Title
Joint resolution authorizing an emergency appropriation in the amount of $17,210,800 to fund three projects in Fiscal Year 2012, with said funding to be provided by FY 2011 Fund Balance.
Staff Summary
· The ¼% Sales Tax for Transportation and Public Safety Capital Project for FY 2012 was discussed as part of the FY 2012 recommended budget, which will be approved in November, 2011.
· Three major projects: Peterson Road project, West of IL Rte. 83 to West of U.S. Rte. 45, in the amount of $12,960,800; Cedar Lake Road project, IL Rte. 120 to IL Rte 60, in
the amount of $2,828,900; and Delany Road project, York House Road to Wadsworth Road, in the amount of $1,421,100 are being funded out of reserves existing in FY 2011.
· An emergency appropriation of $17,210,800 is requested for these capital improvements to be funded out of reserves.
Body
R E S O L U T I O N
WHEREAS, Lake County has approved the ¼% Sales Tax for Transportation and Public Safety capital improvement plan for FY 2012 as discussed as part of the FY 2012 budget, which will be approved in November, 2011; and
WHEREAS, the funds for three projects: Peterson Road, West of IL Rte. 83 to West of U.S. Rte. 45; Cedar Lake Road, IL Rte. 120 to IL Rte. 60; and Delany Road, York House Road to Wadsworth Road, have not been appropriated in the FY 2012 ¼% Sales Tax for Transportation and Public Safety budget.
NOW, THEREFORE, BE IT RESOLVED, by this Lake County Board, that an emergency appropriation in the amount of $17,210,800 is hereby authorized in the FY 2011 ¼% Sales Tax for Transportation and Public Safety budget; and
BE IT FURTHER RESOLVED, the funds will be appropriated in account 269-4300030-85020-000-000-000-00000.
DATED at Waukegan, Lake County, Illinois, on November 8, 2011.