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Home My WebLink AboutRESOLUTION 11-96C__RESOLUTIONTOAPPROPRIATESUMSOFMONEY#11—96ARESOLUTIONTOSUPPLEMENTTHETOWNOFESTESPARK’S1996COUNITYREINVESTMENTFUNDPARKENTRANCEESTATES5.1.0.#95-1FUND,SPECIALASSESSMENTDEBTSERVICEFUND,ANDSPECIALEVENTSFUNDBUDGETSANDTOAUTHORIZEATEMPORARYCASHADVANCEFROMLIGHTANDPOWERFUNDTOTHECOdUNITYREINVESTMENTFUNDWHEREAS,theTownofEstesParkhasdeterminedtoconstructtheDannelsFireStation,additionalfundswillbeborrowedfromtheTownofEstesParkLightandPowerFund,andthe1996CommunityReinvestmentFundbudgetneedstobesupplemented;andWHEREAS,theTownofEstesParkhasdeterminedtoproceedwiththeParkEntranceEstates5.1.0.#95-1improvements,a1996budgetneedstobeestablished;andWHEREAS,aDebtServiceFundisneededtoaccountforthepaymentofprincipalandinterestoftheParkEntranceEstates5.1.0.#95-1bondissue,a1996budgetwillneedtobeestablished;andWHEREAS,theTownofEstesParkhasdeterminedtoconstructarestroomattheStanleyParkFairgroundstomeettheAmericanswithDisabilitiesActrequirements,thatthe1996budgetneedstobesupplemented.NOW,THEREFORE,BEITRESOLVEDBYTHEBOARDOFTRUSTEESOFTHETOWNOFESTESPARK,COLORADO:1.THATtheLightandPowerFundtransfertotheCommunityReinvestmentFundaloanofapproximately$587,525toberepaidfromthefutureexcessTaborFunds.TheloanwillearninterestattheaveragerateofreturnfromotherTowninvestments.2.THATtheCommunityReinvestmentFund1996Budgetbeincreasedfrom$997,338to$1,303,648.SourceoffundswillbetheloanfromtheLightandPowerFund.3.THATtheparkEntranceEstates5.1.0.#95-1Fundbeincreasedfrom$-0-to$440,000.SourceoffundswillbetheS.I.D.bondproceedsandassessmentcollections.4.THATthe5.1.0.#95-1DebtServiceFundbudgetbeestablishedat$3,300.ThecapitalizedinterestfromtheS.I.D.bondsalewillbethesourceoffunds.5.THATtheSpecialEventsFund1996Budgetbeincreasedfrom$469,360to$544,360.Sourceoffundsisthebeginningfundbalance.ADOPTEDthis28thdayofMay1996.ATTEST:MS’yorIDeputyTownClerk