HomeMy WebLinkAbout3963-08/09/1993ORDINANCE NO. 3963
AN ORDINANCE AMENDING THE 1988 CODE OF
ORDINANCES OF THE CITY OF WATERLOO, IOWA, BY
ADDING SECTION 2-20, GENERAL FUND BALANCE
ESTABLISHED, TO DIVISION 1, GENERALLY, OF
ARTICLE II, THE COUNCIL, OF CHAPTER 2,
ADMINISTRATION.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA:
That Section 2-20, General Fund Balance Established, of
Division 1, Generally, of Article II, The Council, of Chapter 2,
Administration, of the 1988 Code of Ordinances of the City of
Waterloo, Iowa, is hereby added as follows:
Section 2-20. General Fund Balance Established.
The City of Waterloo shall establish and maintain a minimum
level of year-end General Fund Cash Balance of no less than five
percent (5%) of the total General Fund revenue budgeted or amended
each fiscal year. The City Council shall adopt the annual
operating budget each fiscal year in a manner consistent with the
required minimum level of year-end cash balance. Budget deficit
reduction measures shall be taken in the course of each fiscal year
should it be determined that without such measures the General Fund
cash balance would fall below the required minimum level of year-
end General Fund cash balance at the close of that fiscal year.
Upon adoption of this ordinance, the City Council shall
dedicate no less than fifty percent (50%) of the net increase of
the taxable valuation to be set aside in the Fiscal Year Budgets
1995, 1996, 1997, and 1998 to appropriate the needed increase in
General Fund cash balance, or until the minimum level of five
percent (5%) General Fund cash balance is achieved. The General
Fund cash balance shall be at the minimum required level of five
percent (5%) of annual General Fund revenue no later than June 30,
1998.
INTRODUCED
PASSED 1ST CONSIDERATION:
PASSED 2ND CONSIDERATION:
PASSED 3RD CONSIDERATION:
July 26, 1993
July 26, 1993
August 2, 1993
August 9, 1993
PASSED AND ADOPTED by the City Council this 9th day of August,
1993, and approved by the Mayor this 11th day of August, 1993.
ATTEST:
i0
Tom Cam••ell, ►-puty C erk/Auditor
Albert C.' Manning, Jr., Mayo
CERTIFICATE
I, Tom Campbell, Deputy Clerk/Auditor of the City of Waterloo,
Iowa, do hereby certify that the preceding is a true and complete
copy of Ordinance No. 3963, as passed and adopted by the Council of
the City of Waterloo, Iowa, on the 9th day of August, 1993.
Witness my hand and seal of office this 11th day of August,
1993.
Tom CDeputtei
y Clerk/Auditor
BOOK 3081%4)13
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Page 13
244
Recorder
Deputy
Fee 1-5.00/
City of Waterloo
Clerk/Auditor
BOOK 3O8 PAGE O14
FORM 1 1 T.
STATE OF IOWA, SS I do solemnly swear that the annexed copy of legal City of Waterloo
Black Hawk County, Ordinance No. 3963
ORDINANCE NO. 3963
AN ORDINANCE AMENDING THE
1988 CODE OF ORDINANCES OF
THE CITY OF WATERLOO, IOWA,
BY ADDING SECTION 2-20, GEN-
ERAL FUND BALANCE ESTAB-
LISHED, TO DIVISION 1, GENER-
ALLY, OF ARTICLE II, THE COUN-
CIL, OF CHAPTER 2, ADMINIS-
TRATION.
BE IT ORDAINED BY THE CITY
COUNCIL OF THE CITY OF
WATERLOO, IOWA:
That Section 2-20, General Fund
Balance Established, of Division 1,
Generally, of Article II, The Council,
of Chapter 2, Administration, of the
1988 Code of Ordinances of the
City of Waterloo, Iowa, is hereby
added as follows:
Section 2-20. General Fund
Balance Established.
The City of Waterloo shall establish
and maintain a minimum level of
year-end General Fund Cash
Balance of no less than five percent
(5%) of the total General Fund rev-
enue budgeted -or amended each
fiscal year. The City Council shall
adopt the annual operating budget
each fiscal year in a manner consis-
tent with the required minimum
level of year-end cash balance.
Budget deficit reduction measures
shall be taken in the course of each
fiscal year should it be determined
that without such measures the
General Fund cash balance would
fall below the required minimum
level of year-end General Fund
cash balance at the close of that fis-
cal year.
Upon adoption of this ordinance,
the City Council shall dedicate no
less than fifty percent (50%) of the
net increase of the taxable value-
tion•to be set aside in the Fiscal
Year Budgets 1995, 1996, 1997,
and 1998 to appropriate the needed
increase in General fund cash bal-
ance, or until the minimum level of
five percent (5%) General Fund
cash balance is achieved. The
General Fund cash balance shall
be at the minimum required level of
five percent (5%) of annual General
Fund revenue no later than June
30,1998.
INTRODUCED July 26, 1993
PASSED 1ST CONSIDERAT'ON:
July 26, 1993
PASSED 2ND CONSIDERATION:
August 2, 1993
PASSED 3RD CONSIDERATION:
August 9, 1993
PASSED AND ADOPTED by the
City Council this 9th day of August,
1993, and approved by the Mayor
this 11th day of August, 1993.
Albert C. Manning, Jr., Mayor
ATTEST:
Tom Campbell, Deputy Clerk /
Auditor
notice was published in the Waterloo -Cedar Falls Courier, a daily newspaper printed in
Waterloo, Black Hawk County, Iowa, once commencing on the 23rd
day of August 19 93 in the name of
said newspaper, and that the annexed rate of advertised is the regular legal rate of said
newspaper, and that the following is a correct bill for publishing said notice.
Printer's Bill $ 20.44
Signed
/
Subscribed and sworn to before me this e -J J' day of
c„7 -K) &c,(
A.D., 19
Received of
Notary Public
the sum of
in full for publication of the above notice.
Dollars