Title
Joint resolution authorizing an emergency appropriation of $18,163.39 for interest earned in the FY 2012 2011A Road Construction Bond fund for road improvements to public roads within the County, and designated as Section 11-00999-19-GB.
Staff Summary
· Lake County 2011A Road Construction Bond Fund: Emergency Appropriation.
· The Lake County Board, at its meeting of March 15, 2011, approved the issuance of General Obligation Bonds (Sales Tax Alternate Revenue Source).
· The Lake County Board, at its meeting of June 14, 2011, appropriated $21,815,896.70 to the Road Construction Bond fund.
· This resolution appropriates $18,163.39 for interest earned to the FY 2012 2011A Road Construction Bond fund budget.
Body
R E S O L U T I O N
WHEREAS, the Lake County Board, at its meeting of March 15, 2011, approved the issuance of General Obligation Bonds (Sales Tax Alternate Revenue Source); and
WHEREAS, Lake County Board, at its meeting of June 14, 2011, appropriated $21,815,896.70 to the Road Construction Bond fund; and
WHEREAS, it is now necessary to appropriate and budget funds for $18,163.39 of interest earned to the Road Construction Bond fund.
NOW, THEREFORE BE IT RESOLVED by this Lake County Board, that an emergency appropriation is approved for $18,163.39 of interest earned in the FY 2012 2011A Road Construction Bond fund expenditure budget, 404-4300030-85020-000-000-000-00000, for road improvements to public roads within the County and designated as Section 11-00999-19-GB.
DATED at Waukegan, Illinois, on April 10, 2012.