R02-172 RESOLUTION 02- / 7 02_
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORDA, APPROVING
THE BALANCE OF FUNDS IN THE CRA FUND ON
SEPTEMBER 30, 2002, BE TRANSFERRED TO A
SEPARATE INDEPENDENT CRA OPERATING
ACCOUNT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, at the request and recommendation from the Board of the CRA, the
balance at September 30, 2002 in the CRA Fund ear-marked for the operation of the
will be transferred to a separate bank CRA operating account, under the direct
mpervision and control of the CRA Board; and
WHEREAS, the CRA shall provide the City with monthly accounting summaries
annual accounting summaries; and
WHEREAS, it is understood and agreed that if at any time the CRA Board is
:l by the City Commission, or the City Commission elects to reassume control of the
then in that event all of the funds remaining in the separate CRA operating bank
will revert to the CRA Fund within the City's general operating fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The foregoing Whereas clauses are true and correct and are adopted as
basis for the following transfer of funds.
Section 2. The City Commission hereby authorizes the transfer of the fund
~alance at September 30, 2002, in the CRA Fund Budget which has been ear-marked for the
be transferred to a separate bank operating account for the CRA, under the direct
~ervision and control of the CRA Board.
Section 3. It is understood and agreed that if at any time the CRA Board is
by the City Commission, or the City Commission elects to reassume control of the
CRA, then in that event, all of the funds remaining in the separate CRA operating bank
account will revert to the CRA Fund within the City's general operating fund
Section 3. That this Resolution will become effective immediately upon passage.
PASSED AND ADOPTED this / S_~
day of October, 2002.
Commissione r~.- ~-~Tc~'//A"x-ff
Commis si~..n~_e~_.
~ missi~~ ~
I~ity Clerk-~q~ct xxxxx}xu~?2tt~Z
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