Page 100 - 2018 Village Ordinance Book 122818

State of Wisconsin County of Racine Village of Sturtevant

RESOLUTION 2018-27
3-30-18

RESOLUTION BY THE FINANCE AND BUDGETARY COMMITTEE
ALLOCATING MONIES FOR CAPITAL PROJECTS AND EQUIPMENT FROM
FUND BALANCE COLLECTED WITH THE CLOSURE OF TAX INCREMENT

DISTRICT # 3

WHEREAS, the Village of Sturtevant decertified Tax Increment District #3
on April 19, 2016; and

WHEREAS, the Village received $732,649 in excess increment collected
after payment of expenses of the TID and payment to affected taxing districts;
and

WHEREAS, the $732,649 in excess increment was added to the General
Fund Balance (Fund 101);

WHEREAS, the Village Board would like to allocate the funds for various
capital projects and equipment purchases.

NOW THEREFORE, the Village Board of the Village of Sturtevant, Racine
County, Wisconsin does hereby resolve:

1. That restriction of funds for said projects, as set forth in Exhibit A
which is attached hereto and incorporated herein, is authorized
and approved.

2. The above identified projects and equipment purchases must be
authorized through a separate resolution by the Board.

Adopted by the Village Board of the Village of Sturtevant, Racine County,
Wisconsin, this 4th day of April, 2018.

Village of Sturtevant

By__________________________
Jayme Hoffman, President

Attest________________________
Mary Cole, Village Clerk