title
A resolution appropriating to certain accounts for the benefit of Water and Sewerage Services in the amount of Eight Million Six Hundred Thousand Dollars ($8,600,000).
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WHEREAS, the Metropolitan Council desires to appropriate to certain accounts for the benefit of Water and Sewerage Services in the amount of Eight Million Six Hundred Thousand Dollars ($8,600,000). from undesignated fund balances of the Stormwater Revenue Fund for the purpose of acquiring and demolishing flood prone properties; and,
WHEREAS, Water and Sewerage Services acquires and demolishes properties that are in the floodplain and/or floodway to eliminate or reduce the long-term risk to human life and property from the effects of flooding, as well as keep first responders out of harm's way; and
WHEREAS, by acquiring and demolishing properties that are in the floodplain and/or floodway the costs for a flood claim paid by the National Flood Insurance Program are also eliminated ; and
WHEREAS, it is in the public interest for The Metropolitan Government of Nashville and Davidson County to acquire and demolish flood-prone properties.
Now, therefore, be it resolved by the Council of the Metropolitan Government of Nashville and Davidson County:
Section 1: That the following amounts from the Undesignated Fund Balance of the Stormwater Revenue Fund is hereby appropriated:
PRIMARY EXPENDITURE ACCOUNT #
ACCOUNT DESCRIPTION
AMOUNT
67411.531000
Stormwater Revenue - Transfer to Home Buyout Grant Fund
$8,600,000
TOTAL
$8,600,000
Section 2: That the appropriation in Section 1 is funded from the following source:
REVENUE
ACCOUNT #
ACCOUNT DESCRIPTION
AMOUNT
67411.335000
Stormwater Revenue - Undesignated Fund Balance
$8,600,000
TOTAL
$8,600,000
Section 3: That this resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution appropriates $8,600,000 from the Undesig...
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