HomeMy WebLinkAboutR-13-10RESOLUTION NO. R -13 -10
A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER
COUNTY, FLORIDA BORROWING FUNDS FROM THE NON -
EXPENDABLE CEMETERY TRUST FUND AND REPAYING THE
FUNDS WITH ALL NICHE AND LOT SALES; PROVIDING FOR
CONFLICT; PROVIDING FOR EFFECTIVE DATE.
WHEREAS, the City of Sebastian has determined that it is in the best interest
of the public welfare to purchase property which will extend the useful sales life of
cemetery lots and niches at the Sebastian Municipal Cemetery; and,
WHEREAS, the City of Sebastian has placed a sales offer of $300,000 on a 1.4
acre parcel located immediately adjacent to the Sebastian Municipal Cemetery at
12900, US Highway 1; and
WHEREAS, Ordinance 0 -93 -12 regulates the use of cemetery lots and niche
sales revenues; and,
WHEREAS, in order not to affect the other operating funds of the City and to
adhere to the financial operational mechanisms promulgated by 0- 93 -12, this
Resolution establishes a loan in the amount of $26,007 to be made from the Non -
Expendable Cemetery Trust to the Expendable Cemetery Trust; and,
WHEREAS, a repayment plan is hereby created.
NOW THEREFORE, be it resolved by the City of Sebastian City Council as
follows:
SECTION 1. LOAN. The Sebastian City Council authorizes a loan in the amount
of $26,007 be made from the Non - Expendable Cemetery Trust to the Expendable
Cemetery Trust in order to purchase the 1.4 acre parcel located at 12900 US Highway
1.
SECTION 2. LOAN REPAYMENT. Until such time that the funds are repaid,
the Sebastian City Council authorizes that all proceeds from cemetery lots and niches
be deposited in the Non- Expendable Cemetery Trust. It is estimated that the fund
will be repaid by the beginning of Fiscal Year 2014.
SECTION 3. EFFECTIVE DATE. This Resolution shall take effect immediately
upon its adoption.
The foregoing Resolution was moved for adoption by Council Member Hill
The motion was seconded by Council Member Wright and, upon being
put to a vote, the vote was as follows:
Mayor Bob McPardan
Vice -Mayor Don Wright
Council Member Jerome Adams
Council Member Andrea B. Coy
Council Member Jim Hill
aye
aye
aye
aye
aye
The Mayor thereupon declared this Resolution duly passed and adopted this 22nd day
of May, 2013.
ATTEST
Q -- _ By: � ----
Sally A. Maio, MC
City Clerk
CITY OF SEBASTIAN, FLORIDA
By.
Bob McPartlan
Mayor
Approved As to Form and Legality for
Reliance by the City of Sebastian Only:
By:
Robert A. Ginsburg
City Attorney