www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - January 26, 2016
REVISED January 26, 2016 - Regular Meeting
Agenda Item #32


Subject
Interfund Loan for the 44th Avenue East Project

Briefings
None

Contact and/or Presenter Information
Jan Brewer, Director, Financial Management, x3726

Action Requested
Adopt Resolution R-16-015 and Budget Amendment B-16-031 for an Interfund Loan from the Transportation Trust Fund (Fund 101) to the 5th & 6th Cent Gas Tax Fund (Fund 307) for $3,500,000 for construction related costs for the 44th Avenue East - 19th Street Court East - 30th Street East project, as approved in the FY16-20 CIP.

Enabling/Regulating Authority
Section 163.1 of the Florida Statutes

Background Discussion

The Board approved $3,500,000 of funding for FY16 in the FY16-20 CIP for the 44th Avenue East - 19th Street Court East - 30th Street East project, with the funding source being debt proceeds. This project was reviewed during the October 13, 2015 Debt Work Session with our Financial Advisor, Ed Bulleit. It is anticipated these funds will be repaid through debt issuance within the next several months as discussed during the work session.

Public Works has determined that it is necessary at this time to begin utilization of the $3,500,000 programmed in the FY16-20 CIP for the 44th Avenue East - 19th Street Court East - 30th Street East project for construction related costs.

Reimbursement Resolution R-15-119 dated August 25, 2015 established the County's intent to reimburse certain capital expenditures with proceeds from tax exempt financing.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records

Copies of Resolutions to:
budget@mymanatee.org
lori.stephens@manateeclerk.com
susan.flowers@manateeclerk.com
robin.hamilton@manateeclerk.com
abby.lindecamp@manateeclerk.com



Cost and Funds Source Account Number and Name
307.6045660

Amount and Frequency of Recurring Costs
N/A


Attachment:  R-16-015-Interfund-Loan-44th Avenue.pdf
Attachment:  B-16-031 44th Ave-19th St Ct E-30th St E.pdf