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39.

Meeting Date:	03/24/2015
Funding for Debt Defeasance
Submitted By:	Julie Kiley, County Auditor
Department:	County Auditor
Agenda Category:	Regular Agenda Items

Information

Agenda Item

Discuss and take appropriate action in identifying the source(s) of funding for the Debt Defeasance approved on Feb 24, 2015.

Background

On Feb 24, 2015 the court took action to Authorize the Redemption of County's Outstanding Bonds. The estimated total defeasance is $2 million. During the adoption of the budget for FY 2015 the discussion included that $537,243 from the General Fund would be put toward Debt Defeasance. This represented the amount of revenue that is generated from the adoption of the tax rate that exceeded budgeted expenditures. This item is to clarify that this $537,243 will be applied toward this defeasance and provide direction for the funding of the balance of the approximate $2 million. This will allow staff to place the appropriate budget amendments on a future agenda once the dollar amount of the defeasance is finalized.

Fiscal Impact

From/To	Acct No.	Description	Amount

Attachments
No file(s) attached.

Form Review

Inbox	Reviewed By	Date
County Judge Exec Asst.	Rebecca Clemons	03/19/2015 11:54 AM
Form Started By: Julie Kiley		Started On: 03/19/2015 08:14 AM
Final Approval Date: 03/19/2015