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HomeMy WebLinkAboutFI 26/98� r � s � � 'Y � . 1 - , ,,+ . -,.. . "._: ;. .: S + t � ..�- .. �, . ' .. "� ._�. : ... RECEIVED , ' S -�NO1� TOWNOFPIC�(EFINO ^ +`� JUL 3 1 1998 �� � r ,� CLERK'S DEPARTMENT � � i REPORT TO COUNCIL � @'ROMs (3illis A. Patec�on DATE: July 30,199B Director of Finence & Trea�um REPORTD:UMSER: FI26/98 (Supplement to PF 08-98) SUHJECPs Hiring of Coasultany, and Project Development/Const:uction Maaagement Servica Compmy to inidate the work approved by Resolution N I 14/98 RECOM1�fENDATION: � That Report F 26/98 be received aad that, ia conjunction with the consideradon of Repon PF 08-98, Council approve: L t6e Enancing of expenditura ia the amouat of 590,000 for contracb end SI0,000 for dtsbutsements tfuough eitl►er: (a) tha iesuaace of debeauud end the Dirccwr of Ftaeoa and Treasum be authoriud to amcnd the aanuel rcpayment Itmit rapecting laag-term debt and financiel obligadoas. or (b) capital expendituns from current revmuw through deletion of another project finenced thi� wey. 2. Estimatad diabt¢semen� ia the emouat of i10,000 a� described in Report PF 08-96 ba �� OItIGIAI: Council RaolutIon N114/98 AU'fHOR1TY: Resolution of Council . FINANCIAL III�LI�:AT[ONS: : Ia conjunctton with approving a capitel expenditure, Couacil mwt also coosider the aoures(s) of 6nnncing. At thi� time Uute eppeers to be only two potendal sources: ' bauance of debt; or, aubsdtutIon of a�imilar doUar amount of cepital pr�Ject(s) fuieaced hom curtent revmua. Any expenditurea approyed by Couacil under tht� Report or Report PF OB-98 wiQ be : charQed w Account 3264-2572-6181. � EXECUTIVE SUMMARY: ` Not applicable < , ;<; ' ; ` . .,`. ..'t . ..�._ ... jl_ ., . , , ._ �� . ".I irP3 � ' � 1 � ati� t. � : � v� � � . 1�A ��: 1 t` �,' ;_ ;;,' �. � u � � , tteepoc� �o cou�icii Ft 2br9e ��� `� � � �, ' {ui 30, ��s . y �S.1i � tt i y t� � P y� „ f .,_� i t�;: � .�Y,� f � _-. �; ,. ". ,:. � . �; � SubJaG Hldna`ofCon�ultaqb, and'Pio)ect pevelopme�it/Conatnict(on MeneQemint r Setvt�es C'�Ompaay m(niilnte tbe work epproved by Reeoluttoq NI 14/98 �: . ` Page 3 , ':�� `!, ` , "� . a. HACKGROUNDs Aa mendoned above, Council musNdetemilpo a saurce of funds foc this project Given ttie ` cuirent stete.of budget approvale, the Town's fiaancce and fiuther coi�tderation of capitel financing by CouncU (n tho Fall oY 1998, it ts suggutal ttiat approvel of the fineaciag tiuough the issuance of debentures �x approved at ihis dma Councll can always epprove altemote finencing at a Isfec dato. ATTACIIMEtVTS: Not applicabla Pcepered B•,• Approved/E orxd By: �'� � � • Gtllie A: Patersoq:� fdilli� A. Patenoq Dircctar of Finaa:e dt Treasucer DirecWC of Finena & Tnasurcr ' � QAP/md .. Copy: Qene�d Mw�er r• ,. .� e' � ", , � � l r rt - � �t_ -.' i r c �� y �� . .; 4 ': .' , ) � -: �a�' C. k J T i �_ r.r 1 �' = 1 „ 4 f jL .:1. .e.lr.,..ja, �-; !u. � .-..?`� � .�,. � ..i _�.. . .._, �,� �,, i ,�.- ,... , .: : '.,P4 ... . ._ . . .