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Budget Resolution Adopting FY 2025-26 County and Utility Bond Proceeds Into FY 2026-27 Budget
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BRIEF OVERVIEW
During FY 26 The Hernando County Board of County Commissioners approved two bond issuances, for Hernando County and Hernando County Utilities. The resolution recognizing these funds was adopted and included in the FY 26 budget, however the funds were received too late in the fiscal year to be added to the FY 27 budget.
The unused bond funds from FY 26 now need to be adopted into the FY 27 budget so they can continue to be used for approved expenditures.
All projects currently funded were included in the issuance except for the Wiscon Fuel Site. The County would like to include this project totaling $1,500,000 from the remaining bond proceeds.
FINANCIAL IMPACT
As detailed on the attached resolution.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Section 129.06, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairman’s signature on the attached budget resolution.