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AN ORDINANCE TO AMEND THE 2018 BUDGET AND MOVE $2,000,000 FROM THE GENERAL FUND RESERVES TO CAPTIAL IMPROVEMENT FUND FOR STIP PROJECT
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WHEREAS, the City of Jonesboro passed Ordinance 16:055 moving $7,810,000 from General Fund Reserves to the Capital Improvement fund and earmarking said funds as local City match for the Statewide Transportation Improvement Program (STIP).
WHEREAS, the scope of work and project limits for the Harrisburg Road (AR 1B) widening project (ARDOT 100881) needs to be extended from Forest Hill Road to Fire Station No. 4 entrance drive to better accommodate current traffic demands in this area.
WHEREAS, Arkansas Department of Transportation (ARDOT) has indicated that the scope of work and limits of construction for this project can be extended if the City of Jonesboro is willing to pay the difference in project cost.
WHEREAS, the City of Jonesboro passed the 2018 budget in Ordinance 17:085, which will need to be amended to transfer $2,000,000 in General Fund Reserves to the Capital Improvement fund and earmark said monies for the Harrisburg Road (ARDOT 100881) project.
NOW, THEREFORE BE IT ORDAINED, BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS;
SECTION 1: The 2018 Budget is hereby amended to move $2,000,000 held in reserve from general operating fund to the capital improvement fund.
SECTION 2. This ordinance being necessary to earmark funds required to improve said roadway as part of the Statewide Transportation Improvement Program (STIP).