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HomeMy WebLinkAbout~Master - Additional funding allocation to Veterans Memorial RESOLUTION NO. 07-207 RESOLUTION APPROVING ADDITIONAL FUNDING ALLOCATION FOR VETERANS MEMORIAL FOR THE CITY OF AMES WHEREAS, in order to help make the Veterans Memorial a reality, the Council approved an agreement on April 25, 2006, authorizing up to $60,000 in Local Option funding to augment private donations raised by the Veterans Memorial Committee; and, WHEREAS, this funding was earmarked to help pay for the artwork portion of the project; and, WHEREAS, the agreement also specified that, after all of the Committee's other expenses were paid,the balance of the donations would be transferred to the City for use in maintaining the memorial;and, WHEREAS, a total of$55,263.31 in Local Option funding was ultimately spent for the artwork, and the Committee's balance has not yet been turned over to the City, since they are continuing to manage the brick donations and installation for the upcoming Memorial Day; and, WHEREAS, it is anticipated that approximately$3,000 will then be turned over to the City; and, WHEREAS, during the last several months, added expenses have also been incurred by the City, and the short-term effect ofthese activities is that approximately$841.43 more than the$60,000 authorized by Council has been expended or committed to date; and, WHEREAS, however, after the Committee's final balance is turned over to the City later this summer, net expenditures will be below the $60,000 threshold; and, WHEREAS, it is appropriate for the Council tp approve the added expenditures from the$60,000 in Local Option funding, with the understanding that any overage will be reimbursed from the private donations that will be conveyed to the City after Memorial Day. NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that the additional Veterans Memorial expenditures from the$60,000 previously approved in Local Option funding are hereby approved, with the understanding that any overage will be reimbursed from private donations to be conveyed to the City after Memorial Day. ADOPTED THIS 8t' day of May, 2007. C�A�"_R.� i A. V(' C...'AA-a Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Goodman Seconded by: Popken Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 8'day of May, 2007.