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AN ORDINANCE TO AMEND THE 2005 ANNUAL BUDGET FOR THE CITY OF JONESBORO
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WHEREAS, Ordinance Number 3506 adopted a 2005 annual budget for the City of Jonesboro which included transfers from the Sales Tax Fund into the restricted Street Fund and restricted E-911 Fund of $339,177 and $303,209, respectively ; and
WHEREAS, there is a need to increase funds available for non-restricted Operations and Maintenance Funds due to actual 2004 and budgeted 2005 declines in fund balances of these Funds; and
WHEREAS, there exists currently a freeze on the purchase of all 2005 budgeted new fixed assets until July 1, 2005
THEREFORE, BE IT ORDAINED, by the Jonesboro City Council that
SECTION 1: The 2005 annual budget is amended by the elimination of the transfer from the Sales Tax Fund to the Street Fund and by the reduction of the transfer from the Sales Tax Fund to the E-911 Fund in the amount of $60,000.
SECTION 2: The current freeze on the purchase of 2005 budgeted new fixed assets is hereby repealed.
SECTION 3: For the financial continuity of the City of Jonesboro it is hereby found and declared that an emergency exists and that this ordinance, being necessary for the preservation of the public peace health and safety, shall take effect form and after its passage and approval.
PASSED AND ADOPTED this 1ST day of February, 2005.