED this 25th day of July, 1966.
Commissioners Voting Aye: All
Commissioners Voting No: None
APPROVED this 25th day of July, 1966.
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Mayor
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