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Page Two <br />July 16, 1996 Council Meeting <br />CFD Ordinances <br />ALTERNATIVES: <br />None. <br />FIANCIAL IMPACT: <br />This is not a general fund activity. <br />The restricted revenues, debt service payments and administrative expenditures are <br />accounted for in each respective fund. Investment of these funds are in separate bank <br />accounts and/or administered by a fiscal agent. The tax levy and proposed expenditures are <br />as follows: <br />CFD 87-1 $173,556.56 <br />CFD 88-1 103,092.93 <br />CFD 90-1 365,233.13 (TRA 2 is in foreclosure, therefore, a shortfall <br />of $32,957, will be paid from CFD 90-1 reserves. Total <br />1996/97 expenditures are projected to be $398,191.03.) <br />V <br />Anna A. Vega, Fina a irector <br />RECOMMENDATION: <br />Staff recommends that the City Council introduce the first reading of the attached ordinances <br />and waive the reading in full. <br />RE <br />