AGENDA ITEM SUMMARY
Consider for approval to authorize the withdrawl of up to and not exceed $2.4 million from the City of Griffin's MEAG Municipal Competitive Trust Short-term Portfolio and place funds in the Electric Operating Cash Account, for the construction of the Electric Department Line Construction facility, as previously approved July 8, 2014, and amend the budget accordingly. Electric Director Bill Bosch will address. Approved
| SPECIAL CONSIDERATIONS OR CONCERNS: |
Construction of this facility was approved by the Commission during the July 8 Commission meeting.
Staff recommends approval.
Current balance in the MEAG MCT STP is $4,465,749.65 as of June 30, 2014. Balance after the $2.4M transfer will be $2,065,749.65. The resolution and budget amendment appropriates $2.3M to Buildings and $100K to Furniture and Fixtures for constructing and furnishing the facility. |