REQUESTED ACTION (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a Resolution to authorize the Administrative Reprogramming of certain funds relating to the Fulton County, Georgia General Obligation Library bonds Series 2010 A/B and related matters. (APPROVED)
body
REQUIREMENT FOR BOARD ACTION (Cite specific Board policy, statute or code requirement)
Approval of attached Resolution
STRATEGIC PRIORITY AREA RELATED TO THIS ITEM (If yes, note strategic priority area below)
Open and Responsible Government
COMMISSION DISTRICTS AFFECTED
All Districts ?
District 1 ?
District 2 ?
District 3 ?
District 4 ?
District 5 ?
District 6 ?
IS THIS A PURCHASING ITEM?
No
SUMMARY & BACKGROUND (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: Finance recommends approval of the attached Resolution related to the 2010 A/B Library bond project fund. Currently, of the $167 million issued for Library capital projects, only approximately $5 million remains, consisting of accumulated interest earnings and unutilized funds on completed Phase 1 library projects. The 2017 Library bond project fund includes the Central Library project, which is almost complete. This reprioritization of this project will allow a portion of the Central Library to be assigned to the 2010 project fund, allowing those remaining 2010 funds to be fully utilized on existing Library master plan projects.
Community Impact: This Resolution will allow for the final disbursement of 2010 projects funds for library improvements as approved in the Library Master plan.
Department Recommendation: Finance recommends approval.
Project Implications: This authorization allows administrative reprogramming to facilitate expenditure of the remaining funds for the 2010 Library bond project fund including accumulated interest earnings.
Community Issues/Concern...
Click here for full text