|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - July 30, 2013|
Agenda Item #23
Interfund Loan Resolution R-13-118
Contact and/or Presenter Information
Contact Jan Brewer, Division Budget Manager, Ext 3726
Adoption of Resolution R-13-118
Florida Statute 129
The Board of County Commissioners approved moving ahead with the Blackstone Park ballfields on 9/11/2012.
There are currently not sufficient funds in the park impact fee fund for the project, so the plan was to be financed through an interfund loan from the General Fund.
Based on current rate and trend of the underlying impact fees, our current projection is that the impact fees will be sufficient to pay back the loan within thirty months.
Resolution R-13-118 authorizes an interfund loan of $2,500,000 to finance the county share of the project. $800,000 has been contributed by the City of Palmetto. If additional contributions for the project are received, the loan amount may be reduced.
County Attorney Review
Not Reviewed (No apparent legal issues)
Explanation of Other
Instructions to Board Records
Signed copies of resolution to firstname.lastname@example.org, email@example.com, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org, email@example.com.
Cost and Funds Source Account Number and Name
General Fund Loan to Countywide Parks Impact Fee Fund
Amount and Frequency of Recurring Costs
$2,500,000 one time loan
Attachment: R-13-118 Blackstone Park - borrow from GF.pdf