Item Text

35. INCREASE TO DEBT SERVICE EXPENDITURE AUTHORITY BUDGET In accordance with A.R.S. Section 42-17106(B), authorize the following amendment to the FY 2010-11 Revised Budget: 1. Increase the FY2010-11 expenditure authority in Non-Departmental (470) County Improvement Debt Fund (320) Operating (0000) in the amount of $451,750 from $9,762,550 to $10,214,300 to provide for interest payments required to be made on the debt service. 2. Decrease the FY2010-11 expenditure authority in Non-Departmental (470) Non Departmental Grant Fund (249) Operating (0000) in the amount of $451,750 from the line “Potential Expenditures from Fund Balance.” These actions will have a County-wide impact of zero. These actions provide authority to make interest payments of $451,750 required for the Lease Revenue Bonds, Series 2001 and Series 2003 debt service. (C-18-11-028-M-00)