Title
Joint resolution authorizing an emergency appropriation in the amount of $7,294,300 to fund two projects in Fiscal Year 2012, with said funding to be provided by FY 2011 Fund Balance.
Staff Summary
· The Motor Fuel Tax Capital Project Program for FY 2012 was discussed as part of the FY 2012 recommended budget, which will be approved in November 2011.
· Two major projects, Petite Lake Road in the amount of $3,629,200, and the Quentin Road (Rue Royal to White Pine) project in the amount of $3,665,100, are being funded out of reserves existing in FY 2011.
· An emergency appropriation of $7,294,300 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 Motor Fuel Tax 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 two projects, Petite Lake Road and Quentin Road (Rue Royal to White Pine), have not been appropriated in the FY 2012 Motor Fuel Tax budget.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois that an emergency appropriation in the amount of $7,294,300 is hereby authorized in the FY 2011 Motor Fuel Tax budget; and
BE IT FURTHER RESOLVED, the funds will be appropriated in account 268-4300030-85020-000-000-000-00000.
DATED at Waukegan, Lake County, Illinois, on November 8, 2011.