AN ORDINANCE BY COUNCILMEMBER YOLANDA ADREAN, KEISHA LANCE BOTTOMS, CLETA WINSLOW, JOYCE M. SHEPERD, CARLA SMITH, C. T. MARTIN, IVORY LEE YOUNG, JR., HOWARD SHOOK, MICHAEL J. BOND, AND ALEX WAN DIRECTING THE CHIEF FINANCIAL OFFICER TO CREATE A CAPITAL PROCEEDS ACCOUNT FOR THE PURPOSE OF APPROPRIATING ANY FUNDS RECEIVED BY THE CITY OF ATLANTA FROM THE SALE OF A CAPITAL ASSET; AND FOR OTHER PURPOSES.
Information
| Department: | Council District 8 | Sponsors: | Councilmember, District 7 Howard Shook, Councilmember, District 6 Alex Wan, Councilmember, District 12 Joyce M Sheperd, Councilmember, District 10 Clarence "C. T." Martin, Councilmember, Post 2 At-Large Mary Norwood |
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| Category: | Personal Paper | Functions: | None Required |
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Body
WHEREAS, the City of Atlanta (“City”) is the owner of numerous capital assets held for the benefit of Atlanta residents, visitors and City employees; and
WHEREAS, from time to time it is deemed in the best interest of the City to sell certain of its capital assets that are no longer useful to the City; and
WHEREAS, it is the desire of the Atlanta City Council that proceeds from sales of such capital assets be appropriated into a segregated account for future use by the City.
NOW, THEREFORE, The City Council of the City of Atlanta, Georgia, hereby ordains:
SECTION 1: That the Chief Financial Officer is hereby directed to create a capital proceeds account for the purpose of appropriating any funds received by the City from the sale of capital assets.
SECTION 2: That any proceeds from the sale of capital assets going forward from the date of this ordinance are to be deposited in account for the purpose of supporting future capital and infrastructure needs.
SECTION 3: That all ordinances and parts of ordinances in conflict herewith are hereby repealed for purposes of this ordinance only, and only to the extent of the conflict.
Meeting History
| RESULT: | REFERRED WITHOUT OBJECTION | |
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| RESULT: | HELD IN COMMITTEE [6 TO 0] | | | AYES: | Alex Wan, Howard Shook, Yolanda Adrean, Clarence "C. T." Martin, Felicia A Moore, Andre Dickens | | AWAY: | Natalyn Mosby Archibong |
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| RESULT: | HELD IN COMMITTEE [UNANIMOUS] | | | AYES: | Alex Wan, Howard Shook, Yolanda Adrean, Natalyn Mosby Archibong, Clarence "C. T." Martin, Felicia A Moore | | ABSENT: | Andre Dickens |
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| RESULT: | HELD IN COMMITTEE [UNANIMOUS] | | | AYES: | Alex Wan, Howard Shook, Natalyn Mosby Archibong, Clarence "C. T." Martin, Felicia A Moore, Andre Dickens | | ABSENT: | Yolanda Adrean |
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| RESULT: | HELD IN COMMITTEE [UNANIMOUS] | | | AYES: | Alex Wan, Howard Shook, Yolanda Adrean, Natalyn Mosby Archibong, Clarence "C. T." Martin, Felicia A Moore, Andre Dickens |
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| RESULT: | HELD IN COMMITTEE [UNANIMOUS] | | | AYES: | Alex Wan, Howard Shook, Clarence "C. T." Martin, Felicia A Moore, Andre Dickens | | ABSENT: | Yolanda Adrean, Natalyn Mosby Archibong |
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| RESULT: | QUADRENNIALY TERMINATED | |
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