HomeMy WebLinkAbout2025 - RESO 13 - 2E Fund SupplementalCITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 13
SERIES OF 2025
TITLE: A RESOLUTION AMENDING THE FISCAL YEAR 2024 2J AND
2E BUDGETS IN THE AMOUNT OF $5,012,967 AND APPROVING THE
TRANSFER OF FUNDS FROM THE 2J NEXT CHAPTER BOND FUND
TO THE 2E INVESTING 4 THE FUTURE BOND FUND TO COMPLETE
THE DEFEASANCE OF THE 2017 BONDS
WHEREAS, in 2023, Wheat Ridge voters continued the half cent sales tax originally
authorized in 2016 to provide for transformative investments in infrastructure; and
WHEREAS, City Council established a new fund, the 2J Next Chapter Bond Fund,
to separate the revenues and expenditures associated with the extended half cent sales
tax; and
WHEREAS, the City received a bond refund of $5,012,967 in the 2024 Revenue
Bond Issuance proceeds that was intended to supplement the total amount needed to
defease the remainder of the 2017 Series A Revenue Bonds; and
WHEREAS, the City previously believed the bond refund of $5,012,967 was a pass-
through when in reality it was deposited into a City escrow account.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows:
Section 1. A supplemental budget appropriation in the amount of $5,012,967 is hereby approved from the 2J Next Chapter Budget (Fund 66) undesignated reserves to
account number 66-610-890-892.
Section 2. A transfer from the 2J Next Chapter Budget (Fund 66) account number 66-610-890-892 to the 2E Budget (Fund 31) account number 31-590-00-592 in the amount of $5,012,967 is hereby approved.
Section 3. A supplemental appropriation in the amount of $5,012,967 is hereby
approved from the 2E Budget (Fund 31) undesignated reserves to account 31-610-900-901.
DONE AND RESOLVED this 24th day of February 2025
Bud Starker, Mayor
ATTEST:
Margy Greer, Sr. Deputy City Clerk