Ord 1798COUNCIL BILL N0. 700
ORDINANCE N0. 1798
AN ORDINANCE AUTHORIZING THE TRANSFER OF APPROPRIATIONS DURING THE FISCAL YEAR
1982-83 AND DECLARING AN EMERGENCY.
WHEREAS, the City of Woodburn has been charged by the Circuit Court
of Appeals the allocated amount of $566,599 for the Marion County investment pool
loss, and
WHEREAS, the sinking fund set up to pay the anticipated loss does not have
sufficient funds and appropriations to pay the court ordered judgment, and
WHEREAS, Oregon Revised Statutes 294.450 allows the transfer of appropria-
tions within a given fund, and from the General Fund to any other fund, when
authorized by official ordinance or resolution of the governing body during the year
for which the appropriations are made, and
WHEREAS, there is a need to transfer appropriations within the Sewer
Capital Improvement Fund, Street and Storm Drainage Capital Improvement Fund, Water
Well Construction Fund and City Hall Construction Fund, and also the need to transfer
appropriations from the General Fund Contingency Account to the Marion County Loss
Sinking Fund, and
WHEREAS, it is also necessary to expend an allocated amount from the
Contingency Account of Technical and Environmental Services, Street Fund, Water Fund
and Waste Water Collection and Disposa] Fund, and
WHEREAS, as interest on the City's investments are 9/ or less it is in
the best interest of the City to pay the judgment in full rather than arrange with
the Court fora time payment plan with interest of 9% on any unpaid amount of the
judgment,
Page 1 -COUNCIL BILL N0: 700
ORDINANCE N0.
THE CITY OF WOODBURN ORDIANS AS FOLLOWS:
Section 1, That the following budget transfer appropriations are hereby
authorized:
SEWER CAPITAL IMPROVEMENT FUND
Transfer from Capptal Outlay $Z,o00
Transfer to Marion County Investment
Pool Loss Debt Service $2,000
STREET & STORM DRAIN CAPITAL IMPROVEMENT FUND
Transfer from Capital Outlay $1,000
Transfer to Marion County Investment
Pool Loss Debt Service $1,.000
PARK & RECREATION CAPITAL IMPROVEMENT FUND
Transfer from Capital Outlay $1,000
Transfer to Marion County Investment
Pool Loss Debt Service $1,000
WATER WELL CONSTRUCTION FUND
Transfer from Capital Outlay $7,000
Transfer to Marion County Investment
Pool Loss Debt Service $7,000
CITY HALL CONSTRUCTION FUND
Transfer from Capital Outlay $1,000
Transfer to Marion County Investment
Pool Loss Debt Service $1,000
GENERAL FUND CONTINGENCY ACCOUNT
Transfer from General Fund Contingency $20,000
Transfer to Marion County Loss Sinking
Materials and Services $20,000
Section 2. That the following expenditures from contingency accounts
be authorized.
Page 2 -COUNCIL BILL N0. 700
ORDINANCE N0. 1798
Technical Environmental Services Contingency $7,000
Street Fund Contingency $7,000
Water Fund Contingency $7,000
Waste Water Collection and Disposal
Fund Contingency $7,000
Section 3. This ordinance being necessary for the immediate preservation
of the public peace,,health and safety, in that appropriations must be adopted prior
to the expenditure of funds, an emergency is declared to exist and this ordinance
shall take effect immediate]y upon passage by the Council and approval by the
Mayor.
Approved as to form: ~~ ~ ~ ~%
~~ ~ y ttorney Date
~, ~~.
APPROVED :;~~-~~.
WILLIAM COSTI ,MAYOR
Passed by the Council December 13, 1982
Submitted to the Mayor December 14, 1982
Approved by the Mayor December 14, 1982
Filed in the Office of the Recorder December 14, 1982
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ATTEST:: ~ .~.: ~~;~ ~. . ,.ter .-
AR EY 0. UR S, Recorder
City of Woodburn, Oregon
PAGE 3 - COUNCIL BILL N0. 700
ORDINANCE NO. 1798