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AN ORDINANCE AUTHORIZING THE CITY OF JONESBORO TO AMEND THE 2009 BUDGET APPROPRIATING ADDITIONAL MONEY TO JETS IN LIEU OF REIMBURSEMENT BY JETS TO THE GENERAL FUND AND FOR OTHER PURPOSES.
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WHEREAS, the City of Jonesboro previously transferred $100,000.00 to JETS, to be reimbursed to the General Fund from future reimbursements from federal grant proceeds and
WHEREAS, the JETS budget is such that reimbursement of said transfer is not possible; and
WHEREAS, the City of Jonesboro hereby desires to amend the 2009 budget to appropriate the sum of $100,000.00 with no requirements for JETS to reimburse these funds.
NOW, THEREFORE, BE IT ORDAINED by the City Council for the City of Jonesboro that:
1. The 2009 Budget is hereby amended to appropriate the sum of $100,000.00 to the JETS budget.
2. That this appropriation is to be in lieu of reimbursement of a transfer of $100,000.00 from general funds to the JETS account, which transfer had been scheduled to be reimbursed to the General fund.
3. That due to the need to maintain the financial continuity of the City of Jonesboro, and to ensure an accurate accounting of City fund, an emergency is declared to exist, and this ordinance shall be effective immediately upon its passage and approval.
PASSED AND ADOPTED this 15th day of December, 2009.