3145 ORDINANCE NO. 3145
AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA,
AMENDING CHAPTER 28 OF THE CITY CODE ENTITLED
WATER, SEWERS AND SEWAGE DISPOSAL AND
RECLAIMED WATER REUSE-BY AMENDING ARTICLE IX
ENTITLED ANNUAL REVIEW AND ACCOUNTING
PROCEDURES TO ADD SECTION 28-170(C)~TO PROVIDE
A FORMULA FOR THE CALCULATION OF THE CAPITAL
IMPROVEMENT ACCOUNT REQUIRED BY THE FLORIDA
ADMINISTRATIVE CODE; PROVIDING SEVERABILITY
CONFLICTS AND EFFECTIVE DATE.
WHEREAS, it is the desire of the Sanford City Commission of the City of
Sanford, Flo]~ida, to amend Chapter 28, Section 28-170 ( C ) of the City Code amending
the annual review and accounting procedures.
NOW, THEREFORE, BE IT ENACTED BY THE PEOPLE OF THE CITY OF
SANFORD, FLORIDA:
SECTION 1: Section 28-170, of the City Code of Sanford is hereby
amended to add Section (C) as follows:
SECTION 28-170
C) FORMULA PER FAC 17-50.017(2)(b)(1) for the
capital improvement account shall be:
{ i(l+i)DL {
D=G x { ........... I
I (l+i)DL -1 I
Where:
D = The amount of the total yearly deposit(s),
G = The grant amount
DL: The design life (in years) of the grant funded project, and
i = The projected annual inflation rate, which is set at 7.8 percent.
SECTION 2: The Code of Ordinances of the City of Sanford, Florida be
and the same is hereby amended in accordance with the terms, provisions, and
conditions of this Ordinance. Further, that the sections of this Ordinance may be
tenumbered or relettered to accomplish said amendment and the word "Ordinance"
may be changed to "Section", "Article", or any other appropriate word.
SECTION 3: If any section or portion of a section of this ordinance
provides to be invalid, unlawful or unconstitutional, it shall not be held to impair the
validity, force or effect of any other section or part of this ordinance.
SECTION 4: That all ordinances or parts of ordinances in conflict
herewith be and the same are hereby revoked.
. ,. SECTION 5: That this ordinance shall become effective immediately upon
its passage and adoption.
PASSED AND ADOPTED this~___~day of ~./~ , A.D., !993.
ATTEST:
City of Sanford, Florida
CERTIFICATE
I, Janet R. Donahoe, City Clerk of the City of Sanford,
Florida, do here~ certify that a true and correct copy of the
foregoing Ordinance No. 3145, PASSED and ~OPTED by the City
Comission of the City of Sanford, Florida, on the 12th day of
~ril, 1993, was POSTED at the front door of the City Hall in the
City of Sanford, Florida, on the 13th day of ~ril, 1993.
~~y Clerk of ~e
City of Sanford, Florida
--2--
Ordnance No. 3145