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arrangements and to appropriate monies in the planning fund for expected oth r 2014 potential <br /> development plan reviews as required. <br /> Water Bond Construction Fund —Council previously approved Council Ordinance 2014-04 dated <br /> February 3, 2014, approving the issuance of not to exceed $26,000,000 bonds for the purpose of <br /> the dredging of Lake Decatur. The additional appropriation requested adjusts the Council <br /> approved budget for 2014 to the maximum expense allowable as approved by Council Ordinance <br /> 2014-04. <br /> POTENTIAL OBJECTION: <br /> There are no known objections to this ordinance request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCES: <br /> Ryan P. McCrady, City Manager <br /> Gregg D. Zientara, City Treasurer& Director of Finance <br /> BUDGETITIME IMPLICATIONS: <br /> The City of Decatur, as an Appropriation Municipality, as determined by prior action of the City <br /> Council, follows State of Illinois statutory requirements which define the actions required by the <br /> City Council to establish the legal authority for the City to expend monies in the iscal year. Such <br /> statutory requirements include the approval and adoption of the annual appropriation ordinance <br /> before the end of the 1" Quarter of the fiscal year. Failure to approve and ado:)t a new annual <br /> appropriation ordinance, limits the City's legal authority to expend monies tote last approved <br /> and adopted annual appropriation ordinance, or until the Council approves and adopts additional <br /> spending ordinances. <br /> council letter.doc Page 2 of 2 Fage 2 of 2 <br /> 125 <br />