HomeMy WebLinkAbout921170.tiff RESOLUTION
RE: ESTABLISH ITM RESERVE IN FISCAL YEAR 1992 IN COMPLIANCE WITH AMENDMENT ONE
(TABOR)
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, State Constitutional Amendment One (TABOR) passed November 3,
1992, provides for the establishment of reserves, and
WHEREAS, monies totalling $4,591,752 have been frozen by the Securities
Exchange Commission as part of the Steve Wymer and Institutional Treasury
Management (ITM) investigation, and
WHEREAS, staff has recommended that a reserve be established in fiscal year
1992 in the amount of $4,591,752 for a designated reserve for the future
operation and capital needs of the County if and when funds from ITM are
recovered.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that an Institutional Treasury Management reserve, in the
amount of $4,591, 752, be, and hereby is, created as provided for under Amendment
One (TABOR) for future operational and capital needs.
BE IT FURTHER RESOLVED by the Board that monies from the following funds
be transferred to the Contingency Fund for creation of the designated reserve:
FUND AMOUNT
General Fund $ 817, 112
Road & Bridge Fund 973,966
Conservation Trust Fund 93,820
Contingency Fund 338, 103
Public Health Fund 127,483
Solid Waste Fund 213,763
Capital Fund 853,502
Ambulance IGS Fund 156,609
Motor Pool IGS Fund 133,210
Health Insurance Fund 68,520
Printing & Supply IGS Fund 24,869
Computer Services IGS Fund 261,495
Insurance IGS Fund 478,324
PBX IGS Fund 50,976
TOTAL $ 4.591.752
921170
CG% Fa nniu ltd-i lam"
4
RE: ESTABLISH ITM RESERVES
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 16th day of December, A.D. , 1992.
Y F � � 4ti . BOARD OF COUNTY COMMISSIONERS
ATTEST: /044141041 041 WELD COUNTY, COLORADO
Weld County Clerk to the Board
eorgeKe edy, Chairman
BY: Sh401.4 K Thcxxv`-2
Deputy alerk to the Board Constance L. Harbert, Pro-Tem
APPROVED AS FORM:
C. W. Ki by
County Attorney Gor L c
W. H. Webster
921170
Hello