Title
Resolution authorizing an emergency appropriation in the amount of $7,822.50 in the 2008 Bond Construction Projects Fund FY12 budget in order to expend remaining cash proceeds of the Series 2008 bond issuance.
Staff Summary
· The 2008 Bond Construction Projects Fund was used to account for the expenses associated with the Central Permit Facility (CPF) and Consolidated Environmental Laboratory, the Health Department Building and the Lake County Branch Court in Park City projects.
· Upon the completion of all the projects there is $7,822.50 remaining.
· Eligible building improvement expenses at CPF have been incurred in FY12 which could exhaust remaining funds.
· An emergency appropriation is necessary to budget the remaining funds so that the fund can be closed out.
Body
WHEREAS, Lake County has residual funds remaining in the 2008 Bond Construction Projects Fund in the amount of $7,822.50 upon completion of the associated projects; and
WHEREAS, eligible expenses were incurred in Fiscal Year 2012 which could exhaust the remaining 2008 Bond Construction Projects Fund; and
WHEREAS, the expense in the amount of $7,822.50 was not appropriated in the FY2012 budget; and
WHEREAS, an emergency appropriation is necessary to provide funding for allowable expenses and close this fund.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation in the amount of $7,822.50 is hereby authorized in Fiscal Year 2012 in expense account 400-1103380-82010- 000-000-000-00000.
DATED at Waukegan, Lake County, Illinois, on February 12, 2013.